Irish Continental Group Plc · EURONEXT:IR5B
Irish Continental — FY2020 Earnings Presentation
32 slides from Irish Continental's earnings presentation, Mar 11, 2021
Slide 1: 2020 Results Presentation
2020 Presentation 11th March 2021 Irish Continental Group 2020 Results Presentation – 11th March 2021 1
Slide 2: Full Year 2020 Performance Summary
Full Year 2020 Performance Summary Revenue • Revenue for the year decreased by 22.5% to €277.1 million (2019: €357.4 €277.1m million). In the Ferries division revenue* decreased by 33.4% to €141.4 million (2019: €212.4 million) while in the Container and Terminal division revenue* decreased by 5.1%
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 Irish Group Continental Group2020 Results 2020 Presentation Results – 11 Presentation – 11March th th 2021 March 2021 44
Slide 5: Ferries Division – Routes
Ferries Division – Routes 44% Weekly Sailings 2021 2020 Dublin - Holyhead Ulysses 28 28 Dublin Swift 281 02 Epsilon / W.B. Yeats 26/28 26/28 51% 82/84 82/84 Rosslare - Pembroke Isle of Inishmore 28 28 Total Ireland - UK 110/112 110/112 2020 RoRo Volume Shares Ireland - France 5% Epsilon / W.B. Yeats
Slide 6: Ferries Division
Ferries Division Brand: Irish Ferries Sailings 2020 Owned: - 3 cruise ferries 7% 26% Holyhead: 2,800 - 1 fast ferry Sailings - 6 container ships 31% Pembroke: 1,400 Charter in: - 1 ropax ferry 66% Sailings 62% France: 300 Sailings Travel Safe Programme Strategic routes In 2020, Irish Ferries rapidly
Slide 7: Ferries Division
Ferries Division Car Market CAGR (Volumes) YTD H2 H1 1 Year 3 Years 5 Years 10 Years 27 Years 6th March 2020 2020 2020 2016 - 2014 - 2009 - 1992 - 2019* 2019* 2019* 2019* Irish Ferries -76% -67% -65% -66% -1% +1% +1% +2% Republic of Ireland -64% -63% -64% -1% 0% -1% +1% All Ireland -48% -57% -52% 0%
Slide 8: Ferries Division
Ferries Division RoRo Market Nov ‘20 – Feb ‘21 Nov – Feb Nov – Jan Feb ’21 Jan ’21 Dec ’20 Nov ‘20 Irish Ferries 0% 9% -26% -37% 38% 25% Republic of Ireland 5% -29% 32% 15% All Ireland 6% -17% 26% 11% Irish Continental Group 2020 Results Presentation – 11th March 2021 8
Slide 9: Ferries Division - Ship Chartering activities
Ferries Division -Ship Chartering activities Ship Chartering Revenue FY 2020 FY 2019 €m €m External 5.9 5.3 Internal 8.6 7.0 Total 14.5 12.3 • External charter revenues up €0.6 million due to a full 12 month charter of the MV Thetis and income on the deferred consideration for the sale of the MV Osc
Slide 10: Ferries Division
Ferries Division FY FY Change 2020 2019 €m €m Revenue* 141.4 212.4 -33.4% Operating Costs (119.1) (145.2) -18.0% EBITDA 22.3 67.2 -66.8% Non-trading item (11.2) 14.9 Depreciation/Amortisation (34.6) (30.8) 12.3% Operating (Loss)/Profit (23.5) 51.3 • Passenger, car & on-board revenue down 70% to €33.
