The Parent Company
For the 9-month period of 2009 the revenues stood at euro 140.1 million having been affected by the global crisis and the consequent decline of commercial activities between Greece and the member countries of the European Union. The aforementioned development affected negatively the truck traffic volumes on the routes of Adriatic Sea.
The operating profitability (EBITDA) was shaped at euro 17.4 while the net results after taxes for the 9-month period of 2009 stood at euro 56.5 million.
In the company's net results, the profit from Hellenic Seaways' valuation, amounted to euro 58.8 million, was included. According to the respective agreement, the sale of the participation in Hellenic Seaways will be concluded in 2012 with the full repayment of the agreed sale amount euro 125 million.
The Group
For the 9-month period of 2009, the group?s turnover and the operating profits (ΕBITDA) stood at the same level with that of the parent company.
The group's net results for the 9-month period of 2009 stood at euro 46.5 million presenting decline compared to the respective ones of the parent company. The differentiation, recorded and noted in the net results of the Group, in comparison with the ones of the parent company, is due both to the difference in the results from the valuation of the company Hellenic Seaways and its corresponding net results of the company in the period from 1/1 until 30/6/2009 during which Minoan Lines had material influence.
Traffic
Domestic Market
During the 9-month period of 2009 in the route Heraklion-Piraeus, despite the entrance of a new competitor with daily departures, the traffic volumes of passengers and cars posted increase compared to the respective period in 2009. The company managed to maintain its leading position and carried 828 thousand passengers, 124 thousand cars and 46 thousand trucks. Moreover, market shares were shaped at 63.7%, 61.2% and 42.8% for passengers, private cars and trucks respectively while Minoan Lines accomplished the 39.4% of trips in the market.
North Adriatic Routes
In the North Adriatic market (International routes / Ancona & Venice) a decrease in the traffic volumes of the whole market was noted due to the global economic recession. Minoan Lines, having as a principle the achievement of the most efficient economic operation of its fleet, succeeded in the 9-month period of 2009 higher market shares in all traffic categories compared to the respective share of trips. More specifically, the market shares stood at 37.3%, 37.8% and 33.6% for passengers, private cars and trucks respectively while Minoan Lines accomplished the 33.2% of trips in the market. Moreover, during the 9-month period of 2009 Minoan lines carried 479,000 passengers, 125,000 cars and 58,000 trucks.
Deployment of the vessel Cruise Europa
On October 15, 2009 the new building vessel Cruise Europa was deployed on the route Patra - Igoumenitsa - Ancona upgrading substantially the level of services on that route. Cruise Europa is the best cruise ferry in the Mediterranean and has been built to high standards similar to those of a cruise ship while it inaugurates a new era in the sea transportation services between Greece and Italy.
The vessel Cruise Europa can host up to 3,000 passengers, while, with a garage of 3,000 linear meters, it can carry 180 trucks and 250 cars.