Financial Highlights

Revenue
EBITDA
Adjusted Earnings per Share
Dividend per Share

*

* 4.42 cent paid. A further 8.99 cent proposed for agreement at AGM.

David Ledwidge portrait

Principal variations on the prior year include the revenue effects of the improved schedule integrity in the Ferries Division, together with the introduction of the W.B. Yeats into service.

David Ledwidge, Chief Financial Officer, 2018 Annual Report

Five year summary

Summary extract of Income Statement 20193
€m
2018
€m
2017
€m
2016
€m
2015
€m
Revenue 357.4 330.2 335.1 325.4 320.6
Other operating expenses and employee benefits expense (270.6) (261.8) (254.1) (241.9) (245.1)
Depreciation and amortisation (36.8) (22.1) (20.7) (20.9) (18.3)
50.0 46.3 60.3 62.6 57.2
Non-trading items1 14.9 13.7 28.7
Interest (net) (3.4) (0.8) (1.3) (2.2) (3.1)
Profit before taxation 61.5 59.2 87.7 60.4 54.1
Taxation (1.3) (1.4) (4.4) (1.6) (0.4)
Profit for the year 60.2 57.8 83.3 58.8 53.7
EBITDA (pre non-trading items) 86.8 68.4 81.0 83.5 75.5
Per share information: €cent €cent €cent €cent €cent
Earnings per share
– Basic 31.7 30.4 44.1 31.4 28.9
– Adjusted2 23.8 23.1 31.0 31.4 29.1
 
Dividend per share 13.4104 12.770 12.160 11.580 11.025
Shares in issue at year end: m m m m m
– At year end 187.4 190.3 189.9 188.3 186.4
– Average during the year 189.8 190.0 188.8 187.5 185.8

1 Non-trading items are material non-recurring items that derive from events or transactions that fall outside the ordinary activities of the Group and which individually, or, if of a similar type, in aggregate, are separately disclosed by virtue of their size or incidence.

2 Adjusted earnings exclude pension interest and non-trading items.

3 The 2019 reported results include the effects of first time adoption of IFRS 16 Leases. Prior year figures have not been restated for the effects of IFRS 16 which was adopted with effect 1 January 2019. The effect on the Consolidated Income Statement for financial year 2019 was to decrease operating expenses by €9.4 million, increase depreciation charges by €8.6 million, increase interest expenses by €1.0 million, a net reduction in profit after tax of €0.2 million. The effect on the Consolidated Statement of Financial Position was to increase assets by €35.3 million and liabilities by €35.5 million and reduce retained earnings by €0.2 million.

4 4.42 cent paid. A further 8.99 cent proposed for agreement at AGM.

Summary extract of Statement of Financial Position 20193
€m
2018
€m
2017
€m
2016
€m
2015
€m
Property, plant and equipment, intangible and right of use assets 353.5 308.1 250.0 205.1 170.9
Retirement benefit surplus 12.5 2.5 8.1 2.4 5.6
Other assets 225.8 203.7 135.2 84.1 67.9
Total assets 591.8 514.3 393.3 291.6 244.4
 
Equity capital and reserves 287.9 252.9 223.8 144.4 115.5
Retirement benefit obligation 3.7 4.2 3.4 15.9 10.7
Other non-current liabilities 229.3 205.7 51.5 5.3 60.0
Current liabilities 70.9 51.5 114.6 126.0 58.2
Total equity and liabilities 591.8 514.3 393.3 291.6 244.4

Note: Summary extracted from audited financial statements

Summary extract of Consolidated Statement of Cashflows 2019
€m
2018
€m
2017
€m
2016
€m
2015
€m
Net cash inflow from operating activities 84.8 61.5 71.8 82.1 68.2
Net cash (outflow)/ inflow from investing activities (52.3) (158.8) 27.7 (55.6) (34.8)
Net cash (outflow)/ inflow from financing activities (46.5) 131.4 (51.3) (7.8) (28.0)
Cash and cash equivalents at the beginning of the year 124.7 90.3 42.2 25.0 19.4
Effect of foreign exchange rate changes 0.2 0.3 (0.1) (1.5) 0.2
Closing cash and cash equivalents 110.9 124.7 90.3 42.2 25.0
€m €m €m €m €m
Net (debt)/ cash (129.0) (80.3) 39.6 (37.9) (44.3)
Times Times Times Times Times
Net Debt / EBITDA 1.5x 1.2x N/A 0.5x 0.6x
Gearing (Net debt as a percentage of shareholders’ funds) 45% 32% N/A 26% 38%

Note: Summary extracted from audited financial statements