Confidential
Capital Markets Day
February 2025
Agenda
# | Section | Duration | Presenter | |||||||
1 | Introduction to Attica Group | |||||||||
Kyriakos Magiras | ||||||||||
1A | Attica at a glance | 13:30 - 13:50 GMT | ||||||||
1B | Key segments overview | 13:50 - 14:00 GMT | Panagiotis Dikaios | |||||||
2 | Macro overview and growth drivers | 14:00 - 14:10 GMT | Panagiotis Dikaios | |||||||
3 | Market and competitive landscape overview | 14:10 - 14:30 GMT | Panagiotis Dikaios | |||||||
4 | Historical financials | 14:30 - 14:50 GMT | George Nikolakopoulos | |||||||
5 | Business strategy & guidance | 14:50 - 15:20 GMT | Kyriakos Magiras / Panagiotis Dikaios | |||||||
6 | ESG overview | 15:20 - 15:30 GMT | Panagiotis Dikaios | |||||||
Q&A | 15:30 - 15:45 GMT | |||||||||
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Today's presenters
Kyriakos Magiras
Executive Chairman
With Attica since 2012
- Attica Group Executive Chairman since 2013
- >35 years of experience in shipping, investment banking and corporate finance
- Previously, CEO of the Investment Bank of Greece
Panagiotis Dikaios
Chief Executive Officer
With Attica since 2012
- Attica Group CEO since 2023
- Attica Group CFO 2013-2024
- >20 years of experience in shipping and investment banking
- Previously served for 5 years at Investment Bank of Greece as Shipping Manager
George Nikolakopoulos
Chief Financial Officer
With Attica since 2024
- >20 years of experience in accounting and corporate finance, with several senior roles at DoValue Greece, Eurobank and Grant Thornton
- Appointed Attica Group CFO in 2024
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Translations.SectionN Section 1A
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Section 1A
Attica at a glance
Attica at a glance
Attica Group at a glance
Leading ferry owner and operator
Backbone of Greek infrastructure and tourism
Sizeable fleet
Worldwide newbuilding experience
Highly experienced management
#1 in Greece | Largest passenger shipping group in Greece in terms of passenger capacity1 | |
#1 worldwide | Largest worldwide passenger shipping operator of conventional Ro-Pax vessels in | |
terms of passenger capacity1 | ||
>60 destinations | 25+ years of Group's continuous presence in the Eastern Mediterranean Sea | |
Floating bridge between the mainland and the islands, playing an important role on | ||
72 ports | the development of islands' infrastructure | |
| >60 destinations, connecting 72 ports in Greece and Italy | |
- Well maintained fleet of 43 vessels2, with 2 additional state-of-the-art
vessels ordered
43 vessels2 Track-record of organic and inorganic fleet expansion with HSW and Anek transactions
4 well established and recognisable brands
- Significant experience in design and overview of construction of newbuild vessels
32 vessels designed | with a track record of designing 32 vessels, maximising operational and |
financial efficiencies | |
c.€2bn invested3 | Total invested capital of c.€2bn3 over 25+ years |
>10 years | Highly experienced top management team, steering the company through significant |
growth and transformational M&A transactions | |
Sources: Company information, Shippax
Notes:
- According to Shippax data as of April 2024
- Including Thunder vessel, now renamed to HighSpeed 3, acquired in September 2024
- Total invested capital does not include Superfast E-Flexer I and II as vessels are due to be delivered in 2027
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Attica Group-key figures
Operating and traffic metrics
7.4m passengers in 2023 on a combined basis1
1.3m private vehicles in 2023 on a combined basis1
0.5m freight units in 2023 on a combined basis1
3 hotels owned on islands where the Group's vessels operate
Key financial figures 2023 PF2
€761m€137m
RevenueEBITDA3
€49m | €848m |
Net income | Vessels net book value |
Source: Company information
Notes:
- On a combined basis with ANEK
- Pro-Formadata for FY 2023 assuming that the merger with ANEK took place on 1.1.2023 and the gain on the transaction remained as at 4.12.2023
- Computed as profit / (loss) before taxes, financing and investment activities plus depreciation and amortisation
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The leading global ferry owner and operator
Attica is the largest passenger shipping company globally1
Fleet passenger capacities | Fleet freight lane metres capacities2 |
#1 | 1. | 47,473 | |
2. GNV | 44,158 | ||
3. Grimaldi Group | 42,457 | ||
4. Onorato Amatori S.p.A | 39,515 | ||
5. Washington State Ferries | 39,230 | ||
6. Stena Line | 27,065 | ||
7. BC Ferries | 26,327 | ||
8. Jadrolinija | 25,635 | ||
9. Tallink Grupp | 25,151 | ||
10. Corsica Ferries | 24,300 | ||
11. Fjord1 | 20,249 | ||
12. Bohai Ferry | 19,531 | ||
13. DFDS | 18,654 | ||
