Positive EBITDA Attica Group Powered by Monitoring and Timely Decisions
- Revenue EUR 117.00 million (EUR 164.01 million)
- EBITDA EUR 1.94 (EUR 15.50 million)
- The decrease in revenue and EBITDA resulted from reduced traffic volumes(*) due to the pandemic and the imposed restrictive measures.
- Losses after taxes amounting to EUR 40.96 million (EUR 11.05 million)
- Financial results (include fuel hedging) loss of EUR 12.51 million (profit of EUR 1.3 million)
(*) Traffic figures:
-46.3% private vehicles
-15.6% freight units
-33.0% sailings (4,446 compared to 6,683 sailings last year).
In the context of these extraordinary and constantly changing circumstances, management monitored daily the traffic volumes data, the pandemic evolution, as well as the measures imposed by the Authorities and assessed the traffic evolution by market, vessel and route.
Based on these assessments, the management made timely decisions achieving, among others, reduced operational and general costs and adjusted vessel itineraries. These measures contained significantly the Group operating costs and achieved the best possible balance between services provided and market demand, considering the necessity to maintain the service and the connectivity of the islands and utilizing to the maximum extent the support measures for the affected companies announced by the Hellenic State.