Attica Group has reported an increase in revenue in both its domestic and international routes for the first half of this year, compared to 1H22.
Overall, the consolidated revenue increased by 21% reaching €244.26 mill from €201.45 mill in the previous period, with an 18% increase in the number of sailings, as well as an increase in vessels utilisation rate.
This was supported by the lifting, since mid-March, 2022, of the Greek state imposed reduced capacity protocol for passengers, due to the Covid-19 restrictions.
EBITDA stood at €47.49 mill (loss of €9.61 mill in 1H22) and consolidated profit after taxes amounted to €3.25 mill, compared to losses after taxes of €30.54 mill in 1H22.
Group operating expenses in 1H23, totalled €190.6 mill down from $ 211.91 mill in the same period of 2022, mainly due to the drop in fuel prices and partially countered by a rise in crew expenses, vessels’ maintenance and repair costs.
The increase in Group revenue, combined with the reduction in operating expenses during the period, led to an increase in gross profit, as well as in EBITDA, Attica said.
Group Equity stood at €362.51 mill at the end of 1H23, from €357.75 mill as at 31st December, 2022.
Attica Group deploys 34 vessels sailing under the banners of ‘Superfast Ferries’, ‘Blue Star Ferries’ and ‘Hellenic Seaways’, of which 20 are conventional ropaxes, 12 are high speed catamaran vessels and two are roros.
They operate οn Greek domestic routes (Cyclades, Dodecanese, Crete, Northeast Aegean, Saronic and Sporades) and οn the international Greece/Italy routes (Ancona, Bari and Venice).
Traffic volumes in 1H23 amounted to 2.4 mill pax (2.1 mill in 1H22), 365,000 private vehicles (352,000 in 1H22) and 209,000 freight units (208,000 in 1H22).
The number of 1H23 sailings totalled 7,968 (6,760 in 1H22). In the Adriatic Sea and on Cretan routes, Group vessels operate in a joint service with ANEK.
The Group continued the implementation of its investment plan (totalling over €100 mill) for the energy and environmental upgrade of its fleet, as well as for fuel cost savings and further digitisation of its operations.
Total cash outflows from investing activities amounted to €28 mill in 1H23. During the period, the company completed the installation of scrubbers on board ‘Superfast I’ (May, 2023) and ‘Superfast II’ (July, 2023).
During the two-month period July/August, 2023, Attica increased its turnover by 2.6%, compared to the corresponding period last year.
For the entire fiscal year 2023, an increase is expected in turnover and net income, compared to fiscal year 2022.
Attica’s management is actively evaluating opportunities to optimise vessel deployments and traffic volumes evolution, whilst implementing the investment plan and enhancing its capital structure and liquidity, the company said.
