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16-08-2018 07:50:11

DFDS A/S: Interim Report Q2 2018: Acquisitions fuel growth

Company announcement no. 49

  • Revenue up 6% to DKK 3.9bn

     

  • EBITDA up 9% to DKK 802m

     

  • U. N. Ro-Ro consolidated from 7 June

 

 

 

Q2 2018

· Continued growth in freight ferry operations

· Passenger impacted by early Easter and cost increase

· Logistics' EBITDA up 25%

OUTLOOK 2018

· Revenue growth of around 10%

· EBITDA of DKK 3.0-3.2bn

· Investments lowered DKK 200m to DKK 5.0bn

"We are pleased to deliver a solid result for Q2. Despite the current situation in Turkey we are progressing well with the integration of the new ferry operation between Europe and Turkey and on track for completion this year. We continue to monitor other opportunities to grow and create value," says Niels Smedegaard, CEO.

KEY FIGURES

 

 

 

 

 

 

 

        

DKK m

2018

2017

 

2017-18

2016-17

 

2017

Before special items

Q2

Q2

CH %

LTM

LTM

CH %

FY

        
Revenue 3,894 3,6885.6% 14,799 14,0585.3% 14,328

EBITDA

802

738

8.6%

2,805

2,637

6.4%

2,702

EBIT  533  5026.1% 1,840 1,7008.2% 1,782
Profit before tax 494 495-0.1% 1,758 1,6685.4% 1,727

In Q2, revenue increased 6% to DKK 3.9bn driven by the expansion of the route network in the Mediterranean as well as continued growth in the freight activities in northern Europe. This was also the key drivers of the increase in EBITDA before special items by 9% to DKK 802m.

The growth of freight ferry volumes was in line with expectations in both northern Europe and the Mediterranean with overall growth of 6% in Q2. Logistics volumes were up 5% in Q2 for continuing activities.

The early Easter contributed to a reduction in passenger volumes in Q2 of 1% while volumes were up 4% for the first half-year.

OUTLOOK 2018

The earnings outlook is unchanged with a range for EBITDA before special items of DKK 3,000-3,200m (2017: DKK 2,702m). Due to the recent sharp depreciation of TRY, the outlook is associated with a higher level of uncertainty than usual. The Group's revenue is still expected to increase by around 10% in 2018.

Investments are lowered DKK 200m to DKK 5.0bn primarily due to a lower equity value price for U.N. Ro-Ro than previously expected.

Read the Interim Report 2018 here:

https://www.dfds.com/en/about/investors/reports-and-presentations

Contact

Niels Smedegaard, CEO +45 33 42 34 00

Torben Carlsen, CFO +45 33 42 32 01

Søren Brøndholt Nielsen, IR +45 33 42 33 59

Rikke Riise, Communications +45 33 42 34 71

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

DFDS Q2 2018 annm v8


This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: DFDS A/S via Globenewswire

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