Business Irish

Thursday 24 October 2019

Brexit impacts Irish Ferries passenger bookings

Brexit had
Brexit had "some negative impact" on Irish Ferries UK passenger bookings in the lead up to the proposed exit date of 29 March this year
Ellie Donnelly

Ellie Donnelly

Irish Ferries operator, ICG, said Brexit had "some negative impact on UK passenger bookings" in the lead up to the proposed exit date of 29 March this year.

In the first four months of 2019 the group’s Ferries division reported revenue of €51.7m, a 1pc decrease on the prior year.

Meanwhile, for the year to 11 May, the group carried 95,000 cars, a decrease of 8.5pc on the previous year.

The decrease was due to lower tourism volumes as a result of the planned suspension of fastcraft services on the Dublin to Holyhead route for a period, as well as the uncertainty around Brexit.

In a trading update, ICG said the recent agreement between the Irish and British government to continue the Common Travel Area (CTA) whatever the outcome of the UK withdrawal negotiations was "a positive development".

Across all divisions, and group revenue in the four months to 30 April was €102.3m, an increase of 6.1pc compared with last year.

The group’s revenue is weighted towards the summer period due to the seasonality of tourism carryings.

Net debt at the end of April was €88.4m, compared with €80.3m at 31 December 2018.

Meanwhile, fuel costs were impacted by higher global fuel prices.

In the group’s container and terminal division, revenues recorded in the period to 30 April amounted to €53.2m, a 13.7pc increase on the prior year. This increase was driven by volumes, increased fuel surcharge against increased fuel costs and additional ancillary revenues.

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