June 4, 2020

After A Strong Year Attica Group Can Handle The Storm

  • +37% EBITDA €78.02m
  • +21% Net income after taxes €20.85m compared to €17.27m for fiscal year
  • 2018 which included one off gains of €15.80m
  • +11% Revenue increase €405.40m

The positive financial results are mainly attributed to the synergies generated from the acquisition of Hellenic Seaways Maritime s.a. which is consolidated for the first time on a full year basis.

Attica Group saw a significant increase of liquidity reserves to €105.33m at the end of the year,  compared to €59.42m on 31 December 2018.

The upward trend of traffic volumes during the first two months of year 2020 was disrupted by the outbreak of the pandemic. The management proceeded immediately with an action plan to mitigate the impact.

The management anticipates that the Group will present losses for the fiscal year 2020.

Additionally, it is expected that the Group’s liquidity fully covers its cash flow needs.