DOCSLIB.ORG

Annual Report 2017

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

2017 Annual Report and Financial Statements Irish Continental Group (ICG) is the leading Irish based maritime transport group. We carry passengers and cars, Roll on Roll off freight and Container Lift on Lift off freight, on routes between Ireland, the United Kingdom and Continental Europe. We also operate container terminals in the ports of Dublin and Belfast. More online www.icg.ie 01 CONTENTS 04-50 Strategic Report 04 The Group 10 Chairman’s Statement 06 Financial Highlights 14 Operating and Financial Review 07 Our Group at a Glance 48 Our Fleet 08 Five Year Summary 50 Executive Management Team 54-85 Corporate Governance 54 The Board 73 Report of the Nomination Committee 56 Report of the Directors 75 Report of the Remuneration Committee 60 Corporate Governance Statement 85 Directors’ Responsibilities Statement 69 Report of the Audit Committee 88-167 Financial Statements 88 Independent Auditor’s Report 102 Company Statement of Financial Position 97 Consolidated Income Statement 103 Company Statement of Changes in Equity 98 Consolidated Statement of Comprehensive 105 Consolidated Statement of Cash Flows Income 106 Company Statement of Cash Flows 99 Consolidated Statement of Financial Position 107 Notes to the Financial Statements 100 Consolidated Statement of Changes in Equity 170-173 Other Information 170 Investor Information 173 Index to the Annual Report 02 Irish Continental Group 2017 Annual Report and Financial Statements 2017 has been a successful year for the Group, with a positive operational and financial performance in both divisions Read more from the Chairman’s Statement on page 10 Strategic Report Corporate Governance Financial Statements Other Information 03 STRATEGIC REPORT* 04 The Group 10 Chairman’s Statement 06 Financial Highlights 14 Operating and Financial Review 07 Our Group at a Glance 48 Our Fleet 08 Five Year Summary 50 Executive Management Team *As an Irish incorporated Group, The Strategic Report does not constitute a Strategic report for the purpose of the UK Companies Act 2006 (Strategic Report and Directors Report) Regulation 2013 and the large and medium –sized Companies and Groups (Accounts and Reports) (amendment) Regulation 2013, and the Remuneration Committee Report does not constitute a Remuneration Report for the purposes of the UK large and medium- sized Companies and Groups (Accounts and Reports) (amendment) Regulations. 04 Irish Continental Group 2017 Annual Report and Financial Statements THE GROUP N M1 M2 M50 M50 M3 Irish Continental Group (ICG) is the leading Irish-based M50 Dublin Port maritime transport group. We carry passengers and cars, Roll M4 M50 M50 Holyhead on Roll off (RoRo) freight and Container Lift on Lift off (LoLo) Roterdam Antwerp Irish Ferries Ropax and Eucon ­eographical freight, on routes between Ireland, the United Kingdom and Cruise ferry Services Coverage Cherbourg Continental Europe. We also operate container terminals M50 Irish Ferries High Speed Eucon Routes M7 Ferry in the ports of Dublin and Belfast. The Group division also Dublin Ferryport Terminals carries out ship chartering activities. Ports Served By Ferries: Dublin, Roslare, Holyhead, Belfast Container Terminal Pembroke, Cherbourg, M50 Rosco M11 Ports Served By Container Ships: Belfast, Dublin, Cork, Antwerp, Rotterdam M50 Estonia Latvia Revenue Operating Prot Ferries Lithuania Division Belfast 19% Dublin 39% Holyhead Modern fleet of multi-purpose ferries and Rosslare 81% LoLo container vessels operating between the Rotterdam 61% U.K Poland Republic of Ireland and Britain and Continental Cork Netherlands Europe, and on charter. Pembroke Antwerp Belgium 1.6 million passengers carried during 2017 on up ermany to 17 daily sailings. Czech Rep. Capital Employed EBITDA Cherbourg Slovakia Key freight positions on short sea routes Rosco between the Republic of Ireland and Britain. Austria 23% 17% France Hungary Romania Inclusive package holidays to the Republic of Switzerland Slovenia Ireland and Britain. Croatia 77% 83% Italy Serbia Bulgaria Container and Terminal Division Ferries Division Container and Terminal Division Container shipping services between Ireland and Continental Europe, operating modern fleet and equipment, together with container terminal operations at Dublin and Belfast Ports. Strategic Report Corporate Governance Financial Statements Other Information 05 N M1 M2 M50 M50 M3 M50 Dublin Port M4 M50 M50 Holyhead Roterdam Antwerp Irish Ferries Ropax and Eucon ­eographical Cruise ferry Services Coverage Cherbourg M50 Irish Ferries High Speed Eucon Routes M7 Ferry Dublin Ferryport Terminals Ports Served By Ferries: Dublin, Roslare, Holyhead, Belfast Container Terminal Pembroke, Cherbourg, M50 Rosco M11 Ports Served By Container Ships: Belfast, Dublin, Cork, Antwerp, Rotterdam