4. Segmental information

Business segments

The Executive Board is deemed the chief operating decision maker within the Group. For management purposes, the Group is currently organised into two operating segments; Ferries and Container and Terminal. These segments are the basis on which the Group reports internally and are the only two revenue generating segments of the Group.

The Ferries segment derives its revenue from the operation of combined RoRo passenger ferries and the chartering of vessels. The Container and Terminal segment derives its revenue from the provision of door-to-door and feeder LoLo freight services, stevedoring and other related terminal services.

Segment information about the Group’s operations is presented below.

Inter-segment revenue is at best estimates of prevailing market prices. The inter-segment revenue in the Ferries Division in 2021 of €13.8 million (2020: €9.6 million) primarily relates to container vessels which are on time charter to the Group’s container shipping subsidiary, Eucon.

Revenue has been disaggregated into categories which reflect how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. As revenues are recognised over short time periods of no more than days, a key determinant to categorising revenues is whether they principally arise from a business to customer (passenger contracts) or a business to business relationship (freight and charter contracts) as this impacts directly on the uncertainty of cash flows.

For the year ended 31 December 2021, €323.6 million was recognised over time (2020: €272.3 million) and €10.9 million was recognised at a point in time (2020: €4.8 million). No single external customer in the current or prior financial year amounted to 10 per cent or more of the Group’s revenues. Of total Group revenues of €334.5 million (2020: €277.1 million), €7.4 million (2020: €5.1 million), all of which relates to the Ferries Division, is recognised under IFRS 16 with the remainder being recognised as revenue under IFRS 15.

Geographic analysis of revenue by origin of booking

Geographic location of non-current assets

Non-current assets exclude financial assets, retirement benefit assets and deferred tax assets. Due to the mobile nature of certain assets in property, plant and equipment, their geographic location is not always fixed.