Trading Update

 

IRISH CONTINENTAL GROUP ("ICG" or the Group)
  
Volumes (Year to date, 25 July 2020)

	2020	2019	Change
Cars	68,900	209,900	-67.2%
RoRo Freight	173,500	175,400	-1.1%
Container Freight (teu)	178,300	199,200	-10.5%
Terminal Lifts	160,100	185,300	-13.6%

Volumes (Half Year 30 June 2020)

	2020	2019	Change
Cars	56,600	161,200	-65.0%
RoRo Freight	149,400	153,600	-2.7%
Container Freight (teu)	155,700	176,300	-11.7%
Terminal Lifts	141,000	163,100	-13.5%

ICG issues this trading update which covers carryings for the year to date to 25 July 2020 and carrying and financial information for the first six months of 2020, i.e. 1 January to 30 June with comparisons against the corresponding period in 2019. All figures are unaudited.

Consolidated Group revenue in the period to 30 June 2020 was €130.8 million, a decrease of 21.6% compared with last year. Net debt at the end of June was €103.3 million (€71.8 million pre IFRS16) million compared with €129.0 million (€93.5 million pre IFRS16) at 31 December 2019.

Ferries Division

Total revenues recorded in the period to 30 June amounted to €61.6 million (including intra-division charter income), a 33.3% decrease on the prior year. The decrease was principally due to lower passenger volumes resulting from the travel restrictions introduced across the EU due to the Covid-19 pandemic.

For the year to 25 July, Irish Ferries carried 68,900 cars, a decrease of 67.2% on the previous year. Freight carryings were 173,500 RoRo units, a decrease of 1.1% compared with 2019. 

Container and Terminal Division

Total revenues recorded in the period to 30 June amounted to €73.2 million, a 6.6% decrease on the prior year. This decrease is principally related to supply chain disruption due to the effects of Covid-19.