Both freight and passenger traffic will maintain steady growth in 2024.

Passenger activity growth continues unabated for Brittany Ferries in 2024. The Roscovite-based company will have transported 1,995,000 passengers, an increase of 6.5% compared to 2023 figures. The excellence of these figures is particularly noticeable on the English Channel, with 1,490,000 passengers transported, an increase of 6.9%, clearly standing out from its main competitors (Getlink and ferry companies), which are experiencing a much more modest growth of 3.5%. Finally, the Company's Spanish and Irish routes continue to perform well, with 505,000 passengers transported, an increase of 5.4%. In any case, the general contraction of the passenger market observed since the Covid crisis and the implementation of the Brexit agreements remains current, with a delta of 15% compared to 2019 figures and which impacts all maritime players in the Cross-Channel region.

Freight is also on the rise in 2024 for Brittany Ferries, with 162,000 trucks and trailers transported, representing a 4% increase since 2023. The contrast is increasingly evident between the long-haul Spain & Ireland routes—which maintain high growth with an 8.3% increase since 2023 and 54,000 trucks and trailers transported—and the cross-Channel routes, where the market is stagnating with 108,000 trucks and trailers transported—representing a 0.1% increase, 18% lower than the 2019 figures.

In conclusion, the cross-Channel passenger market is slowly returning to the performance recorded in 2019 before the dual Covid and Brexit crises, which is not the case for freight, which has been lastingly impacted by the significant contraction of the British economy. Brittany Ferries' decision to take the lead on the Transgascogne freight and passenger services has proven particularly strategic and competitive over the past four years.

Covid debt significantly reduced over the past year

In 2024, Brittany Ferries will, as promised, repay the repayable advances granted by the Brittany and Normandy Regions during the Covid health crisis to cope with the closure of its passenger lines. These were EUR 30 million for Brittany and EUR 35 ??million for Normandy, respectively. Brittany Ferries fully repaid the two Regions between October and November 2024.

Furthermore, repayments of the State-Guaranteed Loan (PGE) began in December 2022. Nearly one-third of this EUR 117 million PGE, or EUR 42 million, has been repaid by 31 December 2024.

Since 2023, more than EUR 107 million has been used to significantly reduce the company's debt due to the health crisis. Brittany Ferries' next firm commitment: a 50% repayment of the State-guaranteed loan (EUR 58.5 million) by 31 December 2025.

For Christophe Mathieu, Chairman of the Brittany Ferries Board of Directors, "These figures largely confirm the relevance of the strategic directions taken since 2010 with our development of long-distance routes, Spain and Ireland, which now represent almost 50% of our revenue. Furthermore, we continue to optimize our passenger and freight pricing to successfully offset the sluggish cross-Channel market since 2019. These results strengthen our confidence and allow us to successfully pursue the gradual decarbonization of our fleet, thus undeniably taking the lead in the French merchant marine sector."

For Jean-Marc Roué, Chairman of the Brittany Ferries Supervisory Board, “More than ever, Brittany Ferries is demonstrating its resilience after the terrible impact of the dual Covid and Brexit crises. The entry of new private shareholders into the capital in 2024 illustrates the renewed confidence in our highly distinctive economic and social model, marked by its regional roots. With the unwavering support of our long-standing shareholders, the agricultural cooperatives of Sica de Saint-Pol, Maraîchers d’Armor and Terres de Saint-Malo, we have returned to growth and are proud to have offered France the first two largest hybrid ferries in Europe in 2024.” »

Key Figures

2024 Revenue: EUR 516 million - Employment: 2,707 employees including 1,818 seagoing crew (full-time equivalent) - Passengers: 1,995,000 passengers - Freight: 162,000 - Fleet: 13 ships - Tourism Impact: 738,000 unique visitors in France, generating 9 million overnight stays - 12 ports: Roscoff, Saint-Malo, Cherbourg, Caen, Le Havre, Plymouth, Portsmouth, Poole, Cork, Rosslare, Santander, Bilbao.