Attica Group H1 2023 Financial Results

October 6, 2023

Attica Group’s financial results for H1 present an increase in revenue in both geographical segments the Group operates in, namely domestic and international routes.

  • +21% consolidated revenue MEUR 244.26
  • +18% increase in the number of sailings, as well as increase in vessels utilization rate, supported by the lifting, since mid-March 2022, of the state imposed reduced capacity protocol for passengers (due to Covid-19 restrictions).
  • EBITDA MEUR 47.49 (losses of MEUR 9.61 in H1, 2022)
  • Consolidated profit after taxes MEUR 3.25 (consolidated losses after taxes of MEUR 30.54 in H1, 2022).
  • Group operating expenses, MEUR 190.6 (MEUR 211.91 in H1, 2022) affected mainly by the decrease in fuel prices and partially counterbalanced by the increase in crew expenses and vessels maintenance and repair costs.
  • The increase in Group revenue, combined with the reduction in operating expenses during the same period, led to an increase in gross profit, as well as consolidated profits before taxes, investing and financial results, depreciation and amortization (EBITDA).
  • Group Equity stood at MEUR 362.51 from MEUR 357.75 as at 31 December 2022.

Traffic Volumes in H1, 2023

2.4 million passengers +14.2%

365,000 private vehicles +3.7%

209,000 freight units +0.5%


Developments within Current Year

During the two-month period July – August 2023, the Group increased its turnover by 2.6% compared to the corresponding period last year.

For the entire fiscal year 2023, an increase is expected in the turnover and the net income of the Group compared to fiscal year 2022.

The key factors that will further determine the financial performance mainly relate to traffic volumes and international fuel prices evolution, the latter currently presenting intensely rising trends.

Source: Attica Group