Copenhagen, 2016-05-12 07:29 CEST (GLOBE NEWSWIRE) -- Announcement no. 29
OUTLOOK RAISED FOR 2016
EBITDA UP BY 77% TO DKK 405M
EARNINGS IMPROVED THROUGHOUT ROUTE NETWORK
19% HIGHER FREIGHT VOLUMES DRIVEN BY CHANNEL
Q1 2016
• 9% revenue growth excluding bunker surcharges
• Volumes boosted by 36% volume growth for both freight and passengers on Channel
• Profit before tax and special items increased by DKK 170m to DKK 157m
• ROIC before special items increased to 15.3%
OUTLOOK 2016
• Revenue growth outlook of 6%
• EBITDA outlook raised to DKK 2.3-2.5bn
”All parts of DFDS’ route network and key logistics activities contributed to the best Q1 result so far. It reflects the ongoing transformation of DFDS that our weakest quarter is now in black numbers. We are continuing the journey with the launch of new projects to enhance freight customer services in our route network and reduce haulage costs in our European logistics activities,” says Niels Smedegaard, CEO.
| Key figures | |||||||
| DKK m | Q1 | Q1 | LTM | LTM | FY | ||
| Before special items | 2016 | 2015 | ∆ % | 2015-16 | 2014-15 | ∆ % | 2015 |
| Revenue | 3,088 | 2,926 | 6% | 13,636 | 12,857 | 6% | 13,473 |
| EBITDA | 405 | 228 | 77% | 2,218 | 1,570 | 41% | 2,041 |
| EBIT | 181 | 27 | 565% | 1,353 | 800 | 69% | 1,199 |
| Profit before tax | 157 | -13 | n.a. | 1,249 | 667 | 87% | 1,079 |
For Q1 2016, reported revenue increased by 6% to DKK 3.1bn and by 9% excluding revenue from bunker surcharges.
EBITDA before special items increased by 77% to DKK 405m driven by higher volumes and average unit revenues, bunker cost savings and a positive Easter impact on the passenger activities this year.
The route network carried 19% higher freight volumes and 25% more passengers in Q1. Channel’s volume growth of 36% for both freight and passengers was a main driver of the growth following a significant capacity increase on Dover-Calais in Q1. Excluding Channel, the route network carried 5% higher freight volumes and 2% more passengers.
The Q1 result of the Nordic and Continent logistics business units was ahead of last year as was UK & Ireland in local currency.
The Group’s return on invested capital (ROIC) before special items increased to 15.3% for the last twelve months (LTM), up from 13.7% in 2015.
Outlook 2016
The full-year outlook for 2016 is raised following Q1 earnings above expectations and continued positive market trends on most routes in the Network.
The Group’s revenue is still expected to increase by around 6%, excluding revenue from bunker surcharges.
The Group’s EBITDA before special items is now expected to increase to a range of DKK 2,300-2,500m compared to a range of DKK 2,100-2,300m previously (2015: DKK 2,041m).
Read the Interim Report Q1 2016:
http://www.dfdsgroup.com/Investors/Reports/Documents/2016-Q1-DFDS-UK-Interim-Report.pdf
Read about "How we did it": www.dfds.com/q1-report
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
