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P&O PIONEER © Julien Carpentier

P&O PIONEER © Julien Carpentier

P&O Ferries 2021 financial results released

FinanceP&O Ferries released their financial results covering 2021. The net loss for the year, after taxation, amounted to GBP 375.6 million (2020: loss GBP 105.3 million). Revenue ended at GBP 834.8 million (GBP 865.7 million), while EBITDA ended at GBP -28.9 million (GBP -25.6 million).

Freight units: 1.827 million (1.952 million)
Tourist vehicles carried: 282,000 (401,000)
Total passengers carried: 1.986 million (2.727 million)

A spokesperson for P&O Ferries said: "The impact of the pandemic made 2021 a particularly challenging time for our business and the maritime sector as a whole, across both freight and tourism.

"P&O Ferries' 2021 financial accounts confirm what we have said previously – that the business needed to make major changes to its operating model in order to survive. These changes mean we have secured the long-term future of the business, the service our customers rely on and our critical role in keeping the UK connected."

"We are working hard to return the business to long-term profitability, and to thrive in a highly competitive market.

"We are now serving the needs of customers better than ever before. We are proud to be the market leader in ferry travel on the Channel – in the first three months of this year P&O Ferries carried 45 percent of total passenger ferry crossings between Dover and France, more than any other ferry operator."

"Last summer we carried more than one million passengers and our passenger booking numbers are now the highest we've had either during or since the COVID-19 pandemic."

Read the full report here

© Shippax

May 01 2023


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