M50 Estonia Latvia Revenue Operating Prot Lithuania Belfast 19% Dublin 39% Holyhead Rosslare 81% Rotterdam 61% U.K Poland Cork Pembroke Netherlands Antwerp Belgium ermany Czech Rep. Capital Employed EBITDA Cherbourg Slovakia Rosco Austria 23% 17% France Hungary Switzerland Romania Slovenia Croatia 77% 83% Italy Serbia Bulgaria Ferries Division Container and Terminal Division 06 Irish Continental Group 2017 Annual Report and Financial Statements FINANCIAL HIGHLIGHTS REVENUE €335.1m 2017 €335.1m +3.0% (2016: €325.4m) 2016 €325.4m EBITDA* €81.0m 2017 €81.0m -3.0% (2016: €83.5m) 2016 €83.5m NET CASH / (DEBT)* €39.6m 2017 €39.6m +€77.5m (2016: (€37.9m)) 2016 (€37.9m) BASIC EPS 44.1 cent 2017 44.1 cent +40.4% (2016: 31.4 cent) 2016 31.4 cent ROACE* 39.7% 2017 39.7% up 1.6 percentage points (2016: 38.1%) 2016 38.1% *Definitions of alternative performance measures are set out on page 21. Strategic Report Corporate Governance Financial Statements Other Information 07 OUR GROUP AT A GLANCE Irish Continental Group is a customer focussed business with a pivotal position in the logistics chain facilitating Ireland’s international trade and tourism. Strategic short sea RoRo Reliability underpinned by Strategically located container Connected container shipping routes operated by Irish investment in maintaining terminals which handled services provided by Eucon, Ferries providing a seamless quality assets ensuring 296,800 container units transporting 321,400 teu connection from Ireland to the we meet our customer during 2017 in Ireland’s main (twenty foot equivalent) in UK and Continental motorway expectations, achieving 92% ports of Dublin and Belfast for 2017 between Ireland and 20 network for the 287,500 RoRo schedule integrity over all shipping operators providing countries throughout Europe units carried in 2017. our RoRo services in 2017, services to key continental by sea, road, rail and barge. with 99% schedule integrity hub ports and onwards access achieved on our conventional to global markets. RoRo cruise ferries. Always on, always in touch Fastest crossing on the Irish Key contributor to regional High standard on-board our shipping and terminal sea on board the Irish Ferries tourism in Ireland, Irish Ferries experience enjoyed by our services operate 24/7, assisted Jonathan Swift fastcraft carried 1.65 million passengers Irish Ferries customers by investment in modern service with a sailing time of and 424,000 cars during 2017 encompasses quality food, booking and tracking systems under 2 hours between Dublin with research indicating that beverage, entertainment and to ensure our customers can and Holyhead at speeds of up car tourists stay longer and accommodation services. keep in touch over a variety of to 80 kph. travel outside the main urban Passengers are never out of platforms. centres. touch with free satellite wi-fi services. 08 Irish Continental Group 2017 Annual Report and Financial Statements FIVE YEAR SUMMARY Non Statutory Income Statement Information 2017 2016 2015 2014 2013 €m €m €m €m €m Revenue 335.1 325.4 320.6 290.1 264.7 Other operating expenses and employee benefits expense (254.1) (241.9) (245.1) (239.6) (215.5) Depreciation and amortisation (20.7) (20.9) (18.3) (17.8) (19.2) 60.3 62.6 5 7.2 32.7 30.0 Non-trading items 1 28.7 - - 28.7 - Interest (net) (1.3) (2.2) (3.1) (4.7) (6.3) Profit before taxation 8 7.7 60.4 54.1 56.7 23.7 Taxation (4.4) (1.6) (0.4) (0.7) (0.4) Profit from continuing operations 83.3 58.8 53.7 56.0 23.3 Discontinued operations Profit from discontinued operations - - - - - Non-trading items1: Gain on disposal of discontinued operations - - - - 3.5 Total discontinued operations - - - - 3.5 Profit for the year 83.3 58.8 53.7 56.0 26.8 EBITDA (including trading from discontinued operations) 81.0 83.5 75.5 50.5 49.2 Per share information: €cent €cent €cent €cent €cent Earnings per share -Basic 44.1 31.4 28.9 30.4 14.6 -Adjusted 2 29.0 31.4 29.1 15.5 13.8 Dividend per share 12.160 11.580 11.025 10.500 10.000 Shares in issue excluding treasury shares: m m m m m At year end 189.9 188.3 186.4 184.5 184.0 Average during the year 188.8 1 8 7.5 185.8 184.4 183.7 1. Non-trading items are material non-recurring items that derive from events or transactions that fall outside the ordinary activities of the Group and which individually, or, if of a similar type, in aggregate, are separately disclosed by virtue of their size or incidence. 2. Adjusted earnings exclude pension interest and non-trading items. Strategic Report Corporate Governance Financial Statements Other Information 09 Non Statutory Consolidated Statement 2017 2016 2015 2014 2013 of Financial Position €m €m €m €m €m Property, plant and equipment and intangible assets 250.0 205.1 170.9 154.7 164.3 Retirement benefit surplus 8.1
Recommended publications
  • Implications for Transport Infrastructure Investment

