Core Viewpoint - Irish Continental Group plc (ICG) reported a mixed performance in its trading update for the year to date as of May 3, 2025, with a notable increase in container freight volumes but a decline in car and RoRo freight carryings compared to the previous year [1][2][6]. Volume Performance - For the year to date, car volumes decreased by 7.1% to 140,800 units compared to 151,500 units in 2024 [2][6]. - RoRo freight volumes saw a slight decline of 0.6%, totaling 259,400 units compared to 260,900 units in 2024 [2][6]. - Container freight volumes increased significantly by 28.6%, reaching 132,800 teu compared to 103,300 teu in 2024 [2][8]. - Terminal lifts also rose by 9.8%, totaling 123,500 units compared to 112,500 units in 2024 [2][8]. Recent Updates - Since the last update on March 1, 2025, car volumes decreased by 0.7%, while RoRo freight increased by 2.8% [3]. - Container freight volumes rose by 23.9% since the last update, and terminal lifts increased by 9.6% [3]. Financial Performance - Consolidated Group revenue for the first four months of 2025 was €189.5 million, reflecting a 7.1% increase from €177.0 million in 2024 [5]. - The pre-IFRS 16 net debt was reported at €145.2 million, up from €56.6 million at the end of 2024, while IFRS net debt increased to €247.9 million from €162.2 million [5]. Division Performance - The Ferries Division recorded total revenues of €118.8 million, a slight decrease of 0.8% from €119.7 million in 2024 [6]. - The Container and Terminal Division saw total revenues rise by 17.6% to €80.9 million from €68.8 million in 2024 [8]. Market Conditions - The beginning of 2025 was affected by the closure of Holyhead Port, impacting volumes in the Ferries Division, but a partial reopening in mid-January has led to a more normalized market [7]. - The company is leveraging macro market weaknesses to expand its operations, including recent acquisitions of vessels [4].