1st QUARTER 2018 RESULTS
1st QUARTER 2018 RESULTS
Attica Group, subsidiary of the Marfin Investment Group, announces the Group's 1st Quarter 2018 key financial figures. In particular, Consolidated Revenue stood at Euro 49.43mln compared to Euro 44.83mln in 1st Quarter 2017 (increase of 10.3%) resulting in Losses before interest, taxes, investing and financial results, depreciation and amortisation (EBITDA) of Euro 1.33mln compared to losses of Euro 4.00mln for the same period in 2017. EBITDA improvement is mainly attributed to the increased Revenue of the Group despite rising fuel oil prices during the 1st quarter 2018.
It should be noted, that the passenger ferry sector is characterized by strong seasonality and the first three months of the year are the weakest of all quarters.
TRAFFIC VOLUMES
During the period January – March 2018, Group's vessels carried 603 thousand passengers against 535 thousand in the same period in 2017, 92 thousand private vehicles against 79 thousand in the same period in 2017 and 73 thousand freight units against 68 thousand in the same period in 2017, with 1.1% less sailings compared to the same period in 2017.
CURRENT DEVELOPMENTS
On May 25, 2018 the Company announced the completion of the acquisition of a majority stake (50.30%) in HELLENIC SEAWAYS MARITIME COMPANY S.A. (HSW). The management of the Company is proceeding immediately with the operational integration of HSW and expects, within the following fifteen days, the completion of the required contractual actions in order to acquire an additional 48.53% of HSW's share capital from “Minoan Lines S.A.”, which will raise its total stake at 98.83% of the share capital of HSW.
Kallithea, June 1, 2018