Copenhagen, 17 November 2010
Announcement no. 42/2010
DFDS' financial performance in Q3 2010 was as a whole better than expected, and
the pre-tax profit forecast for the full year - excluding special items related
to Norfolkline - has been upgraded to approximately DKK 375 m from the
previous DKK 325 m.
"We have gotten off to a really good start in the integration of DFDS and
Norfolkline, both in operational terms and culturally, and the potential that
we see in front of us meets our expectations. Performance-wise, we are very
satisfied with the third quarter, in which volume growth in the freight market,
particularly in the Baltic Sea, remained at a higher level than expected," says
CEO Niels Smedegaard.
DFDS key figures
Q3 Q3 Q3 Q3
DKK mill. 2009 2010 2009 2010
Revenue 1,820 3,359 4,899 6,921
EBITDA before special items 317 539 628 989
Profit befor tax and special items 144 288 78 387
Special items n.a. -63 n.a. -84
Profit before tax 144 225 78 303
Results Q3:
• Revenue increased by 84.6% to DKK 3,359 m
• Operating profit (EBITDA) before special items increased by 70.1% til DKK 539
m
• Profit before tax and special items increased by 100% to DKK 288 m
Trends in markets and activities:
• Volumes continued to grow in the North European freight and logistics market
• Solid growth in passenger and freight activities in the Baltic Sea
• North Sea impacted by imbalances in freight flows
• Passenger markets in the route network were generally stable and growing
• Activities in the Irish Sea remain impacted by overcapacity
• Freight volumes and rates in the English Channel negatively impacted by
increased price competition from Eurotunnel
Profit forecast for 2010:
• For the full year 2010, a profit before special items and tax of around DKK
375 m is expected. The previous pre-tax profit forecast was approximately DKK
325 m
• Special cost items are expected to amount to DKK 125 m against previously DKK
150 m
