REG-Trading Statement

Irish ContinentalAnnouncement

Today 07:00

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TRADING UPDATE

Irish Continental Group plc (“ICG” or “the Group”) issues this trading
update which covers carryings for the year to date to 2 May 2026 and financial
information for the first four months of 2026, i.e. 1 January to 30 April with
comparisons against the corresponding period in 2025. All figures are
unaudited.

Volumes (Year to date, 2 May 2026)

                          2026     2025     Change vs 2025    
 Cars                     135,200  139,200  (2.9%)            
 RoRo Freight             270,900  257,600  +5.2%             
 Container Freight (teu)  126,800  131,800  (3.8%)            
 Terminal Lifts           125,200  122,500  +2.2%             

  

Volumes (Since last update, 1 March to 2 May 2026)

                          2026     2025     Change vs 2025    
 Cars                     85,000   89,900   (5.5%)            
 RoRo Freight             146,200  145,400  +0.6%             
 Container Freight (teu)  66,200   68,000   (2.6%)            
 Terminal Lifts           66,300   65,200   +1.7%             

  

Recent geopolitical developments in the Middle East have resulted in increased
fuel prices, which can only be negative for everyone living on an island off
Northwest Europe. Apart from the obvious increased cost of getting on and off
the Island, there are secondary impacts on inflation, interest rates and the
general cost of living.  While the Group’s consistent policy is not to
financially hedge fuel prices, we do have a well-established mechanism for
applying fuel surcharges on all freight movements on a monthly lagged basis.

The strength of the Group’s diversified business model and balance sheet
continues to position us well to respond to changing market conditions and to
capitalise on selective opportunities as they arise. The Group has remained
disciplined in deploying capital and continues to evaluate opportunities to
enhance its fleet and service offering on attractive terms. Recent
investments, including vessel acquisitions, support the Group’s long‑term
growth strategy and enhance capacity across key routes.

Consolidated Group revenue in the period was €215.9 million (2025: €189.5
million), an increase of 13.9% compared with last year. The 100% application
of the European Emissions Trading System (ETS) for 2026 and increased fuel
surcharges have contributed to this increase.

For banking covenant purposes, pre-IFRS 16 net debt figures were €128.9
million compared to €133.5 million at 31 December 2025. On an IFRS basis to
include lease obligations, net debt figures were €255.8 million compared to
€256.1 million at 31 December 2025.

Ferries Division

Total revenues recorded in the period to 30 April amounted to €138.6 million
(2025: €118.8 million) (including intra-division charter income), which was
a 16.7% increase on the prior year.

For the year to 2 May, Irish Ferries carried 135,200 cars (2025: 139,200
cars), a decrease of 2.9% on the previous year. Freight carryings were 270,900
RoRo units (2025: 257,600 units), an increase of 5.2% compared with 2025.

The beginning of 2026 has seen volume growth in the Group’s freight
business, alongside softer car volumes. In the prior year, both car and
freight volumes were impacted by the temporary closure of Holyhead Port in
early January 2025.

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

Container and Terminal Division

Total revenues recorded in the period to 30 April amounted to €87.6 million
(2025: €80.9 million), an 8.3% increase on the prior year.

For the year to 2 May, container freight volumes shipped were 126,800 teu
(2025: 131,800 teu) a decrease of 3.8% on the previous year. Volumes handled
at our terminals in Dublin and Belfast totalled 125,200 units (2025: 122,500
units), an increase of 2.2% year on year.

Total revenues include customer surcharges covering fuel movements, emission
costs under ETS and the impact of changes in the costs of chartering container
ships.

About Irish Continental Group plc

Irish Continental Group plc is the leading Irish-based maritime transport
group. The Group’s activities include the transport of passengers, cars and
Roll on Roll off (RoRo) freight under the Irish Ferries brand, on routes
between each of Ireland, Britain and Continental Europe. The Group also
provides Container Lift on Lift off (LoLo) freight services on routes between
Ireland and Continental Europe under the Eucon brand. Other activities include
the operation of container terminals in the ports of Dublin and Belfast and
ship chartering activities. For the year ended 31 December 2025, ICG reported
revenue of €666.7 million and EBITDA of €150.6 million.

Dublin.
7 May 2026

Enquiries

Eamonn Rothwell,
CEO                                             
+353 1 607 5628                     info@icg.ie
David Ledwidge,
CFO                                                
+353 1 607 5628                     info@icg.ie
Q4 Public
Relations                                                    
+353 1 475 1444                     press@q4pr.ie