Key points:

• Net loss narrowed to EUR 13.5 million (EUR 52.3 million in H1 2025), helped by EUR 14.8 million in asset disposal gains
• Revenue up 1% to EUR 329.8 million despite 12.8% fewer sailings
• EBITDA rose to EUR 15.7 million from EUR 4.1 million
• Underlying costs cut by EUR 21.8 million; fuel consumption down 11%
• Traffic fell: passengers down 6.1%, cars down 1.7%, freight down 4.1%
• Fleet of 36 vessels; Saronic Gulf average age cut to 5.8 years, Adriatic to fall to 8.6 years after SUPERFAST V and two 2027 newbuilds
• Net debt up to EUR 564.1 million; cash EUR 97.5 million
• MGO above EUR 1,400 per tonne clouds the second-half outlook

Operating expenses fell by 1.5% to EUR 316.2 million. Excluding fuel and charges related to the EU ETS, FuelEU Maritime and the Mediterranean SECA, the underlying cost base was reduced by EUR 21.8 million. Fuel consumption fell by 11%, helped by the replacement of older tonnage and the termination of charter agreements.

Fewer sailings, fuller ships

The Group carried 2.5 million passengers (down 6.1%), 448,000 private vehicles (down 1.7%) and 265,000 freight units (down 4.1%). Attica says the reduced schedule, largely driven by fuel prices, led to better capacity utilisation and higher average passenger and vehicle volumes per sailing.

As at 30 June 2026, the Group operated a fleet of 36 vessels under its four brands: Superfast Ferries, Blue Star Ferries, Hellenic Seaways and Anek Lines.

Younger fleet

The fleet renewal programme has cut the average age of vessels in the Saronic Gulf to 5.8 years from 18 years. In the Adriatic, following the deployment of SUPERFAST V and the delivery of two newbuilds in 2027, the average age is expected to fall to 8.6 years from 24.8 years. Scrubbers and energy-saving devices have been installed on ten vessels, with the programme being extended to four more.

Attica is also simplifying its corporate structure, consolidating ferry operations into two companies – one for Greek domestic services and one for international routes. The merger of the four international route companies into one has been completed, with the domestic consolidation due by year-end. Meanwhile, the Seanthesis digital platform, designed to unify booking channels and customer data across the Group's brands, is entering commercial deployment.

Balance sheet

Equity stood at EUR 458.3 million at the end of June (EUR 440.8 million at 31 December 2025), while net debt rose to EUR 564.1 million from EUR 515.6 million. Cash and equivalents totalled EUR 97.5 million, with a further EUR 53.9 million in undrawn credit facilities.

Fuel prices cloud outlook

Attica warns that geopolitical developments and fuel price volatility create heightened uncertainty for the second half. Brent crude remains above USD 100 per barrel, and marine gas oil has exceeded EUR 1,400 per tonne, up from EUR 573 at the end of 2025. The Group says it will continue to adapt its operational plans as needed while pursuing its investment programme and cost discipline.

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