Category

2022 Newsletter week 33

Aug 19
0

DFDS Q2: Strong growth

By | 2022 Newsletter week 33 | No Comments
  • Q2 EBITDA up 63% to DKK 1.46bn
  • Higher earnings across all business units
  • Passengers coming back faster than expected
  • Extraordinary dividend of DKK 4.00 per share confirmed
  • Full-year EBITDA outlook raised to DKK 4.4-4.8bn on 18 July 2022

Group revenue increased 67% to DKK 7.0bn driven by the ongoing recovery in the number of ferry passengers and yields as well as price increases of freight ferry services and logistics solutions to cover rising energy and other costs. In addition, revenue was increased by the acquisitions of HSF Logistics Group in September 2021 and ICT Logistics in January 2022.

EBITDA increased 63% to DKK 1,459m. The total freight EBITDA for ferry and logistics activities before special items increased 25% to DKK 1,204m driven by higher earnings in all business units.

The total Q2 EBITDA for passenger activities in the Channel, Baltic Sea, and Passenger business units increased to DKK 255m from DKK -70m in 2021 as earnings improved in all three business units on the back of the ongoing recovery in passenger travel. The Q2 passenger EBITDA was 15% below 2019, the latest pre-Covid-19 year.

Outlook 2022

On 18 July 2022, the outlook for EBITDA before special items was raised to DKK 4.4-4.8bn following a stronger than expected recovery in passenger earnings as well as higher freight ferry volumes and earnings (previously DKK 3.9-4.4bn, 2021: DKK 3.4bn). The revenue growth outlook has been updated to around 40% (previously around 35%) due to higher revenue from both passenger and freight activities. The outlook is detailed on page 10 in the full report.

Read the Q2 2022 interim report here:
Aug 19
0

DFDS July volume report: strong passenger recovery, drop in channel freight market

By | 2022 Newsletter week 33 | No Comments

Ferry – freight:

Total volumes in July 2022 were 6.2% below 2021. Activity was overall robust in freight markets except for parts of the Baltic Sea region and the Channel Dover Strait corridor.

North Sea volumes were overall below 2021 as UK routes were on level while routes between Sweden and the Continent were below 2021. The latter decrease was due to lower automotive and paper volumes as well as high activity for these segments last year in July. Volumes in the Mediterranean network continued to grow reflecting a high level of Turkish industrial production and exports.

Channel’s volumes were below 2021 following a decrease in total market volumes. Baltic Sea’s volumes were below 2021 due to the war in Ukraine. Volumes were mainly lower between Germany and Lithuania.

For the last twelve months 2022-21, the total transported freight lane metres decreased 0.6% to 43.6m from 43.9m in 2021-20.

Ferry – passenger:

The number of passengers increased fivefold to 639k equal to 90% of volumes in July 2019, the latest comparable month pre-Covid-19. Transport segments recovered faster than leisure segments. The number of cars equalled 92% of volumes in 2019.

For the last twelve months 2022-21, the total number of passengers was 2.5m compared to 0.8m in 2021-20 and 5.1m in 2019.

Aug 19
0

Polferries to charter a new Visentini

By | 2022 Newsletter week 33 | No Comments
  • President of Polska Żegluga Bałtycka (Polferries) Andrzej Madejski explained that a contract for chartering a ropax has been signed.
  • LOA 216m | 28M wide | 3,000 lane meters | 1,000 pax | 230 cabins | LNG-ready
  • To be built and owned by the Visentini Group, delivered in H2, 2024.
  • This charter is “to bridge the gap until the newbuilds are ready.”
  • Charter 10 years + option to buy after 6 years
Aug 19
0

Stockholm: Torghatten and Zeabuz enter into cooperation for an electric, autonomous city ferry in 2023

By | 2022 Newsletter week 33 | No Comments

Ferry company Torghatten and the autonomy supplier Zeabuz are launching a new ferry line in the middle of Stockholm from 2023. The ferry will be electric and self-propelled, and is a first step towards exploiting the enormous potential for waterborne mobility both in Stockholm and in other big cities.

  • A new, self-propelled passenger ferry will be operated in Stockholm from 2023
  • The line will run in central Stockholm, between Södermalm and Kungsholmen, with up to 120 trips per day
  • The ferry will take around 25 passengers and have an operator on board in the first phase
  • The ferry will be designed and built in Norway
  • Torghatten operates the service, while Zeabuz supplies the autonomous technology
  • Torghatten was founded in 1878 and is Zeabuz’s largest investor
Aug 19
0

DFDS: Niels Bach in memoriam

By | 2022 Newsletter week 33 | No Comments

Former DFDS group CEO Niels Bach passed away at the age of 89 years.

From 1985 to 1998 he headed and navigated DFDS through a very important time. Under his leadership the company managed to turn around from loss making, after a failed American Cruise ferry investment, to the beginning of the strong player in shipping and transport that we know of today.

Niels Bach also held many other top positions in the shipping industry, such as Chairman of the Danish Shipowners association, Port of Frederikshavn and Roblon A/S.

As board member he was very active in The Lauritzen holding, Port of Copenhagen, and Arkil Holding.

Niels Bach was a knight of the Danish order Dannebrog.

Aug 19
0

New E-Flexer ferry STENA ESTELLE takes up operation on 4 September

By | 2022 Newsletter week 33 | No Comments
  • Karlskrona-Gdynia route receives a boost in capacity and efficiency, with the two largest E-Flexer ferries being deployed in 2022. (STENA ESTELLE – STENA EBBA)
  • Currently STENA ESTELLE stays at Remontowa shipyard in Gdansk for the final adjustments, so it can take up its regular service on Gdynia-Karlskrona.
  • The first departure is planned for 4 September from Gdynia, and the new ship’s schedule is already available for bookings.
  • Length: 240 meters | Capacity: 3,600 lane metre | 1,200 passengers | 263 cabins.