DFDS Q1 On Track Strong Performance in North Sea

By | 2019 newsletter week 19 | No Comments

In Q1, revenue increased 11% to DKK 3.9bn driven by the expansion in the Mediterranean and stockpiling in UK ahead of the initial Brexit-date end of March. The Easter timing difference vs 2018 lowered passenger revenue.

EBITDA before special items increased 13% to DKK 677m driven by the Mediterranean expansion and strong performance in North Sea.

Baltic Sea’s result was lowered by one-off additional operating costs as capacity was maintained during dockings, one of which was extended. In addition, the Easter timing difference reduced passenger earnings compared to Q1 2018, especially in the Passenger business unit.

Logistics continued to improve performance in UK & Ireland. In Sweden and Belgium earnings were lower as Q1 2018 included peak earnings from a large contract.

The first in a series of six new freight ferries was delivered in February and successfully deployed in March between Istanbul and Trieste.

2019 EBITDA outlook unchanged: DKK 3.8-4.0bn (2018: DKK 3.6bn, restated)

Key figures Q1 2019

  • +11% Revenue: DKK 3.9bn (3.5)
  • +13% EBITDA: DKK 677m (597)
  • -22.3% Profit before tax DKK 159m (204)

Outlook 2019 Unchanged

  • 10-12% revenue growth
  • EBITDA-range of DKK 3.8-4.0bn (2018: DKK 3.6bn)

FINANCE

By | 2019 newsletter week 17 | No Comments

Increase In Revenue And EBITDA But Red-Figure Net Results For ANEK

Figures 2018:

-9% ferry crossings

-7% passengers = 965,000 (1,040,000)

-7% cars = 189,000 (204,000)

-5% freight units = 132,000 (139,000)

Financial results in a nutshell:

  • Increase in turnover and EBIDTA.
  • The increase resulted from the Adriatic Sea routes as well as from vessels’ chartering to companies abroad.
  • ANEK counterbalanced rising operating costs resulting from the increase in fuel prices by approximately 25%.
  • After three consecutive years of profitability, the Group and the Parent company recorded losses after taxes. Extraordinary provisions as well as financing and investing results had a negative effect on net results and equity, which turned negative.
  • Turnover: +2.1% Group / +2.8% Parent company
  • Gross profit: +0.6% Group / -2.1% Parent Company
  • EBITDA: +14% Group / +12.1% Parent Company

Net Results: Group -13.8 million (9.8 million) /Parent Company -13.2 million (12.6

Fincantieri’s 2017 results in line with Business Plan 2016-2020

By | 2018 Newsletter Week 12&13 | No Comments

Fincantieri noted record-high revenues exceeding EUR 5 billion, which is +13%.
EBITDA 341 million = +28%
Net result EUR 53 million = +279%

In a positive market, the yard group has a healthy order intake at EUR 8.6 billion (+31%).
The important order for new client Norwegian Cruise Line and the order for two new MSC Seaside class ships highlight the ability to attract new clients and retain existing ones.

With the new business plan, in 2022 the revenues will increase by up to approximately 50% (at current perimeter) and the EBITDA by up to approximately 100% versus 2017.

More sailings, cargo and pax for the Attica Group

By | 2017 Newsletter week 48 | No Comments

In its key financial figures for the nine-month period 2017, Attica Group presents the following results:

  • Revenues: EUR 215.46 million (status quo)
  • EBITDA: EUR 47.75 million (EUR 62.35 million)
  • Profit after tax: EUR 4.68 million (EUR 26.50 million)

The lower profit is mainly related to the significantly increased fuel oil price, which is a pity after better results on the transportation side:

  • Sailings +1.1%
  • Passengers +0.5%
  • Private vehicles +3.7%
  • Cargo units +1.8%

Approvals from the competent authorities are pending in order for the Company to complete the acquisition of a total 98.83% shareholding stake in Hellenic Seaways Maritime S.A.

Increased traffic volumes in all revenue categories for Attica Group

By | 2017 Newsletter week 40 | No Comments

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