The Ferries Division led the performance, with revenues climbing 16.7% to EUR 138.6 million. RoRo freight carryings rose 5.2% year-on-year to 270,900 units in the period to 2 May, signalling resilient demand on Ireland-Britain and Ireland-Continental Europe trade lanes. Passenger car volumes, however, slipped 2.9% to 135,200 vehicles, with the comparison flattered by the temporary closure of Holyhead Port in early January 2025.

ICG flagged renewed pressure from Middle East geopolitical tensions, which have lifted bunker prices and, by extension, the cost of moving goods and people on and off the island. While the group does not financially hedge fuel, it operates a monthly lagged surcharge mechanism across all freight movements to recover cost inflation.

The balance sheet remained robust. Pre-IFRS 16 net debt eased to EUR 128.9 million from EUR 133.5 million at year-end 2025, while IFRS net debt was broadly stable at EUR 255.8 million. Management reiterated a disciplined capital deployment stance, pointing to recent vessel acquisitions as supporting long-term capacity growth across core routes.

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