May 12, 2022

ICG financial information for the first four months of 2022

  • Consolidated Group revenue €161.2 million, an increase of 80.5% compared with last year and a 57.6% increase on 2019.
  • Increase in net debt: primarily derived from strategic capital expenditure mainly comprising the acquisition of two vessels (ISLE OF INNISFREE, ISLE OF INISHEER). Including IFRS 16 lease obligations, net debt figures were €174.2 million compared to €142.2 million at year end.

Ferries Division

  • Total revenues recorded in the first four months amounted to €98.3 million (2021: €37.1 million) (including intra-division charter income), a 165.0% increase on the prior year (90.1% increase on 2019).
  • The increase was principally due to the easing of travel restrictions as compared to the same period last year, increased fuel surcharges and the new Dover – Calais service which commenced in June 2021.
  • For the year to 7 May, Irish Ferries carried 123,600 cars, an increase of 682.3% on the previous year.
  • Freight carryings were 223,900 RoRo units, an increase of 170.7% compared with 2021. Excluding volumes on the Dover – Calais route, Irish Ferries carried 65,300 cars (an increase of 313.3% on 2021) and 100,800 RoRo freight units (an increase of 21.9%).
  • Performance against the prior year in the period since last trading update to 5 March shows strong growth, with car carryings and RoRo freight (excluding Dover – Calais carryings) up 442.4% and 17.2% respectively on the same period in 2021.