Revenues for the first half came in €109.63m up from €108.87m in first half 2015 and EBITDA of €21.66m was a €2.63m improvement on 2015. Consolidated earnings before interest, taxes, investing and financial results stood at €9.8m compared to €7.28m in 2015 and though there was a net loss of €2.2m it was big improvement on the €5.84m for the corresponding period in 2015.

Thus as the company enters the traditionally far busier second half the omens are the best they have been for some eight years.
Attica's cash balance at June 30 stood at €40.14m compared to €71.56m at beginning of the year, with explaining that during the first half of 2016 "a significant part of the group's liquidity, some €32.59m, was used for payment of its long-term borrowings".

Attica said fixed assets stood at €555.46m compared to €565.52m on December 31, 2015 as in the six months total debt dropped to €257.41m from €285.26m.
The Group's total equity at June 30, stood at €380.36m, or €1.98 a share.

"The improvement in consolidated operating results compared to the extremely satisfactory corresponding period in 2015 confirms the continued positive performance of the group amid deteriorating market liquidity conditions as well as the continuing [government's] capital controls," said Attica.

It said the priority is to increase the consolidated revenues and results of the group and in this context Attica signed an agreement with BMCE Bank Of Africa Group (BMCE), a leading Moroccan banking group, to operate scheduled ferry services from Morocco to Europe, through the newly-established Moroccan company Africa Morocco Links. AML operations began at the end of June 2016 in the Tangier Med ­ Algeciras route with two ro-pax vessels.

On June 29 Attica announced sale of 1990-built ro-pax DIAGORAS to AML, for an undisclosed price. Attica said: "DIAGORAS covered the immediate operational needs of the Tanger Med ­ Algeciras line. Sale of the vessel is part of a broader agreement which includes also a repurchase agreement for the same financial consideration by the end of the current fiscal year."

Overall, the group reported increased traffic volumes in freight units of 8.9%, in private vehicles of 10.5% but a decrease in passengers of 4.2%.
Sailings increased by 6.4% compared to the first half of 2015.

In the Adriatic on the Patras-Igoumenitsa-Ancona and on the Patras-Igoumenitsa-Bari routes, traffic volumes of the Superfast vessels working in a joint service with Anek Lines, in 0.6% less sailings compared to the 2015 half, decreased by 11.9% in passengers, 3.6% in private vehicles and 5.1% in freight units.

However, domestically on the Piraeus-Cyclades, Piraeus-Dodekanese islands,
Piraeus-Iraklion, Piraeus-Chania and Piraeus-Chios-Mytilene routes, Attica's traffic volumes, with 8.3% more sailings by Blue Star vessels increased
12.9% for private vehicles, 16.9% for freight units, but fell 3.4% in passengers lifting compared to the same period in 2015. In Piraeus-Iraklion and Piraeus-Chania routes, the group¹s vessels are in joint service with Anek Lines.