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GreeceBusinessAttica Group reports 52% revenue increase in 2022

Attica Group reports 52% revenue increase in 2022

Hellenic News of America
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Attica Group reported unified sales of 530.24 million euros in 2022, a revenue increase of 52% over 347.92 million euros in 2021, it said on Thursday.

Consolidated EBITDA amounted to 57.75 million euros in 2022, a rise of 38% against 41.96 million in 2021. Net income after taxes were 17.05 million euros compared to net losses of 13.19 million for fiscal year 2021. It said that increased sales were a result of a rise in bookings in all categories of revenues, helped additionally by the state’s lifting of the reduced allowable number of passengers due to Covid-19 protocols since mid-March 2022, the rise of ship sailings by 28.6%, and the rise in ticket prices following the huge rise in fuel prices.

Increased sales allowed the Group to cover its higher operational costs, particularly due to the higher fuel costs during the energy crisis. Group cash amounted to 87.87 million euros on December 31, 2022 over 97.36 million on December 31, 2021.

Tangible fixed assets for the Group came to 688.04 million euros over 673.84 million on December 31, 2021, and relate mostly to the value of privately owned ships in the Group. Net borrowing amounted to 497.70 million euros over 481.59 million on December 31, 2021.

Attica Group announced On March 29, 2023 it would buy the RoRo ferry ‘Clementine’ from CldN Ferries NV for 13.4 million euros in cash. The ship is expected to be delivered in the summer of 2023. As part of its strategic planning to expand activities, it bought the Naxos Resort Beach Hotel in Agios Georgios of the island of Naxos in 2021 and in 2022 bought the Tinos Beach hotel in Kionia, on Tinos island.

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On September 21, 2022 Attica Group announced it had reached an agreement with its creditors and shareholders (57.70% of all shares) to absorb ANEK lines. A related shares agreement for the merging through absorption was signed on September 23, 2022, and is dependent on conditions and approvals by relevant Group authorities as well as the Competition Commission.

SOURCE; ANA-MPA

The copyrights for these articles are owned by the Hellenic News of America. They may not be redistributed without the permission of the owner. The opinions expressed by our authors do not necessarily reflect the opinions of the Hellenic News of America and its representatives.

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