In This Article:
TRADING UPDATE
Volumes (Year to date, 7 May 2022)
| 2022 | 2021 | Change vs 2021 | 2019 | ||
| Cars | 123,600 | 15,800 | +682.3% | 90,900 | |
| RoRo Freight | 223,900 | 82,700 | +170.7% | 105,400 | |
| Container Freight (teu) | 117,800 | 124,100 | (5.1%) | 125,000 | |
| Terminal Lifts | 115,100 | 114,800 | +0.3% | 115,700 |
Volumes – Legacy Routes (Year to date, 7 May 2022)
| 2022 | 2021 | Change vs 2021 | 2019 | ||
| Cars | 65,300 | 15,800 | +313.3% | 90,900 | |
| RoRo Freight | 100,800 | 82,700 | +21.9% | 105,400 |
Volumes (since last Trading Update, 5 March 2022)
| 6/3/22-7/5/22 | 6/3/21-7/5/21 | Change vs 2021 | 6/3/19- | ||
| Cars | 87,700 | 8,500 | +931.8% | 58,100 | |
| RoRo Freight | 129,900 | 44,300 | +193.2% | 55,800 | |
| Container Freight (teu) | 60,700 | 60,200 | +0.8% | 62,000 | |
| Terminal Lifts | 59,300 | 58,600 | +1.2% | 58,000 |
Volumes – Legacy Routes (since last Trading Update, 5 March 2022)
| 6/3/22-7/5/22 | 6/3/21-7/5/21 | Change vs 2021 | 6/3/19- | ||
| Cars | 46,100 | 8,500 | +442.4% | 58,100 | |
| RoRo Freight | 51,900 | 44,300 | +17.2% | 55,800 |
Irish Continental Group (ICG) issues this trading update which covers carryings for the year to date to 7 May 2022 and financial information for the first four months of 2022, i.e. 1 January to 30 April with comparisons against the corresponding periods in 2021 and 2019. All figures are unaudited.
Consolidated Group revenue in the period was €161.2 million, an increase of 80.5% compared with last year and a 57.6% increase on 2019. For banking covenant purposes, pre-IFRS 16 net debt figures were €123.2 million compared to €84.6 million at year end. Including IFRS 16 lease obligations, net debt figures were €174.2 million compared to €142.2 million at year end. The increase in net debt is primarily derived from strategic capital expenditure mainly comprising the acquisition of two vessels.
Ferries Division
Total revenues recorded in the period to 30 April amounted to €98.3 million (2021: €37.1 million) (including intra-division charter income), a 165.0% increase on the prior year (90.1% increase on 2019). The increase was principally due to the easing of travel restrictions as compared to the same period last year, increased fuel surcharges and the new Dover – Calais service which commenced in June 2021.
For the year to 7 May, Irish Ferries carried 123,600 cars, an increase of 682.3% on the previous year. Freight carryings were 223,900 RoRo units, an increase of 170.7% compared with 2021. Excluding volumes on the Dover – Calais route, Irish Ferries carried 65,300 cars (an increase of 313.3% on 2021) and 100,800 RoRo freight units (an increase of 21.9%).
Performance against the prior year in the period since our last trading update to 5 March shows strong growth, with car carryings and RoRo freight (excluding Dover – Calais carryings) up 442.4% and 17.2% respectively on the same period in 2021.