Trading Statement
26/11/2024 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 23 November 2024 and
financial information for the first ten months of 2024, i.e. 1 January to 31
October with comparisons against the corresponding period in 2023. All figures
are unaudited.
Volumes (Year to date, 23 November 2024)
2024 2023 Change vs 2023
Cars 657,000 592,100 +11.0%
RoRo 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%
RoRo 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 €521.0 million (2023: €491.4
million), an increase of 6.0% compared with last year. For banking covenant
purposes, pre-IFRS 16 net debt figures were €82.3 million compared to
€111.1 million at 31 December 2023. On an IFRS basis to include lease
obligations, net debt figures were €189.4 million compared to €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 €375.8
million (2023: €352.9 million) (including intra-division charter income), a
6.5% increase on the prior year.
For the year to 23 November, Irish Ferries carried 657,000 cars (2023: 592,100
cars), an increase of 11.0% on the previous year. Freight carryings were
702,800 RoRo units (2023: 651,900 units), an increase of 7.8% compared with
2023.
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.
Container and Terminal Division
Total revenues recorded in the period to 31 October amounted to €171.3
million (2023: €165.4 million), a 3.6% increase on the prior year.
For the year to 23 November, container freight volumes shipped were 290,600
teu (2023: 254,200 teu) an increase of 14.3% on the previous year. Volumes
handled at our terminals in Dublin and Belfast totalled 307,800 units (2023:
282,800 units), an increase of 8.8% year on year.
Total revenues include customer surcharges covering fuel movements and
emission costs under ETS.
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 2023, ICG reported
revenue of €572.0 million and EBITDA of €132.6 million.
Dublin.
26 November 2024
Enquiries
Eamonn Rothwell, CEO
+353 1 607 5628
David Ledwidge,
CFO
+353 1 607 5628