Irish Continental Group plc: Preliminary Statement of Full Year Results
ICG reports a solid financial performance for the year ended 31 December 2019.
Irish Continental Group
+8.2% Revenue
+26.9% EBITDA (pre non-trading items)
+8.2% EBIT (including non-trading items)
- EBITDA increase of €18.4 million principally due to improved schedule integrity, the introduction of the W.B. YEATS and the implementation of IFRS16.
- Revenue increased €27.2 million (8.2%) to €357.4 million.
- B. YEATS cruise ferry delivered in December 2018 and entered service in January 2019.
- In April 2019, the group entered into a bareboat hire purchase agreement for the sale of the OSCAR WILDE to MSC Mediterranean Shipping Company SA, for a total gross consideration of €28.9 million to be paid in instalments over 6 years. The profit in 2019 from this sale was €14.9 million.
- Second new cruise ferry investment of €165.2 million ordered in 2018. Contracted for delivery in 2020.
Ferries Division
- +8.3% Revenue
- +1.8% Operating costs
- +25.3% EBITDA
- +7.1% Operating profit
- +10.4% roro units
- +2.6% passengers
- +2.2% car
