Ferry Operator ANEK Sees Turnover Growth H1 2018

Passenger ferry operator ANEK Lines said that the group had posted improved turnover in the first half of 2018 at 72.9 million euros compared to 65.3 million euros in the corresponding period in 2017.

Parent company revenue came to 66.9 million euros against 58 million euros in the same period last year.

The Crete-based operator attributed the positive performance to “more efficient ship and route management, and to passenger traffic growth”.

ANEK said it had slashed its Adriatic (Ancona, Venice), Crete (Chania, Heraklion), Dodecanese and Cycladic routes in H1 2018 by 15 percent compared to the same period in 2017 serving a total of 368,000 passengers against 356,000 in the same period in 2017.

Consolidated gross results in H1 came to 8.4 million euros compared to 0.4 million euros in the first half of 2017, while profits for the company came to 7.2 million euros against losses of 0.4 million euros last year.

Despite the increase in fuel prices, ANEK said the cost of group sales declined slightly to  64.4 million euros from 64.9 million euros, while company sales came to 59.7 million euros from 58.4 million euros.

Pre-tax profit (EBITDA) for the group came to 1.6 million euros compared to losses of 6.3 million euros in 2017, while parent company earnings reached 2.2 million euros against losses of 5.6 million euros in the first half of 2017.

ANEK said in a statement that “the increase in fuel prices and harsher competition conditions” were expected to affect the operating results of the second half of 2018.