Skip to main content

DFDS: Q1-3 2021 Interim Report

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

Company announcement no. 35/2021

 

SOLID GROWTH IN DEMAND

  • High freight revenue growth
  • Supply chain bottlenecks entailed extra costs in Q3
  • Q3 EBITDA maintained on level with 2020

 

Q3 2021

  • Revenue up 22% to DKK 4.4bn
  • Strong growth in Mediterranean
  • Slowdown in UK freight flows
  • Passenger numbers still held back by travel restrictions

 

OUTLOOK 2021

  • EBITDA range now expected at DKK 3.3-3.5bn (DKK 3.2-3.6bn)
  • Revenue growth now expected at 23-25% (20-25%)

 

“Meeting our customers’ needs came at a cost in a busy Q3. Looking ahead, we continue on our growth path, supported by our recent acquisitions of HSF Logistics Group and ICT Logistics,” says Torben Carlsen, CEO.

 

KEY FIGURES       
 20212020 2020-212019-20 2020
DKK mQ3Q3Change, %LTMLTMChange, %FY
        
Revenue4,4063,59822.516,14814,21813.613,971
EBITDA before special items848 846 0.3 3,265 2,734 19.42,732
EBIT before special items332388-14.31,29482656.7858
Profit before tax and special items263324-18.897457070.7583
Profit before tax291 262 10.9 907 496 83.0466

Revenue increased 22% to DKK 4.4bn driven by higher freight activity in most business units. Q3 passenger activity was overall below 2020 but picked up in the last month of the quarter.

The total freight EBITDA for ferry and logistics before special items increased 6% to DKK 795m driven mainly by strong growth in the Mediterranean business unit. The total passenger EBITDA for passenger services in the Baltic Sea, Channel, and Passenger business units decreased DKK 43m or 45% to DKK 53m. Total EBITDA of DKK 848m was on level with 2020.

Supply chain bottlenecks became more widespread in Europe during Q3, including a high level of impact in the UK. This entailed extra operating costs for both freight ferry, port terminal and logistics activities. In addition, freight volumes to the UK were for periods in Q3 capped which lowered utilisation on ferry routes.

Outlook 2021
The outlook for freight activities remains overall positive, although the current slowdown in UK trade flows is expected to continue in Q4 2021. Passenger travel is expected to continue to pick up. Revenue growth outlook is now expected at 23-25% (20-25%). The EBITDA outlook range before special items is now expected at

DKK 3.3-3.5bn compared to previously DKK 3.2-3.6bn (2020: DKK 2.7bn).

The outlook is detailed on page 10 in the full report.

Read the Q3 2021 Interim Report here:

https://www.dfds.com/en/about/investors/reports-and-presentations/q3-report-2021

17 November 2021. Conference call today at 10.00am CET

Access code: 27844331# Phone numbers to the call: DK +45 35445577, US +1 631 913 1422, UK +44 333 300 0804

 

Contact

Torben Carlsen, CEO +45 33 42 32 01

Karina Deacon, CFO +45 33 42 33 42

Søren Brøndholt Nielsen, IR +45 33 42 33 59

Nicole Seroff, Communications: +45 31 40 34 46

 

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

 

 

Attachment

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.