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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

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.

Jul 29
0

DFDS Expands Irish Logistics Network

By | 2022 Newsletter week 30 | No Comments

DFDS has acquired 100% of the share capital of Lucey Transport Logistics Ltd based in Dublin, Ireland.

Lucey Transport Logistics is an Irish provider of transport and logistics solutions, primarily to consumer goods companies. Door-door transports are provided for full- and part-loads as well as distribution services. The logistics solutions include warehousing, inventory management, bonded storage, and product rework and labelling.

Solutions are supported by a distribution centre in Dublin and regional warehousing facilities in key locations across Ireland and Northern Ireland totalling 38k m2. Operations also include 70 trucks and more than 400 trailers. Lucey Transport Logistics was founded in 1932 and has 240 employees. Annual revenue was DKK 240m (EUR 32m) in 2021.

Lucey Transport Logistics adds domestic Irish transport and logistics capabilities that complement DFDS’ existing activities in the region. These include transport and logistics solutions based in Ireland and Northern Ireland, door-door container and trailer solutions between Ireland, the Continent, and the Nordics, as well as a freight ferry route between Ireland and France (Rosslare-Dunkirk).

Jul 21
0

DFDS’ 2022 Outlook Raised After Strong Q2

By | 2022 Newsletter week 29 | No Comments
  • DFDS’ outlook for 2022 has improved following a strong recovery in passenger earnings in Q2. In addition, freight ferry volumes and earnings were higher than expected.
  • EBITDA outlook raised to DKK 4.4-4.8bn from DKK 3.9-4.4bn for 2022
  • Revenue growth outlook raised to around 35% from around 30%
  • Demand for freight and passenger services is expected to remain robust in the next couple of months. This demand may, however, be dampened later in 2022 by a slowdown driven by developments in the macro environment and by supply chain constraints.
  • Uncertainty remains elevated and significant changes to the outlook may therefore still occur.
Jul 07
0

DFDS appoints new Head of Ferry Division

By | 2022 Newsletter week 27 | No Comments

Mathieu Girardin appointed Head of Ferry Division and succeeds Peder Gellert Pedersen who retires on 1 August 2022.

Mathieu Girardin, a French national born in 1982, is currently Senior Vice President at CMA CGM, one of the world’s largest shipping and logistics companies, for Short Sea Lines Europe and Containerships. He has held senior management positions at CMA CGM since 2013, including both operational and corporate responsibilities.

Mathieu Girardin graduated from ESCP Europe (Master’s in Management) in 2005 and from INSEAD (Executive MBA) in 2018.

Mathieu Girardin succeeds Peder Gellert Pedersen, Head of Ferry Division and EVP, who will retire after 28 years with DFDS.

“Peder Gellert Pedersen has been instrumental in developing DFDS into one of Europe’s leading ferry companies. It has been a great pleasure and privilege for me to work alongside Peder since 2009,” says Torben Carlsen, CEO of DFDS.

Jun 23
1

Roro service Zeebrugge – Scotland could start in 2023

By | 2022 Newsletter week 25 | No Comments

“Ptarmigan Shipping and DFDS have signed an agreement with the intention to further investigate the possibility for a new ferry route between Rosyth and Zeebrugge with a target date being early 2023 for freight.” (Statement release)

Ptarmigan Shipping Ltd is based in Glasgow and has industry expert Mr Derek Sloan as director (former Norfolkline, Norse Merchant…).

The photo is 20 years old, when Superfast Ferries had a ropax service between Zeebrugge and Rosyth.

Jun 16
0

DFDS Monthly Volume Report: Freight Up 11%, Passenger Recovery on Track

By | 2022 Newsletter week 24 | No Comments

Ferry – freight: Total volumes in May 2022 were 10.8% above 2021 driven by higher volumes in all business units, except Baltic Sea.

Channel’s volumes were elevated by P&O Ferries’ suspension of sailings for most of the month compared to last year.

North Sea volumes were above 2021 as higher activity on most UK routes offset lower industrial flows between Sweden and the Continent, partly due to supply chain bottlenecks in the automotive sector.

Volumes in the Mediterranean network continued to grow supported by higher capacity. The war in Ukraine lowered Baltic Sea volumes between mainly Germany and Lithuania compared to 2021.

For the last twelve months 2022-21, the total transported freight lane metres increased 1.5% to 43.8m from 43.1m in 2021-20.

Ferry – passenger: The number of passengers increased eightfold to 296k equal to 68% of volumes in May 2019, the latest comparable month pre-Covid-19. Transport segments are recovering faster than leisure segments as the number of cars was at 89% compared to 2019. Channel’s volumes were elevated by P&O Ferries’ suspension of sailings for most of the month.

For the last twelve months 2022-21, the total number of passengers was 1.6m compared to 1.0m in 2021-20 and 5.1m in 2019, the latter being the latest pre-Covid-19 year.

Jun 09
0

EKOL of Turkey rumoured to be selling its road transport business to DFDS

By | 2022 Newsletter week 23 | No Comments

DFDS is going to take over the international road transport division of EKOL, one of Turkey’s leading logistics companies according to the news source Dünya.

The parties already shook hands in principle. After the official signatures and competition approval, EKOL International Road Transport company, which accounts for approximately 60 percent of the group’s turnover, will join DFDS.

EKOL is among the leading logistics providers in Europe with its 52 weekly block trains and 7,500 vehicles that allow intermodal transportation.

The Turkish logistics group some years ago already sold to DFDS the maritime transport business line operating from Turkey to the port of Trieste.

Established in 1990, EKOL is an integrated logistics company operating in the fields of transportation, contract logistics, foreign trade, customs and supply chain management. It has offices in 13 countries including Turkey, Germany, Italy, Greece, France, Ukraine, Romania, Hungary, Spain, Poland, Czechia, Slovenia and Sweden.

May 27
1

CLdN and DFDS to cease the slot charter agreement

By | 2022 Newsletter week 21 | No Comments

CLdN and DFDS have agreed to cease the slot charter agreement to allow both parties “to focus on their customers’ needs.”

Going forward, CLdN will operate the full capacity of the additional sailings introduced in January this year on the direct route Rozenburg vv Killinghome.

Terminating the call at Vlaardingen will allow for a later departure from Rozenburg, answering customers’ requests for just in time deliveries for example refrigerated cargoes, in addition to faster turnaround of equipment.