DFDS reports steady progress in Q2

DFDS reported revenues of DKK* 3,688m in Q2 of 2016. This represented a 3.8% year-on-year increase. EBITDA grew 5.6% to DKK 738m, with overall profit before tax of DKK 495m, up 11.6% year-on-year.

In the Shipping Division, revenues grew 3.4% to DKK 2,523m, with EBITDA before special items up 4.6% to DKK 680m. North Sea business benefited from continued growth in trading between UK, continental Europe and Scandinavia. The Baltic Sea route network also increased earnings and together offset a lower result in Channel driven by a weakening of the passenger market, following the depreciation of GBP, and a lower freight market share. 

In the Logistics Division, revenues grew 6.2% to DKK 1,346m. EBITDA before depreciation and special items jumped 5.8% to DKK 73m. This was driven by results in the Nordic business units, as well stronger than expected performances from acquisitions.

Niels Smedegaard, CEO of DFDS, said “We are pleased with our steady progress and remain on track to improve on the record result of last year. The activity in our route and logistics network reflects Europe’s growth. Prospects for continued growth in the key UK market remain positive and trading with continental Europe is increasing, especially UK exports.”

The group expects revenue growth of around 4% in 2017. The range for EBITDA before special items is unchanged from previous estimates at DKK 2,600m-2,800m.

Source: DFDS

*DKK 7.43=€ /DKK 6.78=$