Irish Continental Irish Continental Group Plc : Interim Management Statement

TIDMICGC

INTERIM MANAGEMENT STATEMENT

Volumes (Year to date, 9 May 2015)

Change
Passengers 418,600 +3%
Cars 94,800 +8%
RoRo Freight 91,800 +11%
Container Freight (teu) 100,000 -1%
Terminal Lifts 67,400 +3%

Irish Continental Group (ICG) issues this interim management statement
which covers carryings from 1 January to 9 May 2015 and financial
information for the first four months of the year, i.e. 1 January to 30
April. It should be noted that ICG's business is significantly weighted
towards the second half of the year when normally a higher proportion of
the Group's operating profit is generated than in the first six months.

In the period to 9 May 2015, Irish Ferries carried 94,800 cars, an
increase of 8% on the previous year. Total passenger volumes increased
by 3% compared to the previous year to 418,600.

In the Roll on Roll off freight market, Irish Ferries carried 91,800
units, an increase of 11% compared with the same period in 2014.

Container freight volumes shipped were down 1% on the previous year at
100,000 teu (twenty foot equivalent units), while units handled at our
terminals in Dublin and Belfast increased 3% year on year, over the same
period to 67,400 lifts.

In the first four months of the year, Group revenue rose 7.3% to EUR85.1
million, compared with EUR79.3 million in the same period last year.
Operating costs (before depreciation & amortisation) were 1.6% lower at
EUR74.8 million, versus EUR76.0 million the previous year, mainly
reflecting the lower cost of fuel. Earnings before interest, tax,
depreciation and amortisation (EBITDA) was EUR10.3 million compared with
EUR3.3 million in the same period in 2014. The operating profit (before
interest) was EUR4.4 million compared with an operating loss of EUR2.3
million in 2014. Net debt at the end of April was EUR45.5 million
compared with EUR61.3 million at 31 December 2014.

Following the completion of an extensive tender process by Belfast
Harbour Commissioners, ICG announces that it has been awarded the
Services Concession for the operation of a combined container terminal
at Victoria Terminal 3 (VT3) in Belfast Harbour. The agreement is for a
period of 5 years with a further 3 year option. This will involve the
consolidation of the two existing container terminals in Belfast (one of
which, BCT, is operated by ICG) into one location at VT3. The process of
consolidating the volume of both terminals, which will involve some once
off costs, will commence shortly.

Dublin

14 May 2015

Note - The comparative financial information has been restated to the 30
April 2014 which is on the same basis as the current year. In the
previous year the financial information disclosed in the interim
management statement for the first four months of the year was up to the
26 April 2014.

Enquiries

Eamonn Rothwell, CEO, +353 1 607 5628

Garry O'Dea, Finance Director,
+353 1 607 5628

David Ledwidge, Chief Financial Officer Designate, +353 1 607 5628

This announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.

Source: Irish Continental Group plc via Globenewswire

HUG#1921651

www.icg.ie

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