ΜΙΝΟΑΝ
Increase by 10.8% in revenue- Increase of traffic volumes in the North Adriatic Market
NOV, 28.2008
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Minoan Lines for the 9-month period of 2008 announced an increase of 10,8% on its revenue at EUR 172.4m, in comparison with the respective period of 2007, derived mainly from the increase in traffic volumes in the market of North Adriatic.
The operating profitability (EBITDA), despite the enormous and continuous increase in fuel prices (+56%) shaped at EUR 33.6m (the fuel cost stood at EUR 63m increased by EUR 22.8m). The net results after taxes stood at EUR 4.4m and they have been negatively affected by the extraordinary financial expenses amounted to EUR 1.1m derived from the non-depreciated loan restructuring costs of loan facilities that have been fully repaid the current fiscal year.
The group’s turnover during the 9-month period of 2008 reached EUR 172.5 m and the operating profits (ΕBITDA) was shaped at EUR 33.4m. The group’s net results stood at EUR 7.6m. The differentiation recorded and noted in the net results of the Group in comparison with the ones of the parent company, are due to the result of the affiliated company Hellenic Seaways, net results of which stood at EUR 16.5m.
TRAFFIC VOLUMES
In the North Adriatic route (Ancona & Venice international routes), Minoan Lines improved its position in the market and succeeded the highest market shares in passengers and cars among the companies that operate in this market. More specifically, the market shares stood at 38%, 40.2% and 33% for passengers, cars and trucks respectively. During the 9 months of 2008 Minoan lines carried 523,000 passengers, 138,000 cars and 73,000 trucks.
In the Heraklion – Piraeus route, Minoan Lines maintained its leading position while the market shares, with the company having realized a total amount of 45.9% number of trips, reached 68.8% for passengers, 60.9% for cars and 48.2% for trucks. Moreover, the company carried 887,000 passengers, 122,000 cars and 57.000 trucks.
