Irish Continental Group (ICG) has issued a trading update reporting a 10 per cent increase in consolidated group revenue for the first ten months of 2025, reaching €573 million compared to €521 million in the same period of 2024.
The growth was driven by strong performance in the container and terminal division and increased Ro-Ro freight volumes, offsetting a decline in car carryings.
For the year to November 22, 2025, the ferries division carried 735,200 Ro-Ro freight units, a 4.9 per cent increase on the previous year. However, car volumes decreased by 4.8 per cent to 624,300 units.
Total revenues for the ferries division up to October 31 amounted to €399.5 million, a 6.3 per cent increase year-on-year.
The container and terminal division recorded a 16.2 per cent increase in revenue to €199.1 million for the ten-month period. Container freight volumes shipped year-to-date rose by 16.6 per cent to 338,100 TEU. Terminal lifts at Dublin and Belfast increased by 5.8 per cent to 324,800 units.
ICG reported net debt (pre-IFRS 16) of €119.8 million as of October 31, up from €56.6 million at the end of 2024. On an IFRS 16 basis, net debt stood at €242.3 million. The increase was attributed to capital expenditure, including the acquisition of the ferry James Joyce and the purchase of an additional container ship during the year.
Since the last trading update on August 23, car volumes have declined by 6.5 per cent, while Ro-Ro freight and container freight volumes have grown by 6.8 per cent and 6.9 per cent, respectively.