Independent journal on economy and transport policy
14:59 GMT+1
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The crocieristico group and hotel Louis Cypriot has closed 2011 with a net loss of 60,9 million euros
The revenues are diminished of 10.2%
March 1, 2012
In the 2011 crocieristico group and hotel Louis Cypriot plc has recorded a net loss of 60,9 million euros regarding a net loss of 10,2 million euros in the year precedence. attesting itself to 247,5 million euros. Also the operating profit is dropped coming down to 45,6 million euros (- 18.4%).
The important loss of 2011 includes the effect of not recurrent burdens between which the expenses lawyers for 10,3 million euros tied to the controversy for the taken lacked one in delivery of the cruise ship Norwegian Dream( on 10 June 2011), the reduction of the value pairs to 25,4 million euros relative to two ships and billetings for 8,9 million euros for devaluation of credits abroad connected with the sale of the Pearl Aegean.
The group has announced that the reduction of the volume of transactions is determined by the bending of revenues (- 20.4%) of the branch crocieristica Louis Cruises who last year has operated two ships in less regarding 2010, that is the Aegean yielded Pearl in May 2010 and yielded Aquamarine in December 2010. Louis has specified that also the modification of the operating activity of the Louis Cristal ship, because of the political instability in Egypt, has had an impact negative on the results, so as has had it the effects of the Greek economic crisis on the activity of the port of the Pireo, that it is the main port of call of departure of the majority of the cruises of the group, and the strong competition in the market of the western Mediterranean. The revenues of the hotel field instead are increased of 17.4%.
The Cypriot group has specified that last year, although the increase of the prices of the fuel and the increase of the taxes in the port of the Pireo, graces to a series of measures is successful to reduce the operating costs in absolute terms.
Louis has announced that in the 2012 ulterior measures will be put into effect in order to reduce the operating costs and efforts in order to increase the revenues.
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In the 2011 crocieristico group and hotel Louis Cypriot plc has recorded a net loss of 60,9 million euros regarding a net loss of 10,2 million euros in the year precedence. attesting itself to 247,5 million euros. Also the operating profit is dropped coming down to 45,6 million euros (- 18.4%).
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