14. Balearia | 17,263 | ||
15. Instanbul Denize | 16,562 | ||
16. Torghatten Group | 15,969 | ||
17. Brittany Ferries | 14,313 | ||
18. Viking Line | 13,080 | ||
19. Armas Transmediterranea | 12,918 | ||
20. Color Line | 11,713 | ||
1. Grimaldi Group | 92,022 | ||
2. Stena Line | 73,552 | ||
3. GNV | 46,051 | ||
4. | |||
39,443 | |||
5. DFDS | 36,031 | ||
6.Onorato Amatori S.p.A | 28,180 | ||
7. Balearia | 26,138 | ||
8. Bohai Ferry | 24,948 | ||
9. P&O Ferries | 20,904 | ||
10. Brittany Ferries | 19,324 | ||
11. TT-Line | 18,002 | ||
12. Corsica Linea | 17,138 | ||
13. City Line | 15,371 | ||
14. Irish Ferries | 14,676 | ||
15. Armas Transmediterranea | 14,339 | ||
16. Shin Nihonkai Ferry | 13,788 | ||
17. Corsica Ferries | 11,791 | ||
18. BC Ferries | 11,333 | ||
19. Tallink Grupp | 11,178 | ||
20. China Shipping Passenger | 10,314 | ||
Source: Shippax as of April 2024
Notes:
- Based on passenger capacity
- Lane meters is the measure of garage capacity on a vessel
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Leader in the markets where we operate
Attica is a leading operator in the Greek and Adriatic markets, showcasing the largest fleet and capacity
Number of vessels
50 | ||||
45 | 43 1 | |||
Operating only | ||||
40 | seasonally | |||
35 | ||||
30 | 29 | |||
25 | ||||
20 | ||||
15 | ||||
10 | 8 | 5 | ||
3 | ||||
5 | ||||
0 | Peer 1 | Peer 2 | Peer 3 | Peer 4 |
#1 |
Commentary
- Largest fleet in the Aegean and Adriatic seas by number of vessels
- Operating on a full-year basis vs. other players operating mostly only seasonally
- Other players operate smaller vessels and hence have lower passenger capacities
Sources: Company information, companies' websites
Notes: Based on publicly available data on shipping companies and vessels operated in the Greek and Adriatic markets 1. Including Thunder vessel, now renamed to Highspeed 3, acquired in September 2024
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Overview of fleet
A diversified, versatile and well-maintained fleet offering sizeable passenger, freight and vehicle capacity
Vessel type | Key figures | |
Vessels | Pax capacity | Garage capacity | |
(#) | (#) | (lane meters) | |
Conventional Ro-Pax | 28 | 45,412 | 41,881 |
Ro-Ro | 2 | 24 | 4,075 |
High speed1
13 5,118 521
Total | 43 | 50,554 | 46,477 | |
Source: Company information Notes:
1. Includes high-speed craft vessels and hydrofoils
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Attica's milestones-strong track record of organic and inorganic growth as well as market consolidation…
1992 - Change of ownership and renaming to Attica
Enterprises S.A., subsequently changed to Attica Enterprises Holding S.A.
1993 - Establishment of
Superfast Ferries
Maritime S.A.
1995 - Delivery and deployment of Superfast I and Superfast II in the Patra - Ancona service
revolutionising ferry travel in the Adriatic Sea with high-speed vessels
2001 - Entrance in Baltic sea market connecting Germany and Finland. Sailing time reduced to 22h from 32-34h
2002 - Launch of the North Sea route between Scotland and Belgium
2018 - Acquisition of Hellenic Seaways
2021 - Establishment of "Attica Blue Hospitality" with activities in the hospitality industry and acquisition of
Naxos Beach Resort Hotel
2024 - Agreement with Stena RoRo for the long-term charter (with purchase option) of two new vessels and a potential option for two additional vessels
2024 - Sale of 49% stake in Africa Morocco Links and of the two vessels Morocco Star and Highspeed 3
1992 - 1993
1998 1999
1995
2008 | 2011 - 2014 | 2016 | 2022 | |
2001 - 2002 | 2018 - 2019 | 2021 |
2023
2024 2025
1999 - Acquisition of Strintzis | |||
1998 - Launch of Patra - | Lines Shipping S.A. Rebranded | ||
to Blue Star Ferries | |||
Igoumenitsa - Bari route | |||
✓ Excellent brand recognition |
2008 - Exit from the Baltic | 2011 - 2014 - Operational | |
and North Sea market | and debt restructuring | |
2012 | 2019 |
2016 - Establishment of Africa Morocco Links (with a 49% stake) and entrance in the West Mediterranean Market
2023
2023 - Completion of the merger with ANEK LINES S.A.
Benefits | ✓ | Corporate culture focused on |
from long | operational excellence & | |
operating | ✓ | innovation |
history | Adaptability to international | |
market conditions | ||
Fleet size | 13 | 12 | 30 |
Revenue (€m) | 256 | Increase driven | 405 |
by the | |||
acquisition of | |||
EBITDA (€M) | 9 | HSW | 78 |
30 | 33 | 43 | 45 | 45 |
Increase driven by the | 7611 | Including 2 E-Flexer vessels | ||
merger with ANEK | ||||
ordered | ||||
1371
Source: Company information Note:
1. Pro-Forma data for FY 2023 assuming that the merger took place on 1.1.2023 and the gain on the transaction remained as at 4.12.2023
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