Irish Continental Group Plc · EURONEXT:IR5B
Irish Continental — H1 2021 Earnings Presentation
35 slides from Irish Continental's earnings presentation, Aug 26, 2021
Slide 1: 2021 Half Year Results Presentation
2021 Half Year Results Presentation 26th August 2021
Slide 2: Half Year 2021 Performance Summary
Half Year 2021 Performance Summary Revenue • Revenue for the half year increased by 8.3% to €141.6 million (2020: €141.6m €130.8 million). In the Ferries division revenue* increased by 2.1% to €62.9 million (2020: €61.6 million) while in the Container and Terminal division revenue* increased by 16.4
Slide 3: ICG Business Units
ICG Business Units Ferries Division Container & Terminal Division Irish Ferries, the leading ferry Eucon, the leading container shipping company operating between the operator between Ireland and the UK/Continent and the Republic of Continent. Dublin Ferryport Terminals Ireland. The division is also
Slide 4: Ferries Division
Ferries Division Irish Continental Group 2021 Half Year Results Presentation – 26th August 2021
Slide 5: Ferries Division: Weekly Sailings
Ferries Division Weekly Sailings 2021 2020 Dublin - Holyhead Ulysses 28 28 Dublin Swift 281 282 Epsilon / W.B. Yeats 16/24 26/28 72/80 82/84 Rosslare - Pembroke Isle of Inishmore 28 28 Total Ireland - UK 100/108 110/112 Ireland - France Epsilon / W.B. Yeats 8/9 6/7 Total Irish Sea 108/117 116/119 Do
Slide 6: Ferries Division
Ferries Division Brand: Irish Ferries Sailings 2020 Owned: - 3 cruise ferries 7% Holyhead: 2,800 - 1 fast ferry Sailings - 6 container ships 31% Pembroke: 1,400 Charter in: - 1 cruise ferry Sailings 1 ropax ferry 62% France: 300 Sailings Travel Safe Programme Strategic routes In 2020, Irish Ferries
Slide 7: Ferries Division: Car and RoRo Market
Ferries Division Car Market CAGR (Volumes, excl. Dover - Calais) YTD July / H1 1 Year 3 Years 5 Years 10 Years 27 Years 21st Aug August 2021 2020 2016 - 2014 - 2009 - 1992 - 2019* 2019* 2019* 2019* Irish Ferries -21% +30% -47% -66% -1% +1% +1% +2% Republic of Ireland -45% -64% -1% 0% -1% +1% All Ire
Slide 8: Ferries Division: RoRo Market Nov 2020 – Aug 2021
Ferries Division RoRo Market Nov ‘20 – Aug ’21 (excl. Dover – Calais) Nov – Aug Nov – Jun* Feb ’21 Jan ’21 Dec ’20 Nov ’20 Irish Ferries -7% -3% -26% -37% +38% +25% Republic of Ireland 3% -16% -29% +32% +15% All Ireland +10% -6% -17% +26% +11% *Figures presented to remove pre and post Brexit market
Slide 9: Ferries Division - Ship Chartering activities
Ferries Division -Ship Chartering activities Ship Chartering Revenue H1 2021 H1 2020 FY 2020 €m €m €m External 3.0 3.0 5.9 Internal 5.8 3.5 8.6 Total 8.8 6.5 14.5 • External charter revenues were in line with the prior year. • Charter fleet at June 2021 comprised of 6 LoLo vessels. 4 of these vessel
Slide 10: Ferries Division
Ferries Division H1 H1 Change FY 2021 2020 2020 €m €m €m Revenue* 62.9 61.6 +2.1% 141.4 Operating Costs (63.5) (60.5) +5.0% (119.1) EBITDA (0.6) 1.1 -154.4% 22.3 Non-trading item - - (11.2) Depreciation/Amortisation (18.3) (16.4) -11.6% (34.6) Operating (Loss)/Profit (18.9) (15.3) (23.5) • Passenger
Slide 11: Container and Terminal Division
Container and Terminal Division Irish Continental Group 2021 Half Year Results Presentation – 26th August 2021
Slide 12: Container & Terminal Division
Container & Terminal Division • 6 chartered vessels • 4,200 owned and leased containers, 8,100 teu (20ft, 40ft, 45ft, reefers, flats, curtain siders) • Operating between the Ports of Dublin, Cork and Belfast to Rotterdam and Antwerp • Door to Door (53%) Transport plus Quay to Quay (47%) (feeder) • D