    Implications for Transport Infrastructure Investment

    Irish Academy of Engineering BREXIT Implications for Transport Infrastructure Investment January 2018 02/02A/02.18 Sarajevo Belgrade Podgorica Ploce Pristina Bar Tirana Durres Skopje THE IRISH ACADEMY OF ENGINEERING The Irish Academy of Engineering is an all- island body, concerned with long-term issues where the engineering profession can make a unique contribution to economic, social and technological development. Its members are Irish Engineers of distinction, drawn from a wide range of1. disciplines,THE and IRISH ACADEMY OF membership currently standsENGINEERING at 145. Drawing on the experience and knowledge of The Irish Academy of Engineering is an all- its distinguished members, the Academy works Ireland body, concerned with long-term issues to facilitate communication and dialogue on where the engineering profession can make a engineering-related matters. It regularly publishes unique contribution to economic, social and reports and analyses, some jointly with other technological development. learned and professional bodies. Its members are Irish Engineers of distinction, The Irish Academy of Engineering drawn from a wide range of disciplines, and 22 Clyde Road, Ballsbridge, Dublin 4 membership currently stands at 145. Telephone: +353 1 665 1337 [email protected] Drawing on the experience and knowledge www.iae.ie of its distinguished members, the Academy works to facilitate communication and Taskforce Members dialogue on engineering related matters. It Finn Lyden ( Chairman) regularly publishes reports and analyses, Gerry Duggan some jointly with other learned and Cover Image: Denis Healy professional bodies. Section of European Commission Ten-T Core Transprot Network Tom Leahy Corridors Paddy Purcell The Irish Academy of Engineering Tony Smyth 22 Clyde Road, Ballsbridge, Dublin 4 Telephone: +353 1 665 1337 [email protected] www.iae.ie Policy Advisory - Disclaimer The members of the Taskforce and the contributors participated in extensive discussions in the course of a series of meetings, and submitted comments on a series of draft reports.
  • Annual Integrated Report 2019 Welcome – Tēnā Koutou

