ANEK reports 50% drop in passenger traffic

2021-05-14T19:56:57+00:00 May 14th, 2021|Finance|

Greek-based ferry operator ΑΝΕΚ Group carried 497,000 passengers last year, compared to just over 1 mill in 2019 a drop of 52% on 2% less itineraries.

A total of 115,000 private vehicles were carried, compared to 202,000 in 2019, a decrease of 43%, plus 121,000 trucks versus 129,000 in the previous year, down by 7%.

In terms of financial results, which were significantly impacted by the pandemic, in 2020 compared to 2019, ANEK Group showed a significant reduction in turnover and EBITDA, while recording losses after taxes and minority interests against profits in the previous year.

Key 2020 and 2019 figures were:

Group turnover: €124,452 mill vs €173,891 mill. Parent company turnover: €109,986 mill vs €157,039 mill.

Consolidated cost of sales: €109,681 mill vs €133,635 mill. Parent company cost of sales: €99,905 mill instead of €122,951 mill.

Group gross profits: €14,771 mill vs €40,256 mill. Parent company gross profits: €10,081 mill vs €34,088 mill.

Consolidated EBITDA: €6,867 mill versus €25,638 mill. Parent company EBITDA: €4,831 mill as opposed to €22,898 mill.

Group net results after taxes and minority rights: losses €15,066 mill, compared with earnings €2,577 mill. Parent company net results after taxes: losses €14,727 mill vs earnings €2,656 mill.

In August, 2020, the company’s bond loan was converted into common shares. The conversion resulted in an increase in the share capital by €10,8 mill with the issuance of 36.146.665 new common voting shares with a nominal value of €0,30 each.

As a result, ANEK’s share capital amounts to €67,4 mill divided into 224.801.557 common and preferred registered voting shares.

The vaccination programme’s progress against COVID-19 has strengthened the prospects for a partial economic recovery in 2021. However, the sharp decline in the passenger shipping industry, due to the pandemic and the travel restrictions, continued in the first months of 2021.

Of particular importance will be the summer season where the highest Group sales occur.

ANEK lines operates a fleet of nine owned and chartered vessels, all active on Greek and Adriatic routes.