March 17, 2022

Financial Summary for the full year 2021   

+20.7% Revenue €334.5m (€277.1m)

+24.2% EBITDA (pre non-trading items) €52.3m (€42.1m), principally due to increased revenues and a continued focus on cost optimisation

+98.1% EBIT (including non-trading items) €-0.2m (-10.4m)

+74.5% Basic earnings per share

In 2021, the Group commenced Irish Ferries’ services on the new Dover – Calais route. The services commenced on the 29 June 2021 with the deployment of THE ISLE OF INISHMORE, followed by ISLE OF INNISFREE onto the route on the 16 December 2021.

The Group purchased a third ship for the route, the ISLE OF INISHEER. (H1, 2022)

In 2020, the Group was successful in the public tender to operate a container depot at the new Dublin Inland Port.

Dublin Ferryport Terminals placed an order for five new electric rubber-tyred gantry cranes which will be delivered and commissioned in the second half of 2022. This is in addition to four similar units previously commissioned. The deployment of these electric cranes will allow to meet the target of reducing emissions in the container terminals by 70% in 2025 (versus 2020) and reaching net zero emissions in the container terminals by 2030.

Furthermore, the delivery of these cranes and the relocation of the empty depot facility to the Dublin Ferryport Inland Depot will increase the capacity of Dublin Ferryport Terminals.

Year-end net debt, after strategic capital expenditure of €41.7 million, was €142.2 million, 2.6 times EBITDA under banking covenant definitions.

The Group is in a strong financial position with available liquidity comprising cash and committed bank facilities of €118.9 million at 31 December 2021.

Source: Irish Continental Group