    Annual Integrated Report 2019 Welcome – Tēnā Koutou

    F.18A KIWIRAIL’S EVOLUTION ANNUAL INTEGRATED REPORT 2019 WELCOME – TĒNĀ KOUTOU Rail has a long and proud history in reservation and tracking system. Those services contribute to our New Zealand, stretching back more We will also be replacing aging purpose of building a better than 150 years. The financial year to locomotives and wagons and improve New Zealand through stronger 30 June 2019 (FY19) has seen the our major maintenance depots at Hutt connections. Government renew that commitment and Waltham. It will also be used to We do this by putting the customer at to rail, laying the foundations for us to progress the procurement of two new, the centre of everything we do, and our play the role we should in delivering for rail-enabled ferries that will replace workers strive every day to meet their the country. Interislander’s aging Aratere, Kaitaki, needs. In the 2019 Budget, the Government and Kaiarahi ferries. allocated $741 million through Vote Our workforce, spread throughout That outstanding level of investment Transport over the next two years and New Zealand, reflects the nation. It made a further $300 million available is a clear recognition of the value includes men and women from all for regional rail projects through the rail adds to New Zealand’s transport corners of the world, and from diverse Provincial Growth Fund (PGF). system. ethnic backgrounds. There is however still room to improve. The money is being used to address It is a driver of economic development legacy issues to improve reliability and employment, delivered through These are exciting times for rail in and resilience for tracks, signals, our freight network, world-class tourism New Zealand, and we look forward to bridges and tunnels, for new freight services, and the commuter services building a future on the investment that handling equipment and a new freight we enable in Auckland and Wellington.
  • 2017 Results Presentation 8Th March 2018 Full Year 2017 Performance Summary

    2017 Results Presentation 8Th March 2018 Full Year 2017 Performance Summary

    2017 Results Presentation 8th March 2018 Full Year 2017 Performance Summary • Revenue for the year grew 3.0% to €335.1 million (2016: €325.4 million). In the Ferries division revenue* increased Revenue by 0.8% to €204.4 million (2016: €202.7 million) while in the Container and Terminal division revenue* increased €335.1m by 6.5% to €130.7 million (2016: €122.7 million). 2017 2016 +3.0% • EBITDA for the year decreased by 3.0% to €81.0 million (2016: €83.5 million). EBITDA in the Ferries division EBITDA decreased by 4.8% to €67.3 million (2016: €70.7 million). The EBITDA in the Container and Terminal division €81.0m increased by 7.0% to €13.7 million (2016: €12.8 million) 2017 2016 -3.0% • Net cash of €39.6 million at 31 December 2017 (Net debt of €37.9 million in 2016). Net Cash €39.6m • Adjusted EPS decreased by 7.6% to 29.0 cent from 31.4 2017 2016 cent in 2016. • IAS 19 accounting surplus on retirement benefit schemes of €4.7m (31 December 2016 – deficit of €14.5m). Basic EPS 44.1c • Disposal of MV Kaitaki for a total consideration of €45m, 2017 2016 +40.4% giving a gain on disposal (after tax) of €24.9m. *Exclusive of Inter-segment Revenue Irish Continental Group 2017 Results Presentation - 8th March 2018 2 ICG Business Units Ferries Division Container & Terminal Division Irish Ferries, the leading ferry Eucon, the leading container shipping company operating between the operator between Ireland and the UK/Continent and the Republic of Continent.
  • Mv Kaitaki Docking

    Mv Kaitaki Docking

    MV KAITAKI DOCKING Client Thales Australia Pty Ltd / Interislander Ferries Location Garden Island, NSW, Australia Scope • High Pressure water washing • Mechanical descaling • Ultra-High Pressure water blasting • Dry abrasive blasting • Application of protective coatings by spray and roller Asset Preservation & Rehabilitation When Risk Matters ASMD UPGRADE Project Details The MV Kaitaki is a ROPAX ferry built in 1995. As of 2008, MV Kaitaki is the largest ferry providing the Inter-islander service between the North and South Islands of New Zealand having taken its latest name in 2007. KiwiRail, the operator of the Inter-islander ferries, bought the Kaitaki in 2017. Eptec Marine was commissioned by Thales Australia Pty Ltd to undertake the preparation and preservation works for MV Kaitaki for its 2017 Docking. This was a particularly short docking period, with only 16 days to complete a range of works. Eptec completed High Pressure Washing on all external surfaces and conducted surface preparation works to various areas of the ship. A key aspect of this docking was the application of a silicone coating to the underwater hull, to an area size of over 4,830 sqm. Due to such extensive work over a short period, Eptec had assigned a workforce of over 60 employees to this project. We ran day and night shifts to accommodate for the workload and other trades, whilst ensuring the safety of our employees at every avenue. Eptec delivered the project to a satisfied client whilst managing risk at every level. We aim to keep our employees and the environment safe, every day. Contact Details Head Office: 463-467 Harris Street, Ultimo, Sydney Phone: 02 9034 6969 | Fax: 02 9034 6970 | Email: [email protected] | Web: www.eptec.com.au.
  • ANNUAL INTEGRATED REPORT 2017 F.18A

