SUPERFAST FERRIES RANK NUMBER ONE IN THE ADRIATIC. HIGHER PROFITS ANNOUNCED FOR 1999
ATTICA ENTERPRISES S.A., sole shareholder of SUPERFAST FERRIES MARITIME S.A. and controlling shareholder of STRINTZIS LINES SHIPPING S.A., announces the financial results for the year 1999 and market shares achieved in the international routes. Atticas subsidiary Superfast Ferries Maritime S.A. posted sales of Grd 29.6 billion, higher by 10.4% compared to the previous year. Earnings before interest on loans and depreciation stood at Grd 12.5 billion, an 11% increase over 1998. Net profit at Grd 8.6 billion is showing a 15.1% rise over 1998. Strintzis Lines, a subsidiary of Attica, showed sales of Grd 26.8 billion, 10.5% higher than 1998. Earnings before interest on loans and depreciation stood at Grd 7.2 billion, an increase of 10.3% over the previous financial year and net profit was Grd 3 billion, higher by 27% compared to 1998. Strintzis Lines, acquired by Attica in December 1999, will be consolidated in the groups results as of financial year 2000.
Attica Enterprises Group, without Strintzis Lines, posted earnings before interest on loans and depreciation of Grd 13.1 billion and net profit of Grd 9.1 billion, showing an increase of 3.4% and 0.5% respectively over 1998.
Superfast Ferries Maritime S.A. for the second consecutive year, ranked first in the transportation of passengers and commercial vehicles and second in the private vehicle traffic with a market share of 24.1%, 26.03% and 21.45% respectively, competing among a total of 45 ships employed in the Adriatic trade between Greece and Italy.
Compared to 1998, the four Superfast ferries carried 13.7% more passengers, 20% more trucks and 24.2% more private vehicles.
The four Superfast ferries which trade in the routes between Ancona - Patras and between Bari - Igoumenitsa - Patras ranked first in all categories of traffic competing with a total of 8 and 12 ships respectively.
Strintzis Lines achieved remarkably higher market shares with 6 ships in the Greece - Italy routes and obtained the third place in the overall traffic. In total, Strintzis Lines carried 14% of passengers, 16.1% of trucks and 13.3% of private vehicles of the Greece - Italy traffic. The company carried 21.4% more passengers, 60.1% more trucks and 63.1% more private vehicles, compared to 1998.
The six brand new ferries of the latest technology due for delivery in the course of the year, are expected to increase sales and profits for the Group in 2000.
Atticas Management is carefully planing the Companys development with a stable objective to increase profitability along with expansion.