Italian ferry and ro-ro company Moby Group has revealed a big jump in first quarter EBITDA.
The Vincenzo Onorato-controlled owner said a new vessel addition and expansion in the Sicilian haulage market had boosted the result.
It had suffered in 2018 due to high bunker prices, but said revenue rose by 14.9% to €102.2m year-on-year, while EBITDA rose €24.6m ($27.75m) to €8.97m .
The company also banked €14.66m from selling two ships.
The net loss was reduced to €17.1m, down from €40.6m in 2018.
Sicilian revenue grew from €7.4m to €17.7m.
The quarter saw a 1.8% increase in the number of passengers carried in the Mediterranean, while the figure was up 5% in the Baltic Sea.
