Denmark · Delayed Price · Currency is DKK DFDS A/S Earnings Call Transcripts
Fiscal Year 2026
-
Q2 saw strong year-on-year improvements in both ferry and logistics, with revenue up 10% and EBIT more than doubling, despite a DKK 53 million one-off litigation charge. 2026 guidance was raised for revenue, EBIT, and free cash flow, while strategic and operational improvements continue.
-
Q1 2026 showed a strong turnaround with EBIT up DKK 150 million year-over-year, driven by Ferry and Logistics improvements. Full-year EBIT guidance was raised to DKK 1.0–1.4 billion, with leverage ratio reduced to 3.9 and free cash flow guidance improved.
Fiscal Year 2025
-
2025 was a challenging year with margin pressure and lower earnings, but Q4 marked a turnaround with improved results in key segments. 2026 guidance anticipates a significant EBIT increase, driven by cost savings, pricing, and operational improvements, with positive cash flow expected.
-
Q3 saw revenue growth from acquisitions but lower EBITDA due to ferry division challenges, especially in the Mediterranean. A DKK 300 million cost reduction program was launched, and 2025 EBIT guidance was lowered amid competitive and operational uncertainties.
-
Q2 results were weighed down by Mediterranean ferry challenges, with stable performance elsewhere and strong logistics boost project progress. EBIT guidance was lowered, CapEx reduced, and free cash flow guidance maintained, as recovery actions and new pricing models are implemented.
-
Q1 2025 saw 8% revenue growth driven by acquisitions, but underlying performance was mixed due to Mediterranean and logistics challenges. Turnaround actions are underway, with improved trends expected in H2, and full-year guidance remains unchanged despite ongoing market and geopolitical risks.
Fiscal Year 2024
-
2024 saw network expansion and organic growth, but earnings were depressed by Mediterranean competition, Ekol losses, and macro headwinds. 2025 is set as a transition year with a focus on recovery, cost control, and working capital improvements, targeting DKK 1 billion EBIT and free cash flow.
-
Revenue grew 9% in 2024, but EBIT is expected to drop to DKK 1 billion in 2025 due to Mediterranean competition and Ekol integration. Previous long-term financial targets are withdrawn, with a strong focus on cash flow, asset management, and adapting to new market realities.
-
The acquisition expands logistics operations into the Türkiye-Europe corridor, aiming to leverage synergies and recover profitability by 2027. Integration will focus on commercial recovery, cost optimization, and network consolidation, with significant IT investment and a clear plan to address operational challenges.
-
Q3 2024 saw 4% organic revenue growth but an 11% EBIT decline due to margin pressures and competition, especially in the Mediterranean and logistics. 2024 EBIT and cash flow guidance were lowered, with recovery hinging on Mediterranean performance and ongoing cost controls.
-
Q2 saw revenue growth but significant EBIT and EBITDA declines due to market headwinds and underperformance in logistics, especially the Nordic cold chain. 2024 EBIT guidance was lowered, but the adjusted free cash flow target remains unchanged at DKK 1.5 billion.
Fiscal Year 2023
Fiscal Year 2022
Fiscal Year 2021
Fiscal Year 2020
Fiscal Year 2019
-
Q3 revenue rose 2% and EBITDA held level with 2018 despite U.K. weakness and Turkish operational challenges. FY EBITDA guidance was narrowed without changing its midpoint, while investment guidance fell DKK 400m.
-
Q2 revenue and EBITDA rose, but U.K. freight weakness and Brexit uncertainty drove lower full-year revenue and EBITDA guidance. Mediterranean expansion and passenger earnings partly offset the pressure.
-
Q1 revenue and EBITDA grew, led by North Sea and Mediterranean expansion, while Easter, Baltic costs and Turkey’s weak trade weighed on performance. 2019 EBITDA guidance was unchanged, although investment plans increased for the new Gothenburg–Zeebrugge route.
Fiscal Year 2018
-
FY 2018 revenue rose 10% and EBITDA 11% to DKK 3.0bn, led by U.N. Ro-Ro. 2019 guidance targets 10%-12% revenue growth and DKK 3.8bn-DKK 4.0bn EBITDA, despite Brexit and market uncertainty.
-
Q3 EBITDA reached a record DKK 1.045bn, but Brexit-related volume softness, currency losses and one-off costs pressured earnings. FY EBITDA guidance narrowed to DKK 3.0bn–3.1bn as cash flow strengthened and leverage declined.
-
Q2 revenue and EBITDA grew, with U.N. Ro-Ro contributing from June. FY EBITDA guidance was maintained despite bunker costs and Turkish lira risks; investments were lowered to DKK 5.0bn.
-
Q1 EBITDA rose 10% to a record DKK 453m, while revenue growth guidance increased to 4% excluding U.N. Ro-Ro. Acquisition-related financing paused dividends and buybacks; FY EBITDA guidance is DKK 3.0bn–3.2bn including U.N. Ro-Ro.
-
The acquisition adds Turkey’s leading freight ferry operator, expands European routes and is expected to be earnings-accretive from year one. Plans target EUR 30 million in EBITDA improvement by 2021, with June 2018 closing expected subject to approvals.
Fiscal Year 2017
-
FY2017 EBITDA hit a record DKK 2.702bn, up 4%, with ROIC at 19%. FY2018 EBITDA guidance is DKK 2.65bn–2.85bn, while digital investment, higher vessel costs and competitive pressure weigh on the outlook.
-
Q3 EBITDA edged above the prior-year record, with 3% revenue growth and stronger North Sea freight. FY EBITDA guidance narrowed to DKK 2.65bn–2.75bn; passenger weakness and elevated digital spending remained offsets.
-
Q2 EBITDA rose 6% to a record DKK 738m, led by North Sea growth and improving logistics, while Channel results remained pressured. FY EBITDA guidance was maintained at DKK 2.6bn–2.8bn, with planned distributions raised to nearly DKK 1.7bn.