W.B. YEATS © George Giannakis

Irish Continental Group Plc trading update

FinanceIrish Continental Group plc issued its unaudited trading update which covers carryings for the year to date to 23 November 2024 and financial information for the first ten months of 2024. Total revenues for the ferries division in the period to 31 October amounted to EUR 375.8 million (EUR 352.9 million) (including intra-division charter income). For the year to 23 November, Irish Ferries carried 657,000 cars (592,100 cars) and freight carryings were 702,800 ro-ro units (651,900 units).

Volumes (Year to date, 23 November 2024)

	2024	2023	Change vs 2023
Cars	657,000	592,100	+11.0%
Ro-ro Freight	702,800	651,900	+7.8%
Container Freight (teu)	290,600	254,200	+14.3%
Terminal Lifts	307,800	282,800	+8.8%

Volumes (since last Trading Update, 24 August 2024)

	25/8/24-23/11/24	25/8/23-23/11/23	Change vs 2023
Cars	164,500	157,800	+4.2%
Ro-ro Freight	205,000	194,600	+5.3%
Container Freight (teu)	87,000	71,600	+21.5%
Terminal Lifts	88,600	84,900	+4.4%

Consolidated Group revenue in the period was EUR 521.0 million (2023: EUR 491.4 million), an increase of 6.0% compared with last year. For banking covenant purposes, pre-IFRS 16 net debt figures were EUR 82.3 million compared to EUR 111.1 million at 31 December 2023. On an IFRS basis to include lease obligations, net debt figures were EUR 189.4 million compared to EUR 143.7 million at 31 December 2023. This increase was attributable to the acquisition of the OSCAR WILDE under a lease purchase arrangement.

Ferries Division

Total revenues recorded in the period to 31 October amounted to EUR 375.8 million (EUR 352.9 million) (including intra-division charter income).

For the year to 23 November, Irish Ferries carried 657,000 cars (592,100 cars). Freight carryings were 702,800 ro-ro units (651,900 units).

Total revenues also include customer surcharges related to fuel movements and the cost of emission allowances under the EU Emission Trading System (ETS) since 1 January 2024.

Nov 28 2024