French based cross channel ferry operator, Brittany Ferries has reported strong operational results for 2024, confirming its return to growth.
For example, the company’s consolidated revenue, excluding Condor Ferries, was €516 mill, a 6.5% increase on 2023’s figures.
The passenger sector continued its steady recovery, with nearly 2 mill carried, a 6.5% rise (5.4% on the Spanish routes and 6.9% on Channel Island routes), compared to the previous year.
On the Channel routes, Brittany Ferries claimed to have outperformed its competitors.
Freight volumes also increased by 4%, with the Spanish and Irish routes leading the way with an 8.3% rise.
However, compared to pre-Covid days, freight remained down 19% overall and passengers down by 15%.
Despite the introduction of the EU Emissions Trading Scheme (ETS), which added an €8 mill in costs last year, Brittany Ferries maintained solid operational profitability.
The company has also significantly reduced its Covid-related debt, fulfilling commitments to repay regional loans and progressing towards a 50% reduction in its state-guaranteed loan by the end of this year.
Major decisions taken over the past decade, particularly the development of long-haul routes to Spain and Ireland, now contribute nearly half of Brittany Ferries’ total revenue.
Brittany Ferries has welcomed new private investors and had the unwavering support of its shareholders, the company said.
