Attica Group: Presentation for the Capital Markets Day

By 7 February 20252025 Newsletter week 06
February 7, 2025

In connection with the presentation for the Capital Markets Day held by Attica Holdings S.A. on February 3, 2025, Attica posted a corporate presentation on its website, at the following link: https://www.attica-group.com/Press Releases & Announcements.

Two pages caught our special attention:

Fuel and Emission Cost Savings Initiatives (Slide 50)

  • Scrubber Installation
    • SOx emission control devices installed on main and auxiliary engines.
    • Additional installation planned on 2 vessels, bringing the total to 10 vessels.
    • 80% funded through the Recovery and Resilience Facility (RRF) for green investments.
    • Expected cost savings through the use of high-sulphur fuel oil (HSFO).
    • Compliance with IMO regulations on sulphur emissions (effective May 2025).
    • Estimated fuel consumption reduction: 3.9k metric tonnes.
    • Reduction in environmental footprint by 3% to 5%.
  • Energy-Saving Devices
    • Implementations include:
      • Silicone anti-fouling paints.
      • LED lighting systems.
      • Solar panels.
      • Propeller optimisations.
      • Onshore power supply integration.
    • Expected reduction in fuel costs.
    • Contribution to Attica’s ESG targets.
  • Financial Impact
    • Total remaining investment: €35 million.
    • Estimated EBITDA impact:
      • Scrubber installation: €7–8 million.
      • Energy-saving devices: €1–2 million.
    • Cost savings will be fully realised by 2026​.

Newbuilds and Fleet Optimisation (Slide 51)

  • Adriatic Vessels
    • Two new Ro-Pax newbuildings to be deployed in the Adriatic.
    • Signed bareboat agreement, with purchase option in 2032.
    • Delivery expected in 2027.
    • Designed to replace three existing vessels while maintaining freight capacity.
    • Expected economies of scale and energy savings.
    • Estimated vessel sale proceeds in 2027: €8 million.
  • AERO Vessels
    • Two vessels with 400-passenger capacity.
    • One compact vessel with a 250-passenger capacity.
    • Designed to replace high-speed vessels to reduce fuel consumption and maintenance costs.
    • Homogenisation of product offerings in the Argo-Saronic route.
  • Compact Dual-Fuel Ro-Pax Vessel
    • Capacity: 1,500 passengers, 270 beds, and 825 lane metres.
    • Fleet renewal and replacement of older vessels.
    • Expected vessel sale proceeds in 2028: €37 million.
  • Financial Impact
    • Remaining investment:
      • Adriatic vessels: €375 million.
      • AERO vessels: €50 million.
      • Compact vessel: €90 million.
    • EBITDA impact:
      • Adriatic vessels: €35–40 million.
      • AERO vessels: €5–6 million.
      • Compact vessel: €7–8 million​.

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