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Displaying items by tag: Covid Hits 2020

Irish Ferries, owned by the Irish Continental Group, has reported lower revenues and earnings for 2020 due to Covid-19 travel restrictions on its passenger business.

Irish Continental Group said its revenues for the year fell by 22.5% to €277.1m from €357.4m in 2019, while EBITDA slumped 51.5% to €42.1m from €86.8m.

Overall the group generated an operating loss of €10.4m compared to operating profits of €64.9m in 2019.

ICG Chairman John B McGuckian said that 2020 was an exceptionally challenging year for the group due to the restrictions placed on travel due to the Covid-19 pandemic.

But the chairman said that while these restrictions brought large-scale disruption and reductions in its passenger business, the other parts of the business proved resilient throughout the entire year. 

More details reports RTE News here. 

Published in Irish Ferries

About Stena Line

Stena Line is one of Europe's leading ferry companies with 37 vessels and 17 routes in Northern Europe operating 25,000 sailings each year. Stena Line is an important part of the European logistics network and develops new intermodal freight solutions by combining transport by rail, road and sea. Stena Line also plays an important role for tourism in Europe with its extensive passenger operations. The company is family-owned, was founded in 1962 and is headquartered in Gothenburg. Stena Line has 4,300 employees and an annual turnover of 14 billion SEK.

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