Irish Continental Group reported a solid start to 2026.
Group revenue for the first four months of the year rose 13.9% to €215.9 million, compared with €189.5 million in the same period of 2025. The increase reflects the full-year application of the ETS and higher fuel surcharges, both of which were passed on to customers.
Freight Volumes Remain Robust
Year-to-date figures to 2 May show continued strength in freight activities:
- RoRo freight volumes increased 5.2% to 270,900 units.
- Terminal lifts rose 2.2% to 125,200 units.
- Container volumes were slightly lower at 126,800 teu, down 3.8%.
- Car carryings totalled 135,200, a modest decline of 2.9%.
The Group noted that the freight business has performed well since the beginning of the year, demonstrating the resilience of its core markets.
Ferries Division Posts Double-Digit Revenue Growth
The Ferries Division generated revenues of €138.6 million, up 16.7% year-on-year.
Irish Ferries continued to benefit from strong freight demand, carrying 270,900 RoRo units in the period. Passenger car volumes were slightly lower, although comparisons with 2025 are influenced by the temporary closure of Port of Holyhead in early January last year.
Container and Terminal Division Shows Steady Progress
The Container and Terminal Division delivered revenues of €87.6 million, an increase of 8.3%.
Terminal activity in Dublin and Belfast continued to grow, with lift volumes rising 2.2%, confirming the strength of the Group’s port operations.
Strong Balance Sheet Supports Future Growth
ICG maintained a conservative financial position, with pre-IFRS 16 net debt reduced to €128.9 million from €133.5 million at year-end 2025.
The company said its diversified business model and disciplined capital allocation provide a strong platform for further investment. Recent vessel acquisitions are increasing capacity on strategic routes and supporting long-term growth.
Well Positioned Despite External Challenges
Management acknowledged that higher fuel prices linked to geopolitical tensions in the Middle East may create cost pressures. However, ICG’s established fuel surcharge mechanisms and strong balance sheet help mitigate these effects.
With revenues rising, freight volumes growing, and investments continuing, Irish Continental Group remains well positioned to build on its leading role in ferry transport and logistics.
Source: Irish Continental Group
