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Irish Ferries owner estimates sector shortfall in post-Covid car carryings

Overall car carryings on routes operated by Irish Ferries remained almost 24% behind pre-pandemic 2019 levels last year.

The total handled by ferry companies on routes from Ireland to the UK and France and between Dover and Calais was estimated by parent company Irish Continental Group to have risen by 147% year-on-year to 4.1 million.

“While encouraging, this level of car carryings is still 23.9% behind 2019 levels,” the company said.

Within this, Irish Ferries handled 573,400 cars, a rise of 181% over 2021.

The firm’s ferries division saw earnings [ebitda] grow to €95.7 million from €23.2 million year-on-year. 

Irish Continental said: “The increase in carryings versus 2021 levels is primarily due to the lifting of Covid-19 travel restrictions and the expansion to a three ship service on the Dover–Calais route.

“The total sea passenger market (i.e. comprising car, coach and foot passengers on the Republic of Ireland to UK/France and the Dover Straits) increased by 95.5% on 2021 to a total of 16.6 million passengers. 

“Irish Ferries’ passenger numbers carried increased by 246.7% at 2,315,000.”

The market estimate and company carryings were disclosed as Irish Continental reported a return to the black in 2022 with an operating profit of €66.7 million against a loss of €200,000 the previous year as revenue increased by 75% to €585 million.

Increased revenues at Irish Ferries was offset by an increase in costs, driven primarily by higher fuel prices and increased activity.

Irish Continental chairman John McGuckian said: “2022 has been a year not just of recovery but of building for long-term growth. 

“With the Covid-19 pandemic now behind us, we have turned our full attention to maximising the opportunities that have arisen for the group over the last two years. 

“We come out of the pandemic with operations larger than we had at its commencement, and with a balance sheet that remains strong. 

“2022 saw the completion of our planned fleet investment for the Dover–Calais route. The entry to this route has been a long-term objective for the group and the expansion to a three ship operation during 2022 allows us to compete effectively on this route. 

“While there is some uncertainty around economic growth rates, we look forward to continued growth during 2023 through the leveraging of our recent investments and the continued support of all customers.”

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