Tag

Tag: Attica Group | Ferry Shipping News

Sep 16
4

Mr Grimaldi Confirms Interest in Attica if Put Up for Sale

By | 2021 Newsletter week 37 | No Comments

Following some news reported by Italian financial media (MF-MilanoFinanza), Emanuele Grimaldi confirmed to Ferry Shipping News the interest in Attica, in case the Greek ferry company will be put up for sale by Marfin Investment Group.

“It’s a widely known fact that our group looks at consolidating as much as possible the roro and ropax market, also in Greece. Therefore I can say that obviously we have an interest for Attica Group or for some of the lines operated,” said the Naples-based shipowner.

Taking over only some routes and vessels controlled by Attica (as it has happened with Trasmediterranea’s lines with the Balearic Islands) might be the right way to overcome potential limits from the antitrust authorities.

Mr Grimaldi also confirmed the Minoan participated as leading company, but with other players, in the privatisation process of the ports of Heraklion and Igoumenitsa.

Aug 26
4

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

Mar 25
13

Attica Holdings: Financing Agreement For The Construction Of Three Catamaran Vessels

By | 2021 Newsletter week 12 | No Comments

Attica Group announced the execution of a bond loan agreement with Alpha Bank of Greece and Norwegian Export Credit Insurance Organisation Eksportkreditt Norge AS, with the guarantee of the Norwegian Export Credit Guarantee Agency, for an amount of up to EUR 14.7 million.

The new bond loan will be issued by a 100% subsidiary and will finance up to 70% of the total construction and acquisition cost (pre-delivery & post-delivery finance) of three highspeed AERO Catamarans, according to the respective agreement with Brødrene Aa shipyard of Norway.

Of particular importance for the financing eligibility of the project were environmental, social and corporate governance (ESG) criteria, as the intended deployment of the state-of-the-art Aero Catamarans on the routes of the Saronic islands will contribute to the reduction of the carbon footprint, as well as to the social and economic development of the local insular communities.

Mar 25
11

Attica Holdings: Issuance Of A Long-Term Bond Loan Up To EUR 55mln

By | 2021 Newsletter week 12 | No Comments

Attica concluded an agreement with Piraeus Bank S.A. for the issuance of a five-year common bond loan of up to EUR 55mln for general business purposes, which will significantly expand the Group’s liquidity and will contribute to the acceleration of its investment planning and adaptation to a green and digital economy.

In the midst of adverse conditions caused by the pandemic, the above financing agreements represent a vote of confidence by Greek and international financial institutions to Attica Group’s sustainable investment and development prospects.

Attica concluded an agreement with Piraeus Bank S.A. for the issuance of a five-year common bond loan of up to EUR 55mln for general business purposes, which will significantly expand the Group’s liquidity and will contribute to the acceleration of its investment planning and adaptation to a green and digital economy.

In the midst of adverse conditions caused by the pandemic, the above financing agreements represent a vote of confidence by Greek and international financial institutions to Attica Group’s sustainable investment and development prospects.

Mar 11
11

New Ferry Connection From Thessaloniki To North Aegean & Cyclades By Attica Group

By | 2021 Newsletter week 10 | No Comments

On March 6, 2021 Attica Groups’ BLUE STAR MYCONOS started a new ferry service between Thessaloniki, the islands of the North Aegean (Limnos, Lesvos, Chios, Samos, Fournoi, Ikaria), the Cyclades (Mykonos, Syros) and Piraeus, following the signing of a public service contract.

That new ferry connection offers an alternative port call from Northern Greece. Ropax DIAGORAS is serving the Kavala-Lemnos-Lesvos-Chios-Samos-Ikaria line (Kavala is a port east of Thessaloniki).

Both handy size ferries are suitable for the ports of the line and offer a punctual service.

The 25-knot BLUE STAR MYCONOS can also serve the Cyclades because of her high speed.

The new ferry service fulfils a long-standing request both from passengers and transportation companies.

Nov 26
0

Attica Group Posts Q3 Results

By | 2020 Newsletter week 48 | No Comments

Consolidated revenue

  • Q3 = -30% = €113.58m
  • Q1+Q2+Q3 = -29% = €230.57m

Traffic volumes

  • Q3 = -45% passengers, -30% cars, -16% freight units, -22% sailings
  • Q1+Q2+Q3 = -51% passengers, -37% cars, -16% freight, -28% sailings

EBITDA

  • Q3 = €36.86m (57.48)
  • Q1+Q2+Q3 = €38.79m (72.98m)

EBIT

  • Q3 = €24.54m (46.22m)
  • Q1+Q2+Q3 = €3.33m (41.37m)

Consolidated Profit after taxes

  • Q3 = €12.14m (41.95m)
  • Q1+Q2+Q3 = €28.81m (30.90m)

Outlook

For the forthcoming months of 2020, which constitute months of low traffic, the Group’s traffic volume will be further affected by the evolution of the COVID-19 pandemic. Moreover, the restrictive measures recently imposed by the Greek State on the movement of citizens will decrease the Group’s traffic volume compared to the corresponding period last year.

In this constantly changing economic environment, the initial estimates of Management, as presented in the Annual Financial Report for the year 2019, for an estimated revenue drop at a range from 30% to 40% compared to the fiscal year 2019 are in line with current trading figures.

Oct 08
0

Attica Group Interested in the Port of Igoumenitsa

By | 2020 Newsletter week 41 | No Comments

Attica Group expressed serious interest in the port of Igoumenitsa, in the context of the forthcoming tender for the sale of 67% of the Igoumenitsa Port Authority S.A.

It is pointed out that Attica Group has a long-standing presence on the Adriatic Sea, especially in the Patras – Igoumenitsa – Bari and Ancona lines.

According to the information, Attica Group will declare itself “present” in the forthcoming tender, making its first step to expand the group’s activities in new business fields, such as logistics and tourism.

It is pointed out that the Italian group Grimaldi, Attica’s major rival in the Adriatic services, has also shown similar interest in the port of Igoumenitsa.

Oct 02
0

FERRY SHIPPING

By | 2020 Newsletter week 40 | No Comments

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:

-56.0% passengers

-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.

Source: Attica Group H1, 2020
Jul 23
0

Attica Group Achieves ISO 27001:2013 Certification For Information Security Management System

By | 2020 Newsletter week 30 | No Comments

Attica Group obtained its certification according to the international standard ISO 27001: 2013 for the Information Security Management System (ISMS).

The ISO 27001: 2013 certification concerns the operation and management of the Group’s Data Center infrastructure, including servers, networking equipment, environmental control devices, storage equipment and physical access processes.

Obtaining and maintaining the aforementioned certification presupposes strict adherence to specific security policies and procedures for the protection of the Group’s information systems, equipment, confidential information it manages, including those relating to personal data.