Irish Continental Group Plc · EURONEXT:IR5B
Irish Continental — FY2021 Earnings Presentation
39 slides from Irish Continental's earnings presentation, Mar 10, 2022
Slide 1: 2021 Results Presentation
2021 Results Presentation 10th March 2022
Slide 2: Full Year 2021 Performance Summary
Full Year 2021 Performance Summary Revenue • Revenue for the year increased by 20.7% to €334.5 million (2020: €277.1 €334.5m million). In the Ferries division revenue* increased by 24.1% to €175.5 million (2020: €141.4 million) while in the Container and Terminal division revenue* increased by 18.8%
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 operator between Ireland and the Britain, Continental Europe and the Continent. Dublin Ferryport Terminals Republic of Ireland. The divis
Slide 4: Ferries Division
Ferries Division Irish Continental Group 2021 Results Presentation – 10th March 2022
Slide 5: Ferries Division
Ferries Division Weekly Sailings 2021 2020 Dublin - Holyhead Ulysses 28 28 Dublin Swift 281 282 Epsilon / W.B. Yeats 20 26/28 76 82/84 Rosslare - Pembroke Isle of Inishmore - 28 Blue Star 1 28 - Total Ireland - UK 104 110/112 Ireland - France Epsilon / W.B. Yeats 83 6/7 Total Irish Sea 112 116/119 D
Slide 6: Ferries Division
Ferries Division Brand: Irish Ferries Sailings 2021 Owned: - 4 cruise ferries 9% Holyhead: 2,600 - 1 ropax ferry Sailings - 1 fast ferry 32% Pembroke: 1,400 - 7 container ships Sailings 59% France: 400 Charter in: - 1 cruise ferry Sailings 1 ropax ferry Dover – Calais Service Strategic routes The la
Slide 7: Ferries Division
Ferries Division Car Market CAGR (Volumes, excl. Dover - Calais) YTD H2 H1 1 Year 3 Years 5 Years 10 Years 27 Years 5th March 2021 2021 2021 2016 - 2014 - 2009 - 1992 - 2019* 2019* 2019* 2019* Irish Ferries +163% +64% -47% 19% -1 % +1% +1% +2% Republic of Ireland +76% -45% 26% -1% 0% -1% +1% All Ire
Slide 8: Ferries Division
Ferries Division Car Market CAGR (Volumes, Dover - Calais) H2 H1 1 Year 3 Years 5 Years 10 Years 2021 2021 2021 2016 - 2014 - 2009 - 2019* 2019* 2019* Dover Straits Total -17% -62% -36% -2% +1% +3% Dover Ferries -16% -76% -44% -3% 0% 0% Eurotunnel -18% -54% -32% -1% +2% +8% *Cumulative growth is sho
Slide 9: Ferries Division
Ferries Division RoRo Market Jan ’22 Ytd Jan ’22 Jan ‘22 V ’21 V ‘19 Legacy Routes Irish Ferries +27% 28% (12%) Republic of Ireland 31% (15%) All Ireland 17% (8%) Dover Straits Dover Straits Total 32% (20%) Dover Ferries 28% (18%) Total IF incl Dover +145% 131% - Irish Continental Group 2021 Results
Slide 10: Ferries Division
Ferries Division Cars Market Jan ‘22 Ytd Jan ’22 Jan ‘22 V ‘21 V ‘19 Legacy Routes Irish Ferries 163% 86% (48%) Republic of Ireland 127% (33%) All Ireland 116% (4%) Dover Straits Dover Straits Total 53% (63%) Dover Ferries 91% (73%) Total IF incl Dover +392% +260% Irish Continental Group 2021 Result
Slide 11: Ferries Division - Ship Chartering activities
Ferries Division -Ship Chartering activities Ship Chartering Revenue FY 2021 FY 2020 €m €m External 8.1 5.9 Internal 12.6 8.6 Total 20.7 14.5 • External charter revenues increased by €2.2m due to the purchase of a container vessel which was chartered to a third party as well as the impact of higher
Slide 12: Ferries Division
Ferries Division FY FY Change 2021 2020 €m €m Revenue* 175.5 141.4 +24.1% Operating Costs (152.3) (119.1) +27.9% EBITDA 23.2 22.3 +4.0% Non-trading item - (11.2) +100.0% Depreciation/Amortisation (40.6) (34.6) +17.3% Operating Loss (17.4) (23.5) +26.0% • Passenger, car and on-board revenue up 75.1%
Slide 13: Container and Terminal Division
Container and Terminal Division Irish Continental Group 2021 Results Presentation – 10th March 2022
Slide 14: Container & Terminal Division
Container & Terminal Division • 6 chartered vessels • 4,500 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 15: Container & Terminal Division
Container & Terminal Division Irish Continental Group 2021 Results Presentation – 10th March 2022 15
Slide 16: Container & Terminal Division
Container & Terminal Division • 150 year lease in Dublin from 1972 • 203,900 lifts in 2021 (2020: 177,100 lifts) • Current Design Capacity of 220,000 lifts • Container Depot DFCD moved to Inland Port in January 2022 • Capex Project €15m (2022/23) including the order of 5 new Electric Environmentally
Slide 17: Container & Terminal Division
