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Andy

2016/17 Results

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In spite of the Brexit and the falling Pound Sterling, Brittany Ferries maintains its activity at a reasonable level on the Channel and continues its progression on its longer routes as passengers and Freight. The diversification strategy begun in the past 10 years is paying off.

Cross-channel passenger activity is down. However the longer routes to Spain saw an increase in passenger traffic and the freight activity is increasing on all routes.

The financial results of the company were obviously be impacted by the current low level of the British Pound. The overall passenger activity fell by 3% in 2017: -5% on the cross-channel routes but increased by + 5% on the longer routes between the UK to Spain and Ireland to France.

Freight growth was 4%, + 2% on the cross-channel routes and + 14% on the Spanish routes.

The significant drop in the number of "first-time visitors" raises the question of the attractiveness of French regions in the West for future generations of British people. An unexpected impact of Brexit was that French clientele is also down on the Channel,  aggravated by the acts of terrorism experienced by the city of London in spring 2017.

The routes to Spain and Ireland continue to grow, confirming the attractiveness of these destinations for the British and French.

4% growth in freight activity
Freight activity is up compared to 2016, with a growth of 4% in the number of trucks and trailers transported.
The Brittany Ferries Motorway between Britain and Spain reaches the symbolic figure of 40,000 freight units avoiding billions of kilometers of transit to French roads and thus contributing to the preservation of the environment.

Call for mobilization to promote the destination France
Jean-Marc Roué, Chairman of the Supervisory Board: "The 2017 season is ending according to our forecasts. It is obvious that Brexit impacts our business. However we resist on the Channel and continue our development of our longer routes. The current level of the British Pound will strongly impact our future financial results. This is a parameter that we obviously do not control and all our partners, suppliers and employees must now integrate this situation.

It is therefore important for all of us to be aware of the difficult times we are going through as the company has to invest continuously in the renewal of its fleet, in its digital transformation and in means of security protection.

I call for an unprecedented mobilization on the means of promoting the France destination in England. I remember that British tourists are the first foreign visitors to France but that on their top 10 favorite destinations for their holidays, only France, unlike countries such as Spain, Portugal and Italy is in decline."

Brittany Ferries consolidates its historic position as the main source of British overnight stays in Western France. In 2017, nearly 10 million nights of British generate some 600 million euros in economic benefits in the French regions of the West served by the company's ships from the five ports in Brittany (Roscoff, St Malo) and Normandy (Cherbourg, Caen, Le Havre).

Source: http://corporate.brittany-ferries.com/actualite.aspx?card=5618 

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Cheers Ed. Will be interesting to see if they stuck their head above the line or not and actually made any money. Was looking at Tallinks figures, and although a very different market, similar in some respects of the business. They made something like 60m on 900m turnover - which is pretty decent. Shame BF cannot seem to make good profits even with high prices and when business is good. However, I will end there, before we go into the old argument about costs of French crews and so on! :)

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