Superfast Group Continues to Increase Revenue

Attica Holdings, the holding company for Superfast Ferries, announced last month that its financial results for the nine months to 30th September, 2005, show turnover of 306.5 million euros and earnings before interest and depreciation 89.7 million euros, both up slightly compared with the same period last year.

Consolidated results for the nine months show a net profit after minority interests of 32.3 million euros, which is 4.8 million less than the year before period.

These results are derived from the operation of eight Superfast ferries, two RoRo vessels and eight Blue Star vessels.  The results, said the company, were achieved despite the very high cost of fuel which affected significantly the fleet’s operating expenses.

The financial results for the nine months are reported under International Financial Reporting Standards and show total net equity, including minority rights, of 496.7 million euros, cash and equivalents at 101.5 million euros and fixed assets at 2.2 million euros.

The group’s results include net financials of 20 million euros against 25 million euros and depreciation charges of 28.1 million euros against 28.9 million in the same period of 2004, as well as extraordinary income of 1.3 million euros against 6.8 million from the sale of vessels Superfast I, Blue Bridge and Blue Sky in the same nine months of 2004.

The Group’s fleet operates in the Greece-Italy, Germany-Finland, Scotland-Belgium and Greek domestic market routes.

In the Greece-Italy routes in the Adriatic Sea, Superfast Ferries carried 451,410 passengers (6% increase), 75,752 freight units (17% decrease) and 90,860 private vehicles (13% increase) and maintained its leading position in the transportation of passengers and freight units with corresponding market shares of 24.3% in passengers, and 23.3% in freight units on the total passengers and freight units carried on the Adriatic Sea routes.

During the nine months to 30th September, 2005, Attica Group acquired a 11.61% stake in Minoan Lines Shipping S.A. and a 12.33% stake in Hellenic Seaways S.A.