Container & Terminal Division • Concession from Belfast Harbour Commissioners (BHC) extended for 6 years to 2026 (option with BHC to extend for a further 3 years) • 131,600 lifts in 2021 (2020: 115,300) • £40 million investment programme being undertaken by BHC in 2019 is ongoing • Design Capacity o
Slide 18: Container & Terminal Division - Container Handling Ireland
Container & Terminal Division - Container Handling Ireland CAGR (Volumes) 1 Year 3 Year 5 Year 2021 2018-21 2016-21 ICG 15% 4% 4% All Ireland 12% 5% 4% Irish Continental Group 2021 Results Presentation – 10th March 2022 18
Slide 19: Container & Terminal Division
Container & Terminal Division FY 2021 FY 2020 Change €m €m Revenue* 174.0 146.5 +18.8% Operating Costs (144.9) (126.7) +14.4% EBITDA 29.1 19.8 +47.0% Depreciation/Amortisation (11.9) (6.7) +77.6% Operating Profit 17.2 13.1 +31.3% • Container volumes up 9.6% at 346,600 teu. • Terminal volumes up 14.7
Slide 20: 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 Results Presentation – 10th March 2022
Slide 21: Group - Results
Group - Results FY 2021 FY 2020 Change Revenue €334.5m €277.1m +20.7% Operating Costs (exc. Dep) €(282.2)m €(235.0)m +20.1% EBITDA €52.3m €42.1m +24.2% Non-trading items - €(11.2)m Operating Loss €(0.2)m €(10.4)m Basic EPS (2.6)c (10.2)c Adjusted EPS (2.7)c (4.3)c Dividend Per Share - - Net (Debt) /
Slide 22: Group - Fuel Costs
Group - Fuel Costs FY 2021 FY 2020 Change Consumption (000 tons) Heavy Fuel Oil 99.5 84.3 +18.0% Marine Diesel 29.9 23.0 +30.0% 129.4 107.3 +20.6% Average Price (€ per ton) Heavy Fuel Oil €392 €280 +40.2% Marine Diesel €488 €365 +33.8% Brent Crude (guide) $71/€60 $43/€38 +65.1%/+57.9% Total Cost (in
Slide 23: Group - Cash Flow
Group - Cash Flow FY 2021 €m FY 2020 €m EBITDA 52.3 42.1 Working capital movement 11.7 10.6 Pension service costs less payments 0.6 (1.1) Other 1.4 (0.4) Cash generated from operations 66.0 51.2 Interest paid (8.4) (3.7) Tax (0.8) (1.4) Purchases of property, plant and equipment & intangible assets
Slide 24: 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 31/12/21 - 15.6% Cash Returned to Shareholders 2008 - 2021 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 25: 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 - 38.5 38.5 Committed lending facilities: Bank overdrafts Annually Variable 15.4 15.4 - Revolving credit Up to 2024 Variable 75.0 65.0 10.0 EIB Amortising Loan #1 2030 1.724% 67.5 -
Slide 26: Group - Current Trading/Outlook
Group - Current Trading/ Outlook General • 2022 has seen the gradual lifting of almost all Covid-19 travel restrictions. The level of restrictions over the peak summer period will be key to the level of return in the passenger market. • The start to the year has been encouraging, with an increase in
Slide 27: Appendix Fleet
Appendix Fleet Irish Continental Group 2021 Results Presentation – 10th March 2022
Slide 28: 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 2021 Results Presentation – 10th March 2022 28
Slide 29: 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 Dover / Calais Irish Continental Group 2021 Results Presentation – 10th March 2022 29
Slide 30: 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 2021 Results Presentation – 10th March 2022 30
Slide 31: 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 2021 Results Presentation – 10th March 2022 31
Slide 32: Appendix – Fleet
Appendix – Fleet Isle of Innisfree Year Built 1992 GT 28,833 tons PAX 1,140 Cars (Max) 600 Lane Meters 2,365 Speed 21.0k Route Dover - Calais Isle of Inisheer Year Built 2000 GT 25,152 tons PAX (Max) 589 Cars (Max) 500 Lane Meters 1,950 Speed 22.5k Route Dover - Calais Irish Continental Group 2021 R
Slide 33: 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 34: 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 Results Presentation – 10th Ma
Slide 35: 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 Results Presentation
Slide 36: 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 Results Presentation – 10
Slide 37: Appendix – Fleet
Appendix – Fleet CT Daniel IMO 9326988 Built 2006 LOA 134.44 Breadth 22.5 GT 9,990 Dead Weight 11,190 Size TEU 868 TEU @ 14tns 595 Irish Continental Group 2021 Results Presentation – 10th March 2022 37
Slide 38: 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 MS Mirror IMO 9328041 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 Results Prese
Slide 39: 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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