PRESS RELEASES / ANNOUNCEMENTSBACK
EARNINGS BEFORE INTEREST AND DEPRECIATION (EBITDA) RISE BY 64% TO EURO 85.8 MLN AND NET PROFIT RISES BY 101% TO EURO 30.7 MLN FOR THE ATTICA GROUP FOR THE NINE MONTHS TO 30TH SEPTEMBER 2003
Attica Enterprises posted a 26% increase in turnover at Euro 310 mln, generated by the operation of the Superfast Ferries fleet (Euro 204.1 mln) and the Blue Star Ferries fleet (Euro 105.8 mln) for the nine months to 30th September, 2003. Earnings before interest, tax and depreciation (EBITDA) are Euro 85.8 mln against Euro 52.3 mln, an increase of 64% compared to the same period last year.
Net profit, for the Group rose by 101% at Euro 30.7 mln and includes earnings derived from Attica Enterprises’ participation in the Strintzis Lines Shipping S.A. Group of companies.
Specifically, the Group’s results for the period 1/1/03-30/9/03 are:
(in Euro mln) 1/1-30/9/03 1/1-30/9/02
Turnover 310.0 246.7 increase 26%
Earnings before Interest, Tax
and Depreciation (EBITDA) 85.8 52.3 increase 64%
Net Profit 30.7 15.3 increase 101%
Nine month financial results for 2003 include net financials of Euro 25.9 mln against Euro 26.9 mln in the same period last year and depreciation charges of Euro 30 mln against Euro 27 mln during the same period in 2002, and net extraordinary income of Euro 4.1 mln. Net extraordinary income includes profit from the sale of Superfast II which was concluded in September, 2003.
SUPERFAST FERRIES MAINTAIN LEADING POSITION IN THE GREECE-ITALY ROUTES IN THE ADRIATIC SEA FOR THE SIXTH CONSECUTIVE YEAR. IMPRESSIVE INCREASE IN VOLUMES CARRIED ON THE NORTHERN EUROPEAN ROUTES
On the Greece-Italy routes, the Superfast ferries ranked first for the sixth running year in the transportation of passengers, freight units and private vehicles with a market share of 31.8%, 31.7% and 25.9% respectively, on the total market traffic of passengers, freight units and private vehicles between all Italian ports and Greece on the Adriatic Sea routes.
On the direct Germany-Finland route, Superfast VII and Superfast VIII carried since the beginning of the year, over 140,000 passengers, 36,500 freight units and 45,000 private vehicles. Superfast Ferries ranks first in the transportation of passengers, private vehicles and accompanied freight units.
On the direct Scotland-Belgium route, which was launched on 17th May, 2002, Superfast IX and Superfast X carried up to the period ending on 30th September, 2003, over 145,000 passengers, 22,500 freight units and 31,500 private vehicles a very significant increase over last year.
STRONG INCREASE OF STRINTZIS’ GROUP (BLUE STAR FERRIES) FINANCIAL RESULTS FOR THE NINE MONTHS TO 30TH SEPTEMBER, 2003
Strintzis Lines Shipping S.A., in which Attica holds a controlling stake of 48.6%, reported earnings before interest, tax and depreciation (EBITDA) of Euro 25.9 mln (increase of 22.6%) and turnover at Euro 105.8 mln (increase of 11%) for the period to 30th September, 2003.
The steady growth exhibited in the Strintzis Lines Shipping S.A. (Blue Star Ferries) Group results is attributed primarily to the increase of passenger and private vehicle volumes carried in the Greek Island market where the Group is active. The Group employs ultra-modern newly-built vessels Blue Star Paros, Blue Star Naxos and Blue Star Ithaki, on the Cycladic Islands routes and on the new routes from Piraeus to the Dodecanese Islands and Chania, Crete, where Blue Star 1 and Blue Star 2 are the most popular.
The satisfactory operation of Superferry II and SeaJet 2, deployed on the Rafina-Cycladic Islands routes and car-passenger ferry Kefalonia which operates between the port of Patras and the islands of Cephalonia and Ithaca, also contributed to the improvement in Group results.
Voula, 19th November, 2003
Τhe Board of Directors