    ANNUAL INTEGRATED REPORT 2017 F.18A

    Reliable. Sustainable. Valuable. ANNUAL INTEGRATED REPORT 2017 F.18a Welcome – Tēnā koe For more than 150 years rail has played a vital role as an enabler of economic growth in New Zealand, evolving and adapting to meet customer needs despite significant geographical challenges and changing trends in trade. In the 1800s engineers designed a rail network that could operate in New Zealand’s uncompromising landscape, implementing wooden infrastructure that ran across swamps, rugged mountains, dense forests and wide rivers, to connect otherwise isolated communities and industries to the market. Much has changed since KiwiRail’s humble beginnings in 1863. Wooden infrastructure has been replaced by more resilient materials and today we look to advanced technological solutions to ensure the safety of the network and our people. To this day KiwiRail’s rail network continues to connect businesses, communities, importers and exporters to the world. As history shows, rail is adept at changing its services to meet the evolving needs of industry. As port flows increase and commuter demands continue to grow, KiwiRail is developing dynamic and innovative solutions to meet New Zealand’s changing transport requirements. 2 | Reliable. Sustainable. Valuable. | KiwiRail Annual Integrated Report 2017 Contents Overview of our business Capitals review Governance review At a glance 4 Main North Line case study 20 The KiwiRail Board 48 Who we are and what we do 6 Financial 22 The KiwiRail Executive Team 50 Tourism case study 25 How we are governed 52 Management
  • Waitohi Picton Ferry Precinct Redevelopment

    Waitohi Picton Ferry Precinct Redevelopment

    PORT MARLBOROUGH NEW ZEALAND LTD & KIWIRAIL HOLDINGS LTD & MARLBOROUGH DISTRICT COUNCIL WAITOHI PICTON FERRY PRECINCT REDEVELOPMENT Summary of Applications 21 December 2020 TABLE OF CONTENTS 1. Introduction ___________________________________________________________ 1 2. Background __________________________________________________________ 2 2.1 History and Background 2 2.2 KiwiRail Objectives 3 2.3 Port Marlborough Objectives 5 3. Description of the Site and Surrounding Area ________________________________ 7 3.1 Overview of the Site 8 3.2 Surrounding Area 9 4. Project Description _____________________________________________________ 11 4.1 Key Outcomes of the Precinct Redevelopment 11 4.2 Ferry Terminal Works 12 4.3 Works within the Coastal Marine Area 13 4.4 Works within the Rail Yard 15 4.5 Works within Roads 16 4.6 Construction Staging of Waitohi Picton Ferry Precinct 16 5. Statutory Context and Requirements_______________________________________ 17 5.1 The COVID-19 Recovery (Fast-track Consenting) Act 2020 17 5.2 Consenting Strategy under the CRA and RMA 18 5.3 Consenting Requirements 19 6. Overview of the Applications _____________________________________________ 19 6.1 Outline Plan of Works 1A – KiwiRail Works within Railway Designation 20 6.2 Outline Plan of Works 1B – MDC Works within Roads 21 6.3 Resource consent 2A – Port Marlborough Terminal Works 22 6.4 Resource Consent 2B – KiwiRail Retaining Wall 23 6.5 Resource Consent 2C – Accessways and Works Over the Waitohi Awa 23 7. Consultation and Community Engagement _________________________________
  • Land Use Planning Assessment

    Land Use Planning Assessment

    CONTROL OF MAJOR ACCIDENT HAZARDS (COMAH) LAND USE PLANNING ASSESSMENT For inspection purposes only. Consent of copyright owner required for any other use. EPA Export 11-08-2020:04:37:10 For inspection purposes only. Consent of copyright owner required for any other use. EPA Export 11-08-2020:04:37:10 COMAH Land Use Planning Assessment of Dublin Port Company’s MP2 Project Prepared for: RPS For inspection purposes only. Consent of copyright owner required for any other use. Ref: 541-19X0055 R1 25 June 2019 Byrne Ó Cléirigh, 30a Westland Square, Pearse Street, Dublin 2, D02 PN76, Ireland. Telephone: + 353 – 1 – 6770733. Facsimile: + 353 – 1 – 6770729. Email: [email protected]. Web: www.boc.ie Directors: LM Ó Cléirigh BE MIE CEng FIEI FIMechE; LP Ó Cléirigh BE MEngSc MBA CEng FIEI FEI; ST Malone BE MIE CEng FIEI; JB FitzPatrick FCA. Registered in Dublin, Ireland No. 237982. EPA Export 11-08-2020:04:37:10 Byrne Ó Cléirigh Consulting i COMAH Land Use Planning Assessment of Dublin Port Company’s MP2 Project DISCLAIMER This report has been prepared by Byrne Ó Cléirigh Limited with all reasonable skill, care and diligence within the terms of the Contract with the Client, incorporating our Terms and Conditions and taking account of the resources devoted to it by agreement with the Client. We disclaim any responsibility to the Client and others in respect of any matters outside the scope of the above. This report is confidential to the Client and we accept no responsibility of whatsoever nature to third parties to whom this report, or any part thereof, is made known.
  • 04POR Irish Ferries , Item 6. PDF 459 KB

