DFDS achieves record result in Q3


Copenhagen, 2015-11-19 08:00 CET (GLOBE NEWSWIRE) -- Announcement no. 92

 

OUTLOOK RAISED FURTHER TO EBITDA OF DKK 2.0-2.1BN FOR 2015

STRONG VOLUME GROWTH CONTINUED IN HIGH SEASON

SOLUTION ON ENGLISH CHANNEL BOOSTS RESULTS

 

  • 11% organic revenue growth achieved in Q3
  • Operating profit (EBITDA) increased by 35% to DKK 843m
  • 9% higher freight shipping volumes
  • 11% more passengers
  • 9% higher logistics revenue
  • Profit before special items and tax increased by 59% to DKK 595m
  • Total ROIC increased to 12.6% (LTM)

”Our investment in customer focus and constant pursuit of operating efficiency enabled us to benefit from growth in several of our key markets and deliver a record result in Q3,” says Niels Smedegaard, CEO.

”We will continue our work of raising results for underperforming activities and preparing DFDS for future challenges,” says Niels Smedegaard, CEO.

 

KEY FIGURES              
DKK m Q3 Q3   LTM*) LTM*)   FY
Before special items 2015 2014 %  2014-15  2013-14 %  2014
Revenue 3,792 3,567 6% 13,208 12,715 4% 12,779
EBITDA 843 626 35% 1,937 1,396 39% 1,433
EBIT 626 423 48% 1,112 684 63% 695
Profit before tax 595 375 59% 976 562 74% 571
*) LTM: Last twelve months              

 

DFDS achieved strong organic revenue growth of 11% in Q3. This was driven by 9% higher freight shipping volumes and an increase of 11% in the number of passengers as well as rising unit revenues.

Revenue growth was 6% not adjusted for route closures in 2014.

EBITDA before special items increased by 35% to DKK 843m driven by the high operating leverage of the Shipping Division.

For the last twelve months a return on invested capital (ROIC) before special items of 12.6% was achieved, up from 8.0% for the full-year 2014. DFDS targets a ROIC of minimum 10% across the cycle.

All five shipping business units improved performance in Q3, particularly the Channel, Passenger and North Sea units.

The result of the Logistics Division was on a level with last year and in line with expectations. Compared to last year, the operating profit margin was reduced by the implementation of a new automotive logistics contract and lower earnings in Norway. 

Following the Q3 result and continued volume growth in October, the full-year outlook for EBITDA is raised to DKK 2.0-2.1bn before special items from DKK 1.8-1.9bn in August.

 

 

 

         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


Attachments

DFDS_Annual_Q3_2015_Final.pdf