Grimaldi imposes its strength and reports €4.8 billion in 2022 (+41%)

Emanuele Grimaldi had anticipated that the 2022 results of the business group he leads would be the "best results in history" of the powerful Italian shipping group and has now stated that “the excellent results we are obtaining from all our main subsidiaries are necessary for the large investments we will have to make towards ecological transition.”

The figures obtained are truly extraordinary, with a record turnover of €4.8 billion, representing a 41% increase compared to €3.4 billion in 2021. These numbers are the result of the highest volumes of passengers, new cars, containers, and general cargo transported.

Ebitda rose to €1.7 billion (+78.8%) and Ebit to €1.2 billion (+140.8%), so “these are, by far, the best achieved by the Grimaldi Group in its long history and confirm exponential and continuous growth, with the exception of 2020, which was affected by the effects of Covid.”

In addition to also boosting the container transport business (especially on routes to and from West Africa and transatlantic trade with Atlantic Container Line), one of the most significant developments in 2022 for the Grimaldi Group has been its entry into the Far East, with the launch of a regular line for car transport connecting the Mediterranean, Northern Europe, the Baltic, West Africa, North America, and South America.

By the end of 2022, the managed fleet consisted of 140 ships, of which 130 are owned, with an average age of around 14 years.

Regarding the foreseeable evolution of management for the near future, the financial statements indicate that, despite uncertainties (mainly related to the conflict between Russia and Ukraine), "the management evolution in the first months of 2023 up to March 2023 has not recorded reductions in activities and/or volumes transported".

Among the events occurring after December 31, 2022, Grimaldi Group also reports the imminent sale to Dido Steel Corporation for the scrapping of the ferry “Euroferry Olympia,” with a residual value of €4.4 million, a victim of a serious fire that occurred in February 2022 while sailing off the island of Corfu on the route between Greece and southern Italy.

In the chapter on Non-recurring assets held for sale, the company reports that "Finnlines is negotiating the sale of some port assets recorded on the balance sheet for an approximate amount of €14.6 million.

Photo: Manuel Aguilera Panadero for puentedemando.com