Slide 13: Container & Terminal Division
Container & Terminal Division Irish Continental Group 2021 Half Year Results Presentation – 26th August 2021 13
Slide 14: Dublin Ferryport Terminals
• 150 year lease in Dublin from 1972 • Volume to June 21 up 17% at 100,400 lifts • 177,100 lifts in 2020 (2019: 190,600 lifts) • Current Design Capacity of 220,000 lifts • Container Depot DFCD will move to Inland Port in November 2021 • Cap-ex Project €15m (2022/23) including the order of 5 new Elec
Slide 15: Belfast Container Terminal
• Concession from Belfast Harbour Commissioners (BHC) extended for 6 years to 2026 (option with BHC to extend for a further 3 years) • Volume to June 21 up 19% at 65,100 lifts • 115,300 lifts in 2020 (2019: 130,200) • £40 million investment programme being undertaken by BHC • Design Capacity of BCT
Slide 16: Container Handling Ireland
Container & Terminal Division - Container Handling Ireland CAGR (Volumes) H1 1 Year 3 Year 5 Year 2021 2020 2017-20 2015-20 ICG 18% -9% -1% 3% All Ireland 18% -2% 2% 3% Irish Continental Group 2021 Half Year Results Presentation – 26th August 2021 16
Slide 17: Container & Terminal Division
Container & Terminal Division H1 2021 H1 2020 Change FY 2020 €m €m €m Revenue* 85.2 73.2 +16.4% 146.5 Operating Costs (71.9) (64.3) +11.8% (126.7) EBITDA 13.3 8.9 +49.4% 19.8 Depreciation/Amortisation (4.7) (3.1) +51.6% (6.7) Operating Profit 8.6 5.8 +48.3% 13.1 • Container volumes up 13.5% at 176,7
Slide 18: Group
Group • Results • Fuel Costs • Cash Flow • Share Performance/Dividends/Share Buybacks • Net cash and available borrowing facilities • Current Trading/Outlook Irish Continental Group 2021 Half Year Results Presentation – 26th August 2021
Slide 19: Group - Results
Group - Results H1 2021 H1 2020 Change FY 2020 Revenue €141.6m €130.8m +8.3% €277.1m Operating Costs (exc. Dep) €(128.9)m €(120.8)m +6.7% €(235.0)m EBITDA €12.7m €10.0m +27.0% €42.1m Non-trading items - - €(11.2)m Operating (Loss) / Profit €(10.3)m €(9.5)m €(10.4)m Basic EPS (6.8)c (6.2)c (10.2)c Ad
Slide 20: Group - Fuel Costs
Group - Fuel Costs H1 2021 H1 2020 Change Consumption (000 tons) Heavy Fuel Oil 52.2 35.9 +45.4% Marine Diesel 8.1 14.8 -45.3% 60.3 50.7 +18.9% Average Price (€ per ton) Heavy Fuel Oil €356 €303 +17.6% Marine Diesel €416 €387 +7.5% Brent Crude (guide) $65/€53.9 $42/€38.2 +54.8%/+41.1% Total Cost (in
Slide 21: Group - Cash Flow
Group - Cash Flow H1 2021 €m H1 2020 €m FY 2020 €m EBITDA 12.7 10.0 42.1 Working capital movement 6.1 6.9 10.6 Pension payments - (0.6) (1.1) Other 0.1 (0.5) (0.4) Cash generated from operations 18.9 15.8 51.2 Interest paid (2.8) (1.7) (3.7) Tax (0.3) (0.3) (1.4) Purchases of property, plant and equ
Slide 22: Group – Share Performance/Dividends/Share Buy Backs
Group – Share Performance/Dividends/Share Buy Backs ICG shares: Total return CAGR since flotation on 14/04/88 to 30/06/21 - 15.7% Cash Returned to Shareholders 2008 - 2020 Buyback/ Year Interim (Cent) Final (Cent) Total (Cent) €m Tender Offer €m 2008 Nil 10.0c 10.0c 24.6 2009 Nil 10.0c 10.0c 25.0 20
Slide 23: Net Cash and Available Borrowing Facilities
Net Cash and Available Borrowing Facilities Latest Maturity Fixed Rate Facility Undrawn On-hand / drawn €m €m €m Cash - 131.1 131.1 Committed lending facilities: Bank overdrafts Annually Variable 15.4 15.4 - Revolving credit Up to 2024 Variable 75.0 75.0 - EIB Amortising Loan #1 2030 1.724% 67.5 - 6
Slide 24: Group - Current Trading/ Outlook
