Intense Competition for the Privatisation of Three Greek Regional Ports

By | 2021 Newsletter week 34 | No Comments

Three ferry operators —Attica Group, ANEK and Grimaldi­— are expected to compete for the privatisation of the three ports: Igoumenitsa, Patras and Heraklion.

In brief:

  • Grimaldi Group controls Minoan Lines and seek to acquire a port in order to form a bridge between the Adriatic Sea services and Crete.
  • The Port Authority of Thessaloniki (PAT/Ivan Savvidis’ Group) is strongly interested in the port of Igoumenitsa, as it considers it of great importance for its strategic expansion and development.
  • Greek Ferry Operators seek to control either the port of Igoumenitsa or Patras in order to exert pressure on Grimaldi in Heraklion.
  • Grimaldi is interested in both ports (Heraklion, Igoumenitsa) and possibly will be interested in Patras as well. However, there will be a competition issue if they eventually control the port of Igoumenitsa.

Regarding the investors’ participating in the privatisation process for the three ports:

  • For the 67% of the Igoumenitsa Port Authority qualified Attica Group, Portek International, Quintana, Aegean Oil, Archirodon joint venture with ANEK and Trident Hellas, Grimaldi Euromed consortium with Minoan Lines and the Port Authority of Thessaloniki.
  • For the 67% of the Port of Heraklion, the deadline for the investors’ interest expires on September 17, 2021. Active interest has already expressed by Greek cruise companies, the Greek Group AVIAREPS (G. Grylos), Grimaldi Group, Attica Group, GEK TERNA and the Port Authority of Thessaloniki.
  • The tender process for the port of Patras has not started yet.

Source: Spyros Roussos and Kathimerini newspaper 25 August 2021

ANEK 2019: “One of the Most Efficient Years During the Past Decade”

By | 2020 Newsletter week 18 | No Comments

In its annual report, ANEK Group has the following figures:

  • +8% passengers (1,044,000)
  • +7% cars (202,000)
  • +0% freight (129,000)

The increase in traffic volumes regarding passengers and vehicles came from the routes of Crete.

In addition, within the context of a more efficient management of the fleet, the company continued to charter its vessels to third parties.

During 2019 ANEK Group significantly improved its financial results in relation to the previous year, recording one of the most efficient years during the past decade.

  • +3.4% Turnover
  • +27% Gross profit
  • +75% EBITDA


By | 2018 Newsletter week 40 | No Comments

Positive Performance By ANEK Lines S.A.

Crete-based ANEK realises positive performance thanks to “more efficient ship and route management,” and to “passenger traffic growth.”

+ Passengers 368,000 (356,000) and Cars 62,000 (status quo)

– Freight 69,000

+ Turnover €72.9 million (65.3 million)

+ Revenue €66.9 million (58 million)

+ Consolidated gross results €8.4 million (0.4 million)

+ Profits €7.2 million (€-0.4 million)

+ EBITDA €1.6 million (€- 6.3 million)

In spite of increasing fuel prices, costs went down slightly.


By | 2018 Newsletter week 11 | No Comments

Good results from ANEK affected by increase in bunker cost

Some key figures from ANEK Lines annual report:

Passengers +7% 1,040,000 (974,000)
Cars +9% 204,000(188,000)
Trucks +4% 139,000 (133,000)

Concerning financial results, during 2017 ANEK Group maintained its profitability for the third consecutive year. However, the increase in the average price of fuel resulted to the increase of operating cost and the reduction of EBIDTA, despite the increase of turnover.

Turnover € 164.7 million (€ 157.6 million)
Consolidated gross profit € 31.4 million (€ 41.1 million).
EBITDA € 12.8 million (€ 25.6 million)

Higher operating costs affect ANEK’s improved performance 

By | 2017 Newsletter week 39 | No Comments

Following the previous two profitable years, ANEK Group maintained its profitability and displayed important improvement of its net results in the first semester of 2017. 

With 7% more crossings, ANEK saw in the first half of the year an increase of all categories: passengers 356,000 (339,000), cars 62,000 (56,000) and trucks 70,000 (67,000). 

The ferries operate on the Adriatic, Crete, Dodecanese and Cyclades. 

The average price of fuel was 50% higher, resulting in a higher operating cost and an EBITDA with a loss. However, lower financial cost, financial income and positive investment results, lead to the improvement of net results and the enhancement of the Group’s equity.  

  • Turnover: 65.3 million (65.0 million) 
  • Consolidated gross results: 0.4 million (11.2 million) 
  • EBITDA:  -6.3 million (4.9 million) 

Photo ©Mike Louagie