Irish Continental Group (ICGC) investor relations material

Executive summary

• Revenue rose 16.1% year-over-year to €359.9m, driven by higher freight volumes and cost recovery, despite a challenging macro environment and increased operating costs.

• EBITDA increased 7.3% to €58.9m, but operating profit declined 2.4% to €24.0m due to higher fuel, port, and environmental costs.

• Net profit was €18.6m, with basic EPS up 5.9% to 12.5c.

• A recommended €8.00/share cash offer from Bluefin Bidco Limited values the company at €1.2bn; transaction expected to close in Q4 2026, pending approvals.

Financial highlights

• Revenue: €359.9m (+16.1% YoY); EBITDA: €58.9m (+7.3% YoY); Operating profit: €24.0m (-2.4% YoY); Net profit: €18.6m.

• Net debt: €226.2m (down from €256.1m at year-end); Net debt pre-IFRS 16: €176.5m (+45.7% YoY).

• Basic EPS: 12.5c (+5.9% YoY); Adjusted basic EPS: 11.6c.

• Final dividend of 10.95c/share paid for FY25; no interim dividend proposed for 2026 due to pending acquisition.

Outlook and guidance

• Second half typically generates two-thirds of annual EBITDA, but volume weakness in car and freight markets during peak summer is a significant concern.

• High fuel prices and weak car market challenge the ability to pass on cost increases.

• Directors expect adequate resources for at least 12 months and continue to adopt the going concern basis.