TRADING UPDATE
Irish Continental Group plc ("ICG" or "the Group") issues this trading update which covers carryings for the year to date to 2 May 2026 and financial information for the first four months of 2026, i.e. 1 January to 30 April with comparisons against the corresponding period in 2025. All figures are unaudited.
Volumes (Year to date, 2 May 2026)
| 2026 | 2025 | Change vs 2025 | ||
| Cars | 135,200 | 139,200 | (2.9%) | |
| RoRo Freight | 270,900 | 257,600 | +5.2% | |
| Container Freight (teu) | 126,800 | 131,800 | (3.8%) | |
| Terminal Lifts | 125,200 | 122,500 | +2.2% |
Volumes (Since last update, 1 March to 2 May 2026)
| 2026 | 2025 | Change vs 2025 | ||
| Cars | 85,000 | 89,900 | (5.5%) | |
| RoRo Freight | 146,200 | 145,400 | +0.6% | |
| Container Freight (teu) | 66,200 | 68,000 | (2.6%) | |
| Terminal Lifts | 66,300 | 65,200 | +1.7% |
Recent geopolitical developments in the Middle East have resulted in increased fuel prices, which can only be negative for everyone living on an island off Northwest Europe. Apart from the obvious increased cost of getting on and off the Island, there are secondary impacts on inflation, interest rates and the general cost of living. While the Group's consistent policy is not to financially hedge fuel prices, we do have a well-established mechanism for applying fuel surcharges on all freight movements on a monthly lagged basis.
The strength of the Group's diversified business model and balance sheet continues to position us well to respond to changing market conditions and to capitalise on selective opportunities as they arise. The Group has remained disciplined in deploying capital and continues to evaluate opportunities to enhance its fleet and service offering on attractive terms. Recent investments, including vessel acquisitions, support the Group's long-term growth strategy and enhance capacity across key routes.
Consolidated Group revenue in the period was €215.9 million (2025: €189.5 million), an increase of 13.9% compared with last year. The 100% application of the European Emissions Trading System (ETS) for 2026 and increased fuel surcharges have contributed to this increase.
For banking covenant purposes, pre-IFRS 16 net debt figures were €128.9 million compared to €133.5 million at 31 December 2025. On an IFRS basis to include lease obligations, net debt figures were €255.8 million compared to €256.1 million at 31 December 2025.
Ferries Division
Total revenues recorded in the period to 30 April amounted to €138.6 million (2025: €118.8 million) (including intra-division charter income), which was a 16.7% increase on the prior year.
For the year to 2 May, Irish Ferries carried 135,200 cars (2025: 139,200 cars), a decrease of 2.9% on the previous year. Freight carryings were 270,900 RoRo units (2025: 257,600 units), an increase of 5.2% compared with 2025.
The beginning of 2026 has seen volume growth in the Group's freight business, alongside softer car volumes. In the prior year, both car and freight volumes were impacted by the temporary closure of Holyhead Port in early January 2025.
Total revenues also include customer surcharges related to fuel movements and the cost of emission allowances under the EU Emission Trading System (ETS).
Container and Terminal Division
Total revenues recorded in the period to 30 April amounted to €87.6 million (2025: €80.9 million), an 8.3% increase on the prior year.
For the year to 2 May, container freight volumes shipped were 126,800 teu (2025: 131,800 teu) a decrease of 3.8% on the previous year. Volumes handled at our terminals in Dublin and Belfast totalled 125,200 units (2025: 122,500 units), an increase of 2.2% year on year.
Total revenues include customer surcharges covering fuel movements, emission costs under ETS and the impact of changes in the costs of chartering container ships.
About Irish Continental Group plc
Irish Continental Group plc is the leading Irish-based maritime transport group. The Group's activities include the transport of passengers, cars and Roll on Roll off (RoRo) freight under the Irish Ferries brand, on routes between each of Ireland, Britain and Continental Europe. The Group also provides Container Lift on Lift off (LoLo) freight services on routes between Ireland and Continental Europe under the Eucon brand. Other activities include the operation of container terminals in the ports of Dublin and Belfast and ship chartering activities. For the year ended 31 December 2025, ICG reported revenue of €666.7 million and EBITDA of €150.6 million.
Dublin.
7 May 2026
Enquiries
Eamonn Rothwell, CEO +353 1 607 5628 info@icg.ie
David Ledwidge, CFO +353 1 607 5628 info@icg.ie
Q4 Public Relations +353 1 475 1444 press@q4pr.ie
