Irish Ferries Defies Odds: How Closing Holyhead Fueled a Stunning 40% Profit Surge—Here’s the Untold Strategy Behind This Game-Changer

Here’s a wild question for you: How does a ferry company not only weather the storm of a port shutdown but also cruise ahead with a 40.4% leap in pre-tax profits? Irish Ferries, under the wings of Irish Continental Group, pulled off exactly that in the first half of the year—turning what many would see as a crisis into a bona fide win. While the closure of Holyhead Port could’ve been a sinking ship scenario—leading to a dip in car transport numbers—the group strategically shifted gears. Boosts in container shipments, roll-on/roll-off freight, and port lifts more than made up for it, pushing revenues up by a solid 8.5%. It’s a masterclass in turning disruption into opportunity, showing that with the right moves, even a choppy sea can lead to smooth sailing and fattened coffers. Curious about how Irish Ferries navigated these turbulent waters and what lies ahead as the port slowly reopens? LEARN MORE

Profit before tax at the owners of Irish Ferries increased 40.4% in the first half of the year.

Irish Continental Group made €20.5m before tax, up from €14.6m in the first six months of 2024, while revenues increased 8.5% from 285.5m to €309.9m.

EBITDA increased 10.5% from €49.5m to €54.9m, and net debt rose 5.9% from €211.7m to €224.1m following the purchase of the James Joyce cruise ferry and the CT Endeavor container vessel.

The group had gross cash balance of €17.8m at the end of June, down from €41.3m last December.

A 4.4% drop in cars (264,900) due to the closure of Holyhead Port was offset by notable improvements in the numbers of containers shipped (+24.7% to 192,900), roll-on, roll-off freight (+2.2% to 393,300) and port lifts (+10% to 182,400).

Total passenger carryings decreased 3.5% to just under 1.3m, but passenger revenues increased by 8.6%.

John B McGuckian, chairman of Irish Continental Group, said it had been a successful period for the group following the closure of Holyhead Port last December.

“However, following its partial reopening during January of this year, we have seen a return to more normalised volumes without RoRo carryings to 30 June up 2.2%. Car volumes to 30 June were 4.4% behind the prior period, however this is mainly due to a reduction in sailings on the Dover – Calais route and the Holyhead disruption.

“While we welcome the partial reopening of Holyhead Port, the risk remains of delays to its full reopening. Completion of repairs by the port owner will require further operational restrictions during September and October of this year and in Q1 2026, though it is expected that full services will operate on a modified timetable.”

Photo: Strong winds cause the waves to hit the breakwater at Holyhead as the Irish Ferries ship Isle of Inishmore pulls into the harbour on the Island of Anglesey in Wales. (Pic: PAUL ELLIS/AFP via Getty Images)