    04POR Irish Ferries , Item 6. PDF 459 KB

    Cynulliad Cenedlaethol Cymru / National Assembly for Wales Y Pwyllgor Materion Allanol a Deddfwriaeth Ychwanegol / The External Affairs and Additional Legislation Committee Goblygiadau gadael yr Undeb Ewropeaidd i Borthladdoedd Cymru / The Implications of Brexit for Welsh Ports EAAL(5) 04POR Ymateb gan Irish Ferries / Evidence from Irish Ferries 1. Introduction. Irish Ferries have been invited to provide a written submission to this Committee on the implications of Brexit for ports in Wales and in that context, to respond to two key questions, which are; - What risks and opportunities does Brexit present for Welsh ports? - What steps should be taken, and by whom, to mitigate any risks and secure any benefits? It is important to note that Irish Ferries do not have a public position on this and are unlikely to do so until the outcome is more clearly defined. We have a responsibility to our shareholders and customers, to approach this in a measured way. At this very early stage in the Brexit process, any reports on the likely impact of Brexit in relation to international trade, and in turn its impact on trade through the ports in Wales, will inevitably contain a high degree of speculation. This report has been prepared in direct response to the request from the Committee, but is not intended to be the formal public position of Irish Ferries. Irish Ferries are members of the UK & Irish Chambers of Shipping and together with all of the other UK Ferry Operators, through the UK Chamber of Shipping, we have started the process of engaging with the UK Government Team, on the implications of BREXIT for our industry, to look for solutions, to facilitate and grow trade.
  • Interim Report 2005

    Interim Report 2005

    Wednesday 31 August 2016 Interim Management Report for the half year ended 30 June 2016 Irish Continental Group (ICG) the leading Irish-based maritime transport group, reports a solid financial performance for the half year ended 30 June 2016. Highlights Revenue up 5.2% to €150.5 million (2015: €143.1 million) EBITDA up 19.6% to €30.5 million (2015: €25.5 million) Basic EPS up 32.1% to 10.3c (2015: 7.8c) RoRo freight volumes up 5.6% to 139,100 units (2015: 131,700 units) Cars carried up 5.5% in the period to 170,500 units (2015: 161,600 units) Container volumes shipped in the period up 7.4% to 152,700 teu (2015: 142,200 teu) Port lifts handled in the period up 39.6% to 144,800 lifts (2015: 103,700 lifts) MV Kaitaki to remain on charter to June 2020 Net Debt down 57.3% to €18.9 million from €44.3 million at 31 December 2015 IAS 19 accounting deficit on retirement benefit schemes has increased from €5.1 million at 31 December 2015 to €32.8 million at 30 June 2016 Interim dividend 3.820 cent, up 5.0% (2015: 3.638 cent) Commenting on the results of Irish Continental Group, Chairman John B. McGuckian said; ‘‘I am pleased to report a strong performance for the first six months of the financial year underpinned by increased car and freight volumes, lower fuel prices and increased charter revenues. In the second half of the year the uncertainty caused by the outcome of the UK Referendum on European Union membership held on 23 June 2016 had an initial negative impact on tourism bookings which have since recovered.
  • Worldreginfo - A4ee58ae-Ec10-488C-A84b-7A824ae4f1da IRISH CONTINENTAL GROUP

