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Third party research

Tallink: Free cash flow support dividends - Emergers

Tallink Grupp

This is a third party research report and does not necessarily reflect our views or values

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Q4 profit was below forecast but the declared dividend was above. We look for a macro driven recovery this year, and expect dividend policy payouts in the coming years, supported by healthy free cash flow. Only small changes are made to the estimates and fair value.
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