Trading Update Statement
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Irish Continental Group plc ("ICG" or "the Group") issues this trading update which covers carryings for the year to date to 4 May 2024 and financial information for the first four months of 2024, i.e. 1 January to 30 April with comparisons against the corresponding period in 2023. All figures are unaudited.
Volumes (Year to date, 4 May 2024)
| 2024 | 2023 | Change vs 2023 | |
|---|---|---|---|
| Cars | 153,200 | 126,400 | 21.2% |
| RoRo Freight | 262,500 | 225,400 | 16.5% |
| Container Freight (teu) | 104,400 | 98,500 | 6.0% |
| Terminal Lifts | 113,400 | 103,000 | 10.1% |
Consolidated Group revenue in the period was €177.0 million (2023: €163.4 million), an increase of 8.3% compared with last year. For banking covenant purposes, pre-IFRS 16 net debt figures were €108.8 million compared to €111.1 million at 31 December 2023. On an IFRS basis to include lease obligations, net debt figures were €141.2 million compared to €143.7 million at 31 December 2023.
Ferries Division
Total revenues recorded in the period to 30 April amounted to €119.7 million (2023: €106.9 million) (including intra-division charter income), a 12.0% increase on the prior year.
For the year to 4 May, Irish Ferries carried 153,200 cars (2023: 126,400 cars), an increase of 21.2% on the previous year. Freight carryings were 262,500 RoRo units (2023: 225,400 units), an increase of 16.5% compared with 2023.
Total revenues also include customer surcharges related to fuel movements and the cost of emission allowances under the EU Emission Trading System (ETS) since 1 January 2024.
Container and Terminal Division
Total revenues recorded in the period to 30 April amounted to €68.8 million (2023: €69.6 million), a 1.1% decrease on the prior year.
For the year to 4 May, container freight volumes shipped were 104,400 teu (2023: 98,500 teu) an increase of 6.0% on the previous year. Volumes handled at our terminals in Dublin and Belfast totalled 113,400 units (2023: 103,000 units), an increase of 10.1% year on year.
Total revenues include customer surcharges covering fuel movements, emission costs under ETS and the impact of changes in the costs of chartering container ships.
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