ANEK, H1 Results

By | 2022 Newsletter week 40 | No Comments

+ The sharp recovery from the pandemic in conjunction with the considerably positive developments in tourist traffic and the relevant proceeds during the summer period, created optimism regarding the performance of the sector and the Greek economy in general.

– However, the deterioration of the international economic climate with the ongoing geopolitical instability and energy crisis, led to an increase in costs and prices in general, preserving a climate of uncertainty.

– Huge increase in the price of fuels that formed in unprecedented levels, burdened excessively the operating cost, absorbed the benefit from turnover increase, worsened significantly the operating results and prevented the effort to preserve adequate working capital.

Statistics

-15% itineraries / +61% pax / +28% vehicles / -11% freight units

Financial figures

+28% Group Turnover EUR 74.2 million

+13% Parent company turnover EUR 64.7 million

EBITDA

Group losses of EUR 12.0 million over EUR 0.7 million

Parent Company losses of EUR 11.7 million versus EUR 1.6 million.

Financial Results

The net financial cost of the Group and the Parent Company amounted to EUR 5.6 million versus EUR 5.4 million.

Net Results

Consolidated net results after taxes and minority interests for the first half of 2022 amounted to losses of EUR 22.6 million over EUR 12.1, while correspondingly, Parent Company’s net results after taxes formed at losses of EUR 20.7 million versus EUR 11.9 million.

ANEK > Attica

On 26 September 2022, the Company’s Board of Directors decided –following the agreement between Attica and the major creditors and shareholders of ANEK– the commencement of the procedure

ANEK Lines’ Ro-Ro ISLAND EXPRESS To Sail in Caribbean

By | 2019 Newsletter week 21 | No Comments

ANEK LINES’ small RoRo ISLAND EXPRESS (1989) was eventually chartered out to the Dominican Republic based Priority Ro/Ro and soon she will depart for the other side of the Atlantic Ocean.
The ship was purchased last March and she will support her operator’s presence in the area where traffic is growing fast. ISLAND EXPRESS was built in Italy in 1989 (Cantieri Navali Visentini) and flies the Cypriot flag.

FERRY FINANCE

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)