Group - Current Trading/ Outlook General • Covid-19 continues to materially impact on our passenger business. • The Group welcomes the introduction of the EU Digital Covid Certificate and the easing of restrictions on non- essential passenger travel, however, the timing of its introduction limits th
Slide 25: Appendix Fleet
Appendix Fleet Irish Continental Group 2021 Half Year Results Presentation – 26th August 2021
Slide 26: Appendix – Fleet: Ulysses
Appendix – Fleet Ulysses Year Built 2001 Cost €106m GT 50,938 tons PAX 1875 Cars 1342 Lane Meters 4.1km Speed 22 knots Route Dublin / Holyhead Irish Continental Group 2021 Half Year Results Presentation – 26th August 2021 26
Slide 27: Appendix – Fleet: Isle of Inishmore
Appendix – Fleet Isle of Inishmore Year Built 1997 Cost €81m GT 34,031 tons PAX 2200 Cars 855 Lane Meters 2.1km Speed 21.5 knots Route Dover / Calais Irish Continental Group 2021 Half Year Results Presentation – 26th August 2021 27
Slide 28: Appendix – Fleet: Dublin Swift
Appendix – Fleet Dublin Swift Year Built 2001 (refurbished 2018) Cost $13.25m GT 8,403 tons PAX 817 Cars 250 Speed 35 knots Route Dublin/ Holyhead from March-September Irish Continental Group 2021 Half Year Results Presentation – 26th August 2021 28
Slide 29: Appendix – Fleet: W.B Yeats
Appendix – Fleet W.B Yeats Delivery 2018 Cost (incl. Scrubber) €151m GT 50,000 tons PAX 1,885 Beds 1,706 Cars (Max) 1,216 Lane Meters (excl Car 2.8km Deck) Speed 22.5 knots Route Dublin/ Holyhead, Dublin/ France Irish Continental Group 2021 Half Year Results Presentation – 26th August 2021 29
Slide 30: Appendix – Fleet (Chartered)
Appendix – Fleet (Chartered) Epsilon Year Built 2011 Cost Charter Vessel GT 26375 PAX 530 Cars 733 Lane Meters 2868 Speed 22.75 Route Dublin-Holyhead / Dublin-Cherbourg Blue Star 1 Year Built 2000 Cost Charter Vessel GT 29858 PAX 1890 Cars 700 Lane Meters 2224 Speed 28 Route Rosslare-Pembroke Irish
Slide 31: Appendix – Fleet
Appendix – Fleet Ranger IMO 9322542 Built 2005 LOA 140.59 Breadth 21.8 GT 7,852 Dead Weight 9,300 Size TEU 803 TEU @ 14tns 518 Elbfeeder IMO 9388522 Built 2008 LOA 139.60 Breadth 22.0 GT 8,246 Dead Weight 11,157 Size TEU 974 TEU @ 14tns 580 Irish Continental Group 2021 Half Year Results Presentation
Slide 32: Appendix - Fleet
Appendix - Fleet CT Rotterdam IMO 9395575 Built 2009 LOA 139.60 Breadth 22 GT 8,273 Dead Weight 11,157 Size TEU 974 TEU @ 14tns 580 Thetis D IMO 9372274 Built 2009 LOA 168.11 Breadth 26.8 GT 17,488 Dead Weight 17,861 Size TEU 1,421 TEU @ 14tns 1,039 Irish Continental Group 2021 Half Year Results Pre
Slide 33: Appendix – Fleet
Appendix – Fleet Elbtrader IMO 9388534 Built 2008 LOA 139.60 Breadth 22.0 GT 8,246 Dead Weight 11,153 Size TEU 974 TEU @ 14tns 580 Elbcarrier IMO 9388510 Built 2007 LOA 139.60 Breadth 22.0 GT 8,246 Dead Weight 11,166 Size TEU 974 TEU @ 14tns 580 Irish Continental Group 2021 Half Year Results Present
Slide 34: Appendix – Fleet (Chartered)
Appendix – Fleet (Chartered) MV Music IMO 9328053 Built 2007 LOA 140.593 Breadth 22.01 GT 7,852 Dead Weight 9,300 Size TEU 803 TEU @ 14tns 518 Irish Continental Group 2021 Half Year Results Presentation – 26th August 2021 34
Slide 35: Disclaimer
Disclaimer This presentation may contain certain forward-looking statements. These statements are made by the Directors in good faith based on the information available to them up to the time of their approval of this presentation. These forward-looking statements should be treated with caution due
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