DFDS - Earnings Release 2022 | FinancialReports.eu

STRONG GROWTH

Q2 2022 INTERIM REPORT

ANNOUNCEMENT NO. 23/2022

STRONG GROWTH

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

Q2 2022

Logistics margins increased
Operating cash flow of DKK 1.6bn
Financial leverage improved to 3.3 (NIBD/EBITDA)

OUTLOOK 2022, updated

EBITDA range DKK 4.4-4.8bn (18 July 2022)
Revenue growth of around 40%

“We delivered an excellent Q2 result based on solid efforts across the organisation. We are on track to continue to grow as we adapt to both challenges and opportunities,” says Torben Carlsen, CEO.


KEY FIGURES

	2022	2021		2021-22	2020-21		2021
DKK m	Q2	Q2	Change, %	LTM	LTM	Change, %	FY

Revenue	7,046	4,213	67.2	22,658	15,340	47.7	17,869
EBITDA before special items	1,459	897	62.6	4,044	3,263	23.9	3,411
EBIT before special items	826	394	109.9	1,681	1,349	24.6	1,313
Profit before tax and special items	745	315	136.3	1,410	1,035	36.2	1,035
Profit before tax	760	328	132.1	1,459	878	66.2	1,069

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:

https://www.dfds.com/en/about/investors/reports-and-presentations/q2-report-2022

16 August 2022. Conference call today at 10.00am CET

Access code: 69612122# 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

About DFDS

DFDS provides ferry and transport services in and around Europe, generating annual revenues of around DKK 25bn.

To over 10,000 freight customers, we deliver high reliability through ferry & port terminal services and transport & logistics solutions.

For millions of passengers, we provide safe overnight and short sea ferry services.

Our 11,000 employees are located on ferries, terminals, distribution centres, and in offices across 20 countries. DFDS was founded in 1866, headquartered in Copenhagen, and listed on Nasdaq Copenhagen.

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

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