Irish Continental Grp

Model update – growth back on the horizon

  • Sectors : Transport Services
  • Companies : Irish Continental Grp

Ratings and price correct at time of issue.

  • Irish Continental Grp

    Closing Price: 377c

  • RATING 30/08/18

  • PREVIOUS RATING 19/02/18



We have adjusted our numbers following ICG’s FY2021 results and volatile fuel prices (60%, which is a pass through) and now forecast EBITDA of €100m in FY2022 (from €105m). We expect EBITDA of c.€125m in FY2023, growing to €150m by FY2030, providing a growth platform that requires just maintenance capex. With the entry of a third vessel on Dover-Calais in H1 2022, Irish Ferries will be fully invested on this route.

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Mar 21 2022, 09:50 GMT