Attica Group: At 201.45 million euros, the consolidated sales in the six months – Economic Post

Attica Group: At 201.45 million euros, the consolidated sales in the six months – Economic Post
Attica Group: At 201.45 million euros, the consolidated sales in the six months – Economic Post

Its Board of Directors Attica Groupsubsidiary company of the Marfin Investment Group (MIG), announces the results of the first half of 2022, which present consolidated Sales of Euro 201.45 million (Euro 122.19 million in the first half of 2021), consolidated Losses before Taxes, Financing, Investment Results and Depreciation (EBITDA) of Euro 9 .61 million (Euro 4.38 million in the first half of 2021) and consolidated losses after taxes of Euro 30.54 million (losses of Euro 34.05 in the first half of 2021).

With the lifting of the reduced passenger transport protocol on ships from mid-March 2022, the Group’s turnover increased by 65% ​​compared to the corresponding period last year, marking the gradual return of the Group’s operations to pre-Covid-19 levels.

Read also – Attica: The agreement with ANEK was signed

The increase in transport work, and by extension the turnover of the Group, was offset by the prolonged very high price of fuel (a 99% increase in the average price of shipping fuel consumed in the first half of 2022 compared to the first half of 2022 semester 2021), resulting in a significant increase in operating costs.

The fuel price hedging operations for part of the quantity consumed by the Group’s ships, carried out within the framework of the Company’s applied policy, contributed by Euro 12.8 million to the reduction of the Group’s consolidated losses in relation to the first half of the year 2021.

  • The cash reserves of the Group amounted to Euro 67.88 million from Euro 97.36 million on 31.12.2021.
  • The Group’s total borrowing amounted to Euro 467.42 million compared to Euro 481.59 million on 31.12.2021.
  • The tangible assets of the Group amounted to Euro 684.91 million compared to Euro 673.84 million on 31.12.2021.
  • The Group’s equity amounted to Euro 344.44 million on 30.06.2022 and corresponds to Euro 1.6 per share of the Company.
  • On 30.06.2022 the Group employed 2,089 workers.

Shopping and transport work

Attica Group operates 33 ferries operating under the brands “Superfast Ferries”, “Blue Star Ferries” and “Hellenic Seaways”. Of these ships, 20 are conventional passenger-car ferries, 12 are high-speed ships and 1 ship is a cargo-car ferry. The ships of the Group operated itineraries in Greece (Cyclades, Dodecanese, Crete, NE Aegean, Saronic and Sporades) and on the International Greece – Italy route (Ancona, Bari, Venice).

The transport work of the Group, in relation to the first half of 2021, increased by 108% in passengers, by 56% in cars. vehicles and by 16% in trucks. The number of routes compared to the first half of 2021 increased by 54%. On the Adriatic and Crete lines, the Group’s ships operate in joint ventures with ANEKANEK -3.59% LINES ships.

Investments – Innovation

In June and July 2022, three state-of-the-art Aero Catamaran vessels were added to the Group’s fleet, which were built at the Brødrene Aa shipyards in Norway. Aero Highspeed 1, 2 and 3 started their routes on the Argosaronic routes at the beginning of August 2022, replacing older technology ships in the specific destinations.

Expansion of activities in the hotel industry

In the context of the implementation of the strategic plan for the expansion of its activities, the Attica Group started from 2021 to invest in a sector complementary to its main activity, the hotel sector, with the aim of exploiting its strong potential in Greek tourism. In this context, it acquired, through a 100% subsidiary of the company, the owner company of the Naxos Resort Beach Hotel located in Agios Georgios Naxos, and within 2022 the owner company of the Tinos Beach Hotel located in Kionia Tinos.

Agreement with creditors and shareholders of ANEK

On 21.9.2022 the Company informed the investing public that an agreement was reached with the largest creditors, as well as with shareholders representing 57.70% of the total share capital of ANEKANEK -3.59%, with the content of: a) the merger by absorption of ANEKANEK -3.59% by the Company in relation to the exchange of one (1) common or preferred share of ANEKANEK -3.59% for 0.1217 new common registered shares of ATTICA and b) the payment of the amount of Euro 80,000,000 for full and complete repayment of ANEKANEK’s -3.59% loan to the above creditors (unpaid capital amounting to Euro 236,419,251.23 plus the total amount of unpaid interest up to the date of completion of the transaction) from the consolidated scheme that will arise on the date completion of the merger. The agreement was signed on 23.9.2022.

Corporate governance

On 6.9.2022, the reorganization of the Board of Directors was announced, following the resignation of Mr. M. Sakellis and the election of Mr. H. Triga as a Non-Executive Member, as follows: Kyriakos D. Mageiras, President, Executive Member – George E. Efstratiadis, Vice-Chairman, Non-Executive Member – Spyridon C. Paschalis, CEO & Deputy Chairman, Executive Member – Ilias K. Trigas, Consultant, Non-Executive Member – Loukas K. Papazoglou, Consultant, Independent Non-Executive Member – Efstratios C- I. Hatzigiannis, Consultant, Independent Non-Executive Member – Maria Sarri, Consultant, Independent Non-Executive Member. The new composition of the Audit Committee was formed as follows: Efstratios G- I. Hatzigiannis, Chairman – Loukas K. Papazoglou, Member – Georgios E. Efstratiadis, Member, and of the Remuneration & Nomination Committee as follows: Loukas K. Papazoglou, Chairman- Efstratios G.-I. Hatzigiannis, Member – Ilias K. Trigas, Member.

Honors and awards

During the first half of 2022, Attica Group was awarded one award at the Green Awards 2022, nine awards at the Tourism Awards 2022, as well as seven awards at the Health & Safety Awards 2022.

Development of group work

During the eight months January – August 2022, the Group’s transportation project saw an increase in all revenue categories compared to the corresponding period last year. In particular, there was an increase of 42.8% in passengers, 19.4% in vehicles. vehicles and 13.6% in trucks, compared to the corresponding period last year. The above, combined with the stabilization of fuel prices during the last months, confirm the gradual return of the Group’s financial results to pre-Covid-19 levels.

In this highly volatile environment, the Group’s management continuously evaluates every new element arising from the energy crisis, the evolution of the pandemic, as well as geopolitical and economic developments, and plans performance optimization actions based on the resulting data , having as its main concern the protection of the Group’s financial position and the best possible service to passengers and local communities.


The article is in Greek

Tags: Attica Group million euros consolidated sales months Economic Post

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