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Portnet
Covid-19 pandemic impact reflected on teh financial results of the Group
The Board of Directors of Attica Group, a subsidiary of the Marfin Investment Group (MIG), announces the Group’s financial results for the year 2020, which present consolidated revenue of Euro 290.40mln compared to Euro 405.40mln for the fiscal year 2019 (reduction of 28%).
Number of sailings were reduced, as a result of the pandemic, by 27% compared to 2019.
Earnings before interest, taxes, depreciation and amortization (EBITDA) stood at Euro 40.47mln compared to Euro 78.02mln in the fiscal year 2019 (reduction 48%).
The decrease in revenue and consequently in EBITDA, compared to the fiscal year 2019, is directly related to the COVID-19 pandemic. Notably, during the first two months of 2020 (before the COVID-19 outbreak), the Group s traffic volumes increased significantly compared to the corresponding period of the previous year, a trend that was reversed complete ....

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