Irish Continental Group, Owner of Irish Ferries Returns to Profit in 2022

9th March 2023

ICG's Irish Ferries Dover-Calais service was further expanded by the introduction of the Isle of Inisheer on the route in 2022, however AFLOAT adds the ropax ferry is currently out of service from the UK-France route and is at Harland & Wolff, Belfast for winter dry-docking. Services are been maintained by Isle of Inishmore, while third route ferry, Isle of Innisfree is also out of service following an engine-room fire almost a week ago, with the ferry remaining berthed in Calais. Credit: Irish Ferries retweeted

The Irish Continental Group (ICG) which is the parent company of Irish Ferries, has posted a return to profit last year as the Group's annual revenues jumped.

ICG have reported €66.7m in profits for the year to the end of December when compared to a loss of €200,000 in 2021.

Revenues at ICG have jumped sharply by 75% to €585m from €334.5m and its basic earnings per share for the year have amounted to 33.6 cent.

The group said that the number of cars carried on Irish Ferries four routes during the year had soared by 181.6% to 573,400 cars from 203,600 cars in 2021. The increase arises from the lifting of Covid-19 travel restrictions.

In addition the impressive trading performance follows the expansion last April on the Dover-Calais service with the introduction on the UK-France service of a third ferry, Isle of Inisheer (as above photo). Whereas as the RTE News report on the profits and also a file photo of the Isle of 'Innisfree' which Afloat adds had recently an engine-room fire as previously reported.

Passenger numbers have also jumped by 246.7% to reach 2,315,000 last year from a total of 667,800 during 2021.

ICG said the RoRo freight market between the Republic of Ireland to the UK and France and the Dover Straits fell slightly in 2022, with the total number of trucks and trailers decreasing by 1.1% to about 4,389,700 units.

More from RTE News on Irish Ferries and ICG's Lo-Lo /container divisions including EUCON which operates direct routes between Ireland and mainland Europe.

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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