The Estonian company said net earnings were down 23% at EUR 43.3m ($59.7m) for 2013, with revenue stable at EUR 942m

It carried 9.11m passengers in the period, down 1.6%.

Fourth-quarter profit was up 32% to EUR 7.5m, however, despite a weak economy in the Baltic region and increased competition on Finland-Sweden routes.

Fuel cost were EUR 14m lower over the year.

Looking ahead, Tallink said the 2014 result is expected to improve.