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            october 15, 2019

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Moby Group presented the 2019 first half results

  13.09.2019    

Milan – With an EBITDA that leaps from -8.8 to more than 47.8 million and total revenues increased by 20 million, Moby Group presented today the 2019 first half results. Thanks to an optimization of costs and rationalization of the fleet, the Moby Group six-monthly financial statement confirms the improvement already signalled during the first quarter of the year with positive trends both in the passengers sector that scored a 3.5% increase of traffic and in the cargo activities that registered higher revenue.
Overall, the Moby Group's revenues reached 253.6 million, with 8.7% growth compared to the corresponding period of the previous year.
Among the positive factors are to be mentioned: the implementation of start-up activities that had been started in 2018, active management of bunker and consumption costs, rationalization and optimization operations implemented in the fleet structure and the consolidation of the market shares acquired on the main strategic markets for the Group, primarily the Sicilian and more generally the motorways of the sea.
These results have been also easied by the entry into service of the new flagship *Maria Grazia Onorato* built in the Flensburg shipyard, to be joined shortly on the routes of the Group by the sister ship "Alf Pollak".
Positive results in the passenger sector in the Mediterranean are direct consequence of a pricing policy aimed at promoting tourist flows to and from Sardinia in season different from the summer time peak, while in the Baltic, where growth was 4%, the Moby Group might be willing to strengthen its position.
Figures for the first half confirm indications that emerged in the first quarter of the year.
"The action plan launched in 2018, which also provides for an improvement in the composition of the fleet of the Moby Group - stated the CEO, Achille Onorato - is achieving all the objectives we had set allowing the company to strengthen its financial position and to continue on the path of rationalization and optimization of services. All the above indications confirmed by investments in newbuilding both in the cargo sector and in the passenger sector with ships under construction in the Chinese shipyard GSI of the CSSC Group with a capacity of 4000 linear meters of cargo, 2500 passengers.
With a business that boasted positive results, the fleet development plan is meeting the expected targets: in the freight sector, the replacement of smaller capacity ships in terms of linear meters, with more performant and efficient vessels and efficient, has resulted in an optimization of the service and a sharp reduction in costs; even in the passenger sector, the replacement of ships, in addition to having generated capital gains, is an integral part of an overall strategy focused on improving the service for our customers according to the demand and therefore the transport capacity to be deployed on the various routes, modulating the hold capacity on the average transport demand.
The 2019 first half also marked an intensification in technological innovation choices in terms of environmental protection.
"In addition to the income results, the best indicator - concluded Achille Onorato - is provided by the growth in employment levels in the various sectors of activity of the Group, including the port and logistics, (especially through the company Manta in joint venture with the Group Ars Altmann), which continue to show a strongly positive trend both in terms of direct employment and in the different markets called by our vessels.”



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