Tag

Attica Group

Oct 05
Love0

Increased traffic volumes in all revenue categories for Attica Group

By 2017 Newsletter week 40

On Friday September 29, Attica Group (Blue Star Ferries, Superfast Ferries) published its half-year results.

  • • During H1, Attica Group saw an increase in traffic volumes in all categories: Passengers +5.4% / Cars +9.9% / Freight +2.3% / Sailings +4.3%
  • Adriatic routes (Patras-Igoumenitsa-Ancona and Patras-Igoumenitsa-Bari (in joint service with ANEK): Passengers +16.8% / Cars +14.2% / Freight +3.5% / Sailings + 2.1%
  • Greek domestic routes (Piraeus-Cyclades, Piraeus-Dodekanese, Piraeus-  Crete (with ANEK), and Piraeus-Chios-Mytilene): Passengers +4.3% / Cars +9.2% / Freight +1.7% / Sailings +4.8%
  • Consolidated Revenue: EUR 112.04m (EUR 109.63m)
  • EBITDA: EUR 7.07m (EUR 21.66m)
  •  Consolidated losses after tax: EUR 22.26m (EUR 2.20m)
  •  Increase of bunker prices influenced Group’s results by over EUR 15m.

Other highlights:

  • On August 11, Attica acquired 50.30% of the share capital of Hellenic Seaways Maritime S.A.
  • On August 30, BLUE STAR PATMOS suffered grounding on shallow waters while approaching Ios. The impact is estimated to be limited due to the upcoming low season. The incident is fully covered by the existing insurance, and the vessel is actually being repaired at Elefsina shipyard.

Photo © Mike Louagie

Sep 07
Love0

Hellenic Seaways case will have to be investigated by Brussels

By 2017 Newsletter week 36

Grimaldi Group’s boss Emanuele Grimaldi says the acquisition of 50.3% of Hellenic Seaways (HSW) by Attica Group, is against the European competition rules. A complaint will be filed to the ‘Directorate General Competition’ of the European Commission.

Grimaldi Group, already owning 48.53% of HSW was hoping to become the majority shareholder. Until Attica made an agreement with Piraeus Bank (40.5%) and some smaller shareholders, in August. With this acquisition Attica, already operating Blue Star Ferries and Superfast Ferries, is doubling its fleet. Grimaldi, who also controls Minoan Lines (95%), sees this as a threat to fair competition.