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Turnover from Operations The exit from North Europe in combination to the demoralize in entreat in the respire of the regions has resulted in the drop of 2008 revenues compared to 2007. It must be clarified similarly that Greek ferry operators pack their vessels abroad. Companies such(prenominal) as MINOAN LINES, absolute SEAWAYS and NEL LINES obtained significant revenues via the adoption of such practices. EBITDA Market EBITDA results present a significant decline of -51% in 2008 compared to 2007 after the significant profit of 18% in 2006 compared to 2005 ( ascertain 16). This is princip ally due to the fact that all ferry companies inform significantly lour results. For instance ANEK LINES reported -37%, MINOAN LINES -47%, ATTICA congregation -31% and NEL LINES reported a decrease in their EBITDA results of -867%. Only authoritative SEAWAYS reported marginally improved results of 5%. The heights fuel cost along with the decrease in demand in all areas of operation form contributed to the chastise results ever with NEL LINES rest out (see section 5.1.4 for more details). Figure 16: EBITDA for Listed and HELLENIC SEAWAYS (2004-2008) Source: XRTC Net Results before levy Net results are move by -99% in 2008 compared to 2007, as presented in Figure 17.

after an impressive improvement of the give the axe results for two consecutive years between 2004 and 2006, where a cross-file of 80% increase is reported, companies look to be affect by fuel prices and by the high contention levels that exist in some itineraries. Characteristic is the case of ANEK LINES sta ting that revenues were affected in the tra! vel guidebook of Piraeus Chania due to competition. All ferry operators have reported lower net results with NEL LINES standing out with -196%, and ANEK LINES, MINOAN LINES, ATTICA GROUP and HELLENIC SEAWAYS following with -152%, -80%, -64% and -39% respectively. ?= Bank Debt As presented in Figure 18a, bank liabilities increased by 5.6% compared to 2008. Bank loan levels have decreased...If you indispensableness to deliver a full essay, order it on our website: OrderCustomPaper.com

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