Slide 11: Container and Terminal Division
Container and Terminal Division IrishIrish Continental Group Continental 2020 Group Results 2020 Presentation Results – 11–th11 Presentation March 2021 th March 2021 11 11
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 2020 Results Presentation – 11th March 2021 13
Slide 14: Container & Terminal Division - Terminals
Container & Terminal Division - Terminals 2 strategically located container handling terminals at Dublin (DFT) and Belfast (BCT). • 150 year lease in Dublin from 1972 • Concession from Belfast Harbour Commissioners (BHC) • Annual throughput of 177,100 lifts extended for 6 years to 2026 (option with
Slide 15: Container & Terminal Division - Container Handling Ireland
Container & Terminal Division - Container Handling Ireland CAGR (Volumes) CAGR (Volumes) 1 Year 3 Year 5 Year 2020 2017-20 2015-20 ICG Dub/Bel -9% -1% 3% ICG*Excl. Belfast -7% 1% 2% All Ireland -2% 2% 3% Irish Continental Group 2020 Results Presentation – 11th March 2021 15
Slide 16: Container & Terminal Division
Container & Terminal Division FY 2020 FY 2019 Change €m €m Revenue* 146.5 154.4 -5.1% Operating Costs (126.7) (134.8) -6.0% EBITDA 19.8 19.6 +1.0% Depreciation/Amortisation (6.7) (6.0) +11.7% Operating Profit 13.1 13.6 -3.7% • Container volumes down 7.9% at 316,300 teu. • Terminal volumes down 8.9%
Slide 17: Group
Group • Results • Fuel Costs • Cash Flow • Share Performance/Dividends/Share Buybacks • Net cash and available borrowing facilities • Current Trading/Outlook th March 2021 Irish Continental Group 2020 Results Presentation – 11th 17 17
Slide 18: Group - Results
Group - Results FY 2020 FY 2019 Change Revenue €277.1m €357.4m -22.5% Operating Costs (exc. Dep) €235.0m €270.6m -13.2% EBITDA €42.1m €86.8m -51.5% Non-trading items €(11.2)m €14.9m Operating (Loss) / Profit €(10.4)m €64.9m Basic EPS (10.2)c 31.7c Adjusted EPS (4.3)c 23.7c Dividend Per Share - 8.99c
Slide 19: Group - Fuel Costs
Group - Fuel Costs FY 2020 FY 2019 Change Consumption (000 tons) Heavy Fuel Oil 84.3 88.3 -4.5% Marine Diesel 23.0 31.7 -27.4% 107.3 120.0 -10.6% Average Price (€ per ton) Heavy Fuel Oil €280 €363 -23.0% Marine Diesel €365 €523 -30.2% Brent Crude (guide) $43/€38 $64/€57 -33%/-33% Total Cost (inc. lu
Slide 20: Group - Cash Flow
Group - Cash Flow FY 2020 €m FY 2019 €m EBITDA 42.1 86.8 Working capital movement 10.6 2.0 Pension payments (1.1) (1.3) Other (0.4) 2.0 Cash generated from operations 51.2 89.5 Interest paid (3.7) (3.5) Tax (1.4) (1.2) Purchases of property, plant and equipment & intangible asset before strategic ca
Slide 21: 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 16.1% 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 2010 Nil 10.0c 1
Slide 22: 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 - 150.4 150.4 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% 71.3 - 7
Slide 23: Group - Current Trading/ Outlook
Group - Current Trading/ Outlook General • Covid-19 continues to materially impact on our passenger business. • Any recovery in passenger traffic is unlikely while Government travel restrictions remain in place. We remain hopeful that the rollout of vaccinations will result in a return to internatio
Slide 24: Appendix Fleet
Appendix Fleet Irish Continental Group 2020 Results Presentation – 11th March 2021 24
Slide 25: Appendix – Fleet
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 2020 Results Presentation – 11th March 2021 25
Slide 26: Appendix – Fleet
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 Rosslare/ Pembroke Irish Continental Group 2020 Results Presentation – 11th March 2021 26
Slide 27: Appendix – Fleet
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 2020 Results Presentation – 11th March 2021 27
Slide 28: Appendix – Fleet
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 2020 Results Presentation – 11th March 2021 28
Slide 29: 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 2020 Results Presentation – 11th Ma
Slide 30: 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 2020 Results Presentation
Slide 31: 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 2020 Results Presentation – 11
Slide 32: 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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