8th May 2025 11:03
(Alliance News) - Irish Continental Group PLC on Thursday reported a mixed performance for the year so far, with revenue mostly rising but some declines in volumes.
The Dublin-based ferry operator said that for 2025 to date, up to May 3, Cars volumes (carried by Irish Ferries) fell 7.1% on-year to 140,800 from 151,500. RoRo Freight volumes decreased 0.6% to 259,400.
However, Container Freight volumes jumped 29% to 132,800 twenty-foot equivalent units, and Terminal Lifts volumes rose 9.8% to 123,500.
From March 1 to May 3, volumes rose annually in all four categories except for Cars, where they decreased 0.7%.
Irish Continental said consolidated group revenue "in the period" totalled EUR189.5 million, up 7.1% from EUR177.0 million last year.
Net debt at May 3 was EUR247.9 million post-IFRS, up from EUR162.2 million at December 31 which Irish Continental attributed to share buybacks and vessel acquisitions.
For its Ferries division, the firm said total revenue in the period to April 30 was EUR118.8 million, down 0.8% from EUR119.7 million.
Regarding the above-mentioned 7.1% drop in Cars volumes, Irish Continental said the closure of Holyhead Port earlier this year "had a detrimental impact on volumes" although the market became "more normalised" after the port reopened in mid-January.
The Container & Terminal Division reported EUR80.9 million in revenue for the period to April 30, up 18% on-year from EUR68.8 million.
Going forward, Irish Continental noted: "The introduction of tariffs by the US administration has created uncertainty for some trading flows and risks damaging consumer confidence which may lead to some companies deferring investment plans. All these factors may dampen world growth prospects.
"However, given the strength of our business model and our balance sheet, we continue to avail of macro market weakness to expand our footprint on financially attractive terms. Recent examples are the purchase of the James Joyce cruise ferry and the purchase of another container ship."
Shares in Irish Continental were untraded at 460.00 pence on Thursday morning in London. They last sold for 435.81p on Wednesday afternoon.
By Emma Curzon, Alliance News reporter
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