Attica Group: 20% increase in sales in 2021 – Significant reduction in losses

The Board of Directors of Attica Group (the “Company”), a subsidiary of the Marfin Investment Group (MIG), announces the results for the year 2021, which show a 20% increase in consolidated Sales, to Euro 347.91 million (Euro 290 , 40 million in the year 2020), an increase of 4% of consolidated Earnings before Taxes, Financial, Investment Results and Depreciation (EBITDA), to Euro 41.96 million (Euro 40.39 million in the year 2020) and a significant decrease of consolidated losses after taxes (losses of Euro 13.19 million in the year 2021 versus losses of Euro 49.42 million in 2020).

Attica Group’s turnover was affected for the second consecutive year by the COVID-19 coronavirus pandemic and the consequent restrictions on the movement of passengers and vehicles, as well as the imposition of a reduced passenger transport protocol on ships. The transport project of 2021 lags behind the pre-COVID – 19 period, and especially in relation to the fiscal year 2019, however, despite the restrictions on passenger traffic, especially during the first four months of 2021 and the delayed restart of tourist traffic, increased compared to that of the year 2020 and marks the gradual return to the normalization of the Group’s operations.

The above performance was achieved despite the significant increase in fuel prices, by more than 32% compared to the year 2020, resulting in the burden of the Group’s operating costs by Euro 31.76 million. of fuel prices carried out within the framework of the Company’s applied policy, contributed to the reduction of the Group’s consolidated losses in relation to the fiscal year 2020.

The cash of the Group amounted to Euro 97.36 million against Euro 80.53 million on 31.12.2020. The tangible fixed assets of the Group amounted to Euro 673.84 million against Euro 678.66 million on 31.12.2020, and mainly concern the privately owned vessels of the Group. The total borrowing of the Group amounted to Euro 481.59 million compared to Euro 430.54 million on 31.12.2020. The equity of the Group amounted to Euro 361.7 million on 31.12.2021 and corresponds to Euro 1.68 per share of the Company. On 31.12.2021 the Group employed 1,552 employees.

Shopping and transportation project

Attica Group has 30 ships operating under the “Superfast Ferries”, “Blue Star Ferries” and “Hellenic Seaways” brands. Of these ships, 20 are conventional passenger-vehicle ferries, 9 are high-speed and 1 ship is a freight-vehicle ferry. Within the current fiscal year 2022, three state-of-the-art newly built Aero Catamaran type ships are expected to be added to the Group’s fleet, which will be launched on the Saronic lines. All the ships of the Group are privately owned, except for one (1) passenger-vehicle ferry that is under long-term bare charter.

The Group’s ships operated ferry services in Greece (Cyclades, Dodecanese, Crete, NE Aegean, Saronic and Sporades) and on the Greek-Italian connecting lines (International Voyages), while one ship was chartered abroad. Since March 2021, Attica Group has announced the launch of a direct ferry connection between Thessaloniki and the islands of the North Aegean and the Cyclades.

The transport project of the Group, in relation to the year 2020, increased by 34% in passengers, by 38% in private cars. vehicles and by 11% in lorries. The number of itineraries in relation to the fiscal year 2020 increased by 12%.

On the Adriatic and Crete routes, the Group’s ships operate jointly with ANEK LINES ships.

Expansion of activities

As part of the implementation of its strategic plan for expansion in the hotel sector and the utilization of its strong dynamics in Greek tourism, in 2021, Attica Group acquired, through its 100% subsidiary, the owner company of the Naxos Resort Beach Hotel located in Agios Georgios Naxos.

Sustainable development – ESG issues

Attica Group operates responsibly throughout the range of its business operations, while emphasizing sustainable development. The Group has developed a Policy that describes the principles regarding the sustainable development and management of social and environmental issues, as well as governance issues (ESG), which focuses on 3 main Dimensions (Governance, Society, Environment) and 5 Units (Administration). , Society, Employees, Customers, Environment).

Investments

Attica Group, continuing its tradition in innovative shipbuilding, has signed an agreement with the Norwegian shipyard Brødrene Aa for the construction of three (3) state-of-the-art Aero Catamaran type ships, which will be launched on the Argosaronikos lines, replacing the older technology ship. in the specific destinations. The new ships have been designed with innovative features that fully upgrade the services offered and contribute significantly to reducing the environmental footprint and the gradual transition to a greener and more competitive economy.

Attica Group also completed the installation of scrubbers on the ships BLUE STAR DELOS and BLUE STAR MYCONOS, the third and fourth in a row of the Group ships in which the installation of scrubbers has been completed. The E / G-O / G ship EXPRESS PEGASUS, owned by a subsidiary of the Company, was sold for the purpose of its recycling in accordance with the European and Greek legislation for the safe and environmentally sound recycling of ships, in a ship recycling unit, which is included in the European Catalog Ship Recycling Units.

Development of group operations during the current year

During the two months January – February 2022, the Group’s transport work increased in all revenue categories. In particular, there was an increase of 155% in passengers, 93% in cars. vehicles and 16% in trucks, in relation to the corresponding period of 2021. The above data, in combination with the increase of the Group’s transport project in 2021 in relation to the fiscal year 2020, confirm the estimate that there is a gradual normalization of operations of the Group at the pre- COVID – 19 levels.

The gradual de-escalation of the pandemic, as well as the lifting of the restrictions on the passenger transport protocols on ships from 12.3.2022, are factors that will contribute decisively to the normalization of the Group’s operations. Nevertheless, the Russian invasion of Ukraine in February 2022, as a result of which the already increased prices of marine fuels increased to unprecedented levels, creates new data in the shipping industry. In particular, the average price of marine fuel in 2021 increased by 32.4% compared to the year 2020, while the average price of fuel in February this year increased further by 28% compared to December 2021. The trend for further price increase was maintained in March 2022.

The management has taken a series of actions such as adjusting the pricing policy to the new conditions, optimizing the ship’s itineraries, reducing speeds, as well as compensating the risk of fluctuations in the price of fuel for part of the consumed amount of fuel in order to deal with any impact.

The management of the Group continuously evaluates every new element that arises from the evolution of the pandemic and the Ukrainian crisis and proceeds to actively manage the ships’ itineraries, having as main concern the protection of the financial position of the Group and the best possible service of the passengers. and local communities.