DFDS — Earnings Release 2015

Feb 12, 2016

AIMING HIGHER IN 2016

Copenhagen, 2016-02-12 07:48 CET (GLOBE NEWSWIRE) -- Announcement no. 02

Q4 EBITDA INCREASED BY 33% TO DKK 418M

RECORD EBITDA OF DKK 2,041M ACHIEVED IN 2015

---

DISTRIBUTION TO SHAREHOLDERS OF DKK 950M PLANNED FOR 2016

Q4 2015

-- Freight and passenger volumes continued to grow in most markets
-- Revenue increased by 9% to DKK 3.3bn
-- Profit before special items and tax increased by 137% to DKK 178m
-- ROIC increased to 13.7%

OUTLOOK 2016

-- Revenue expected to grow by 6%, excluding bunker surcharges
-- Expansion of shipping capacity to capture growth
-- EBITDA outlook of DKK 2.1-2.3bn

”2015 was a record year for DFDS. Our aim is now to raise performance further.
We have shipping capacity in place to benefit from continued volume growth in
our key European markets, and we remain firmly committed to improving customer
satisfaction and efficiency,” says Niels Smedegaard, CEO.

KEY FIGURES
DKK m Q4 Q4 ? % FY FY ?%
Before special items 2015 2014 2015 2014
Revenue 3,324 3,059 9% 13,473 12,779 5%
EBITDA 418 314 33% 2,041 1,433 42%
EBIT 201 113 77% 1,199 695 73%
Profit before tax 178 75 137% 1,079 571 89%

For the full-year 2015, reported revenue increased by 5% to DKK 13.5bn. Organic
revenue growth, adjusted for route closures and acquisitions, was 7% mainly
driven by 7% higher freight shipping volumes and 8% more passengers. In Q4,
organic revenue growth was 10%.

Full-year EBITDA before special items increased by 42% to DKK 2,041m and by 33%
to DKK 418m in Q4.

The return on invested capital (ROIC) before special items increased to 13.7%
in 2015, up from 8.0% in 2014.

The increase of earnings in 2015 was primarily driven by improved capacity
utilisation on the Channel, higher freight and passenger volumes, and more
efficient operations, including the installation of scrubbers.

Outlook 2016
Freight and passenger volumes are set to continue to grow in 2016 underpinned
by customer focus and expectations of growth in DFDS’ key European markets. The
Group’s revenue is expected to increase by around 6%, excluding revenue from
bunker surcharges. The Group’s EBITDA before special items is expected to
increase to a range of DKK 2,100-2,300m.

Increasing payout to shareholders
The Board of Directors plan to distribute a dividend in 2016 of DKK 5.00 per
share equal to DKK 300m. To align DFDS’ capital structure to the targeted
leverage, a share buyback programme of DKK 650m is launched today comprising a
programme of DKK 400m with completion on 24 February 2016 and a programme of
DKK 250m to be completed in the six months to 17 August 2016. Programme details
are included in a separate announcement that will be released later today.

     Contact
     Niels Smedegaard, CEO
     +45 3342 3400

     Torben Carlsen, CFO
     +45 3342 3201

     Søren Brøndholt Nielsen, IR
     +45 3342 3359