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W.B. YEATS © George Giannakis

W.B. YEATS © George Giannakis

Irish Continental Group 2022 review

FinanceRevenue increased to EUR 584.9 million (EUR 334.5 million) for Irish Ferries’ parent company Irish Continental Group (ICG) in 2022, while EBITDA increased to EUR 127.2 million (EUR 52.3 million) and operating profit to EUR 66.7 million (EUR -0.2 million).

Volume movements:
Passengers: 2,315,000 (667,800)
Ro-ro units: 696,600 (290,000)
Cars: 573,400 (203,600)
Containers shipped (TEU's): 322,600 (346,500)

64% of the group’s revenue originated from the ferries division, and 75% of the EBITDA.

Commenting on the results, Chairman John B. McGuckian said;

“2022 has been a year not just of recovery but of building for long-term growth. With the Covid-19 pandemic now behind us, we have turned our full attention to maximising the opportunities that have arisen for the Group over the last two years. We come out of the pandemic with operations larger than we had at its commencement, and with a balance sheet that remains strong. 2022 saw the completion of our planned fleet investment for the Dover – Calais route. The entry to this route has been a long-term objective for the Group and the expansion to a three ship operation during 2022 allows us to compete effectively on this route. While there is some uncertainty around economic growth rates, we look forward to continued growth during 2023 through the leveraging of our recent investments and the continued support of all customers.”

Full report https://icg.ie/wp-content/uploads/2023/03/FY22-ICG-Results-Presentation-FINAL.pdf

© Shippax

Mar 09 2023

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