Increase in Revenues at Irish Ferries, Also Fuel Costs Rise

24th November 2021

Irish Ferries parent owner, ICG released trading update on Volumes. Above the chartered in ropax Blue Star 1 at Rosslare Harbour from where it operates to Pembroke, south Wales. Credit: Rosslare Europort-twitter

Irish Ferries which is owned by the Irish Continental Group (ICG) has seen its revenue improve, helped by the easing of travel restrictions across the European Union in mid-July.

ICG has reported revenue of €279.7m for the year to date to November 20, up 22pc compared to last year.

As Independent.ie writes, the improved performance was partially offset by an increase in costs, primarily fuel, which increased 60pc versus 2020 due to increased sailings and higher global prices, according to a trading update from the group.

The Ferries Division has seen improved trading conditions in its passenger business following the easing of travel restrictions with the introduction of the EU Digital Covid Certificate.

While Brexit negatively impacted freight volumes in this division, it positively impacting freight revenue as more freight customers take the longer direct route to France, the company said.

Total revenues recorded in this division in the period to October 31 were €144.5m, up 24pc year-on-year.

For further figures on ICG's container (Lo-Lo) based divisions click here to continue.

Today's release of the Group's full trading update on Volumes (Year to date, 20 Nov. 2021) can be consulted here.

Published in Irish Ferries

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About The Author

Jehan Ashmore

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Jehan Ashmore is a marine correspondent, researcher and photographer, specialising in Irish ports, shipping and the ferry sector serving the UK and directly to mainland Europe. Jehan also occasionally writes a column, 'Maritime' Dalkey for the (Dalkey Community Council Newsletter) in addition to contributing to UK marine periodicals.

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