Copenhagen, 2016-08-18 07:38 CEST (GLOBE NEWSWIRE) --
Announcement no. 49
EBITDA UP BY 27% TO DKK 699M IN Q2
CONTINUED STRONG GROWTH IN FREIGHT VOLUMES
NEW SHARE BUYBACK OF DKK 350M
DIVIDEND RAISED TO DKK 3.00 PER SHARE FROM DKK 2.00
Q2 2016
- 7% revenue growth, adjusted
- Freight volumes boosted by 63% higher volumes in Channel
- Profit before tax and special items increased by 39% to DKK 443m
- ROIC before special items increased to 16.4%
OUTLOOK 2016
- Revenue growth outlook of 6% unchanged
- EBITDA outlook further raised to DKK 2.45-2.60bn (DKK 2.30-2.50bn)
- New buyback and higher dividend increases capital distribution to DKK 1.25bn
”We are pleased to deliver strong numbers again in Q2. We continued to benefit from the moderate growth in most parts of Europe and our ongoing improvement and efficiency projects. Brexit has so far not materially impacted volumes while the depreciation of the British pound gives some headwind on results,” says Niels Smedegaard, CEO.
| KEY FIGURES | |||||||
| DKK M | Q2 | Q2 | LTM | LTM | FY | ||
| Before special items | 2016 | 2015 | ∆ % | 2015-16 | 2014-15 | ∆ % | 2015 |
| Revenue | 3,553 | 3,432 | 4% | 13,757 | 12,983 | 6% | 13,473 |
| EBITDA | 699 | 551 | 27% | 2,365 | 1,719 | 38% | 2,041 |
| EBIT | 454 | 346 | 31% | 1,461 | 909 | 61% | 1,199 |
| Profit before tax | 443 | 319 | 39% | 1,373 | 756 | 82% | 1,079 |
Revenue increased by 7% in Q2 excluding revenue from bunker surcharges while reported revenue increased by 4% to DKK 3.6bn.
EBITDA before special items increased by 27% to DKK 699m following higher earnings in both the Shipping and Logistics divisions.
The route network carried 33% more freight volumes and 14% more passengers in Q2. The expanded ferry capacity in the Channel business unit supported 63% higher freight volumes and 23% more passengers. Freight volumes were up by 9% in all other parts of the network while passenger volumes were 3% lower to a large extent due to Easter falling in Q1 in 2016 compared to Q2 in 2015.
The Logistics Division achieved strong earnings growth through higher volumes and efficiency in both trailer operations and contract logistics.
A new share buyback of DKK 350m is launched today. In addition, the planned extraordinary dividend of DKK 2.00 per share to be paid in August has been raised by the Board of Directors to DKK 3.00 per share.
Outlook 2016
The full-year outlook range for 2016 has been raised following Q2 earnings above expectations and continued positive market trends on many routes in the network and several logistics markets.
The Group’s EBITDA before special items is now expected to increase to a range of
DKK 2,450-2,600m compared to a range of DKK 2,300-2,500m previously (2015:
DKK 2,041m). Full-year EBITDA currency impact is expected to be around DKK -75m.
The Group’s revenue is despite some headwind on currencies still expected to increase by around 6%, excluding revenue from bunker surcharges.
Read the Interim Report Q2 2016:
http://www.dfdsgroup.com/Investors/Reports/Documents/2016-Q2-Interim-UK.pdf
Read about "How we did it": www.dfds.com/q2-report-16
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
