Trading Statement

TRADING UPDATE

Irish Continental Group plc (“ICG” or “the Group”) issues this trading update which covers carryings for the year to date to 3 May 2025 and financial information for the first four months of 2025, i.e. 1 January to 30 April with comparisons against the corresponding period in 2024. All figures are unaudited.

Volumes (Year to date, 3 May 2025)

	2025	2024	Change vs 2024
Cars	140,800	151,500	(7.1%)
RoRo Freight	259,400	260,900	(0.6%)
Container Freight (teu)	132,800	103,300	+28.6%
Terminal Lifts	123,500	112,500	+9.8%

  

Volumes (Since last update, 1 March to 3 May 2025)

	2025	2024	Change vs 2024
Cars	91,500	92,100	(0.7%)
RoRo Freight	147,200	143,200	+2.8%
Container Freight (teu)	69,000	55,700	+23.9%
Terminal Lifts	66,200	60,400	+9.6%

 
 

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.

Consolidated Group revenue in the period was €189.5 million (2024: €177.0 million), an increase of 7.1% compared with last year. For banking covenant purposes, pre-IFRS 16 net debt figures were €145.2 million compared to €56.6 million at 31 December 2024. On an IFRS basis to include lease obligations, net debt figures were €247.9 million compared to €162.2 million at 31 December 2024. The increase in net debt is due primarily to the vessel acquisitions outlined above and share buybacks during the period.