INTERIM MANAGEMENT STATEMENT
Key Points
 Q3 Q3 9 months to 30 September
 2010 2009 2010 2009
 €m €m €m €m
Turnover 81.2 80.6 203.6 200.4
EBITDA 25.0 22.9 Â 45.0 Â 41.7
Operating Profit 19.0 17.0 Â 27.8 Â 24.1
Interim Management Statement
Irish Continental Group plc (ICG) issues its second Interim Management Statement
for 2010 which covers the period from 1 July 2010.
It should be noted that ICG's business is seasonally weighted towards the second
half of the year (and particularly the third quarter) where normally a higher
proportion of the Group's operating profit is generated than in the first six
months.
In the three months to 30 September, the Group recorded a 9% increase in EBITDA
to €25.0m and a 12% increase in operating profit to €19.0m on turnover of €81.2m
(2009 €80.6m).
Volumes July - October
In the ferries division, the trends outlined in our half yearly report continued
in the period from July to October with higher passenger numbers (up 5.9%), and
better yields but continued weakness in RoRo freight (down 10.1% in the 4
months). Container freight volumes for the same period were down 2.4% as we
declined some flows of business at uneconomic rates, while units lifted at our
ports were down 3%.
Year to Date Volumes
In the year to date (ten months to 31 October 2010), passengers carried were up
8.9% at 1,377,000, while car numbers were down 1.0% at 326,300. RoRo freight
volumes in the same period were down 10.4% on last year at 148,300 units.
Container freight volumes were 4.1% higher than the previous year at 343,500
teu, while units handled at our port terminals were up by 1.6% at 139,200 lifts.
Cumulative Financial Results to 30 September (unaudited)
Group revenue for the nine months to 30(th) September 2010 was €203.6 million
(2009: €200.4 million, restated). Revenue in the Ferries division was up 4% in
the nine months, while in the Container & Terminal division cumulative revenue
was down 2%. EBITDA for the nine months was €45.0 million (2009: €41.7 million),
while operating profit for the nine months was €27.8 million compared with €24.1
million in the same period in 2009, an increase of 15.4%.
Financial Position
Net debt at 30 September 2010, was €13.8 million, down from €26.9 million at 30
June 2010.
Outlook
The economic backdrop remains challenging. The impact of the impending
adjustments in public finances in both Ireland and the UK is uncertain both with
regard to tourism and freight demand. Nevertheless, we have carefully managed
our cost base and our operational capacity to continue to be able to compete
profitably in this environment.
18 Nov 2010
[HUG#1463573]
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Source: Irish Continental Group plc via Thomson Reuters ONE
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