Attica Group – Full Year 2023 Financial Results

April 5, 2024

Key figures

+11% Turnover EUR 588.3 million

EBITDA EUR 126.4 million

Profit after tax EUR 61.2 million (against EUR 17.1 million)

The result for the fiscal year 2023 includes the profit from the merger with ANEK S.A. (negative goodwill) of EUR22.8 million, which arose due to the difference between the fair value of the net assets acquired and the consideration. The net profit margin from the Group’s recurring operation (excluding the result of the merger of ANEK S.A.) amounts to 6.5%.

The Group has a strong capital structure and satisfactory liquidity. The Group’s equity amounted to EUR 495.7 million from EUR 357,8 million on 31 December 2022.

Through the merger with ANEK, the Group strengthened its fleet with 8 new vessels. In addition, as part of its investment program, it proceeded with the acquisition of 2 new vessels. The Group’s fleet now numbers 43 vessels, compared to 33 in 2022, operating under the brands “Superfast Ferries”, “Blue Star Ferries”, “Hellenic Seaways” and “ANEK Lines”. Of these ships, 28 are conventional passenger-car ferries, 13 are high-speed ferries and 2 ships are cargo ferries.

The Group’s transport activity shows an increase compared to 2022. Specifically, Attica Group’s ships transported 6.5 million passengers, 1 million private vehicles and 420,000 trucks recording an increase of 6.6%, 3.1% and 1.9% respectively compared to 2022.

Attica Group signed a EUR 1 billion Memorandum of Understanding with Elefsina and Syros Shipyards of the ONEX Group. The ten-year agreement exclusively covers maintenance, conversion, repair, and environmental upgrades for Attica Group’s ships, with the potential for constructing new vessels. This initiative not only addresses the Group’s needs but also fosters sustainable growth in Greek shipbuilding and repair.