Tag: April volume | Ferry Shipping News

DFDS Q1 2023: ahead of expectations

• Revenue up 9% to DKK 6.3bn driven by the continued recovery in passenger numbers and spending, price increases for freight services to cover rising energy and other costs, and a positive impact from acquisitions.
• EBITDA up 23% to DKK 1.0bn.
• EBITDA for the freight ferry activities increased 4% to DKK 717m.
• EBITDA for the Logistics Division increased 38% to DKK 299m.
• EBITDA for passenger activities across the route network increased DKK 100m to DKK 9m which was on level with Q1 2019, the latest pre-Covid-19 year.
• Freight volumes between the UK and Continent/Scandinavia declined in Q1, especially on the English Channel, while domestic transport volumes, also in the UK, were more robust. The war in Ukraine lowered freight volumes in the Baltic region compared to 2022.
• For the last twelve months (LTM) 2023-22, EBITDA increased 4% to DKK 5,160m.
• The outlook for EBITDA of DKK 4.5-5.0bn is unchanged. Revenue is overall still expected to remain at the same level as 2022. The investment outlook of around DKK 1.6bn is also unchanged, excluding acquisitions.

Read the Q1 2023 interim report here

Ferry – freight:

• Total volumes in April 2023 were 18.7% below 2022.
• Volumes were 7.7% below 2022 adjusted for Channel that is impacted by a general market decrease and overcapacity.
• North Sea volumes were below last year due to lower volumes between mainly the Netherlands and the UK following a continued drop in Continental vegetable and fruit export to the UK.
• Mediterranean volumes were just below last year adjusted for route changes due to congestion in the port of Mersin following the earthquake in February 2023 and some slowdown in activity ahead of the upcoming election.
• Channel volumes were significantly below last year due to a continued market decrease, suspension of sailings by P&O Ferries throughout April 2022, and a negative impact from the entry of a third ferry operator, Irish Ferries.
• Baltic Sea volumes remained negatively impacted by the war in Ukraine.
• For the last twelve months 2023-22, the total transported freight lane metres decreased 8.0% to 40.1m from 43.6m in 2022-21. The decrease was 3.5% adjusted for Channel.

Ferry – passenger:

• The number of passengers continued to recover and increased 22.3% to 406k equal to 84% of volumes in April 2019, the latest comparable month pre-Covid-19.
• The number of cars equalled 79% of volumes in 2019.
• For the last twelve months 2023-22, the total number of passengers was 4.2m compared to 1.4m in 2022-21 and 5.1m in 2019.