    Worldreginfo - A4ee58ae-Ec10-488C-A84b-7A824ae4f1da IRISH CONTINENTAL GROUP

    A N N U A L R E P O R T A N D 2014 F I N A N C I A L S T A T E M E N T S WorldReginfo - a4ee58ae-ec10-488c-a84b-7a824ae4f1da IRISH CONTINENTAL GROUP Irish Continental Group (ICG) is the leading Irish-based maritime transport group. We carry passengers and cars, Roll On Roll Off freight and Container Lift On Lift Off freight, on routes between Ireland, the United Kingdom and Continental Europe. We also operate container terminals in the ports of Dublin and Belfast. We aim for continued success in our chosen markets, and focus our efforts on the provision of a reliable, timely and high quality experience for all our customers. We will achieve success by anticipating our customers’ needs and matching their requirements with superior services through constant innovation and the rapid application of technology. We measure our success through the quality of our service, as seen by our customers, which should result in delivering sustained and profitable growth for the benefit of our shareholders and staff. WorldReginfo - a4ee58ae-ec10-488c-a84b-7a824ae4f1da 2014 ANNUAL REPORT AND FINANCIAL STATEMENTS 1 Contents Business Review 4 The Group 5 Financial Highlights 6 Our Group at a Glance 8 Five Year Summary 10 Chairman’s Statement 14 Operating and Financial Review 32 Our Fleet Corporate Governance 36 The Board 38 Report of the Directors 42 Corporate Governance Statement 51 Report of the Audit Committee 54 Report of the Nomination Committee 55 Report of the Remuneration Committee 59 Statement of Directors’ Responsibilities Financial Statements
  • Full Year Results 2017

    Full Year Results 2017

    8 March 2018 Preliminary Statement of Results for the year ended 31 December 2017 Irish Continental Group (ICG) the leading Irish-based maritime transport group, reports a solid financial performance for the year ended 31 December 2017. Highlights Revenue up 3.0% to €335.1 million (2016: €325.4 million) EBITDA down 3.0% to €81.0 million (2016: €83.5 million) Basic EPS up 40.4% to 44.1c (2016: 31.4c) RoRo freight volumes up 0.5% to 287,500 units (2016: 286,100 units) Cars carried up 2.4% in the year to 424,000 units (2016: 414,100 units) Container volumes shipped in the year up 5.9% to 321,400 teu* (2016: 303,600 teu) Port lifts handled in the year up 3.0% to 296,800 lifts (2016: 288,100 lifts) Sale of the vessel MV Kaitaki yields profit after tax of €24.9 million Net cash of €39.6 million (31 December 2016: net debt €37.9 million) IAS 19 net retirement benefit surplus of €4.7 million at 31 December 2017 (31 December 2016: €13.5 million deficit) Final dividend 8.15 cent, up 5.0% (2016: 7.76 cent) *teu = twenty foot equivalent units Commenting on the results Chairman John B McGuckian said, “2017 was another successful year for the Group. Despite the headwinds of increased fuel costs and weaker Sterling, the company delivered EBITDA of €81.0 million with revenues increasing by 3.0% to €335.1 million. This was achieved due to the continued volume growth in all of its operations.
  • Annual Report 2018

    Annual Report 2018

    2018 Annual Report and Financial Statements 01 W. B. Yeats at Eastlink, Dublin Irish Continental Group 2018 Annual Report and Financial Statements Contents Our Investment Case Positioning the group for growth 04–55 Business Review Irish Continental Group (ICG) is the leading Irish-based maritime transport group. We carry passengers and cars, Roll on Roll off 06 The Group freight and Container Lift on Lift off freight, on routes between 02 08 Financial Highlights Ireland, the United Kingdom and Continental Europe. We also 03 09 Our Group at a Glance operate container terminals in the ports of Dublin and Belfast. 10 Five Year Summary 13 Chairman’s Statement We aim for continued success in our chosen markets and focus our efforts on the provision 17 Chief Executive’s Review of a safe, reliable, timely and high quality experience for all our customers. 20 Operating and Financial Review 52 Our Fleet We will achieve success by anticipating our customers’ needs and matching their 55 Executive Management Team requirements with superior services through constant innovation and the rapid application of technology. We measure our success through the quality of our service, as seen by our customers, which should result in delivering sustained and profitable growth for the benefit of our 56–91 Corporate Governance shareholders and staff. 58 The Board More online at icg.ie 60 Report of the Directors 64 Corporate Governance Report 74 Report of the Audit Committee 78 Report of the Nomination Committee 80 Report of the Remuneration Committee rior customer