DFDS

Earnings Release • Feb 18, 2025

DFDS TURKISH LOGISTICS TURNAROUND ON TRACK

DFDS TURKISH LOGISTICS TURNAROUND ON TRACK

INVESTOR NEWS no. 07 - 18 February 2025

* Progress in line with breakeven target for year-end 2025

* Organisational restructuring impacts 125 office employees

* First results from cross-selling leveraging DFDS' European network

* Rightsizing of equipment fleet ongoing

The integration and financial turnaround of Ekol International Transport

acquired in mid-November 2024 is progressing in line with the short-term target

of achieving a breakeven result by year-end 2025.

"Our newly acquired Turkish transport company plays an important role in

supporting Türkiye's growth as a manufacturing hub and European trading partner.

The company's financial performance is however in need of a comprehensive

turnaround requiring tough decisions. We are therefore re-organising the company

and will unfortunately have to part ways with 125 valued and skilled office

employees," says Torben Carlsen, CEO of DFDS.

The turnaround scope includes organisational, commercial, and operational

initiatives.

Organisational restructuring

Ekol International Transport now operates as a new business unit in the

Logistics Division: Türkiye & Europe South, with two country organisations

transferred to the Continent business unit.

The head office organisation in Istanbul has been reviewed and adapted to the

current financial and market conditions. This has resulted in a restructuring

that lays off 125 office employees.

The operating model governing the transport corridors between Türkiye and the

European country organisations have been streamlined to enhance focus on flow

balances, asset utilisation, and volume growth.

Commercial

The commercial workstreams are focused on optimising value propositions to both

top-tier and long-tail customers. Cross-selling initiatives have generated the

first new contracts, validating the potential for pan-European solutions.

Operating efficiency

Opportunities to improve operating efficiency are identified and being

implemented. Focus is initially on rightsizing the equipment fleet

(trucks/trailers/containers) and improving operating efficiency.

The rightsizing includes sales of idle equipment and increased deployment of

haulage subcontractors. So far, 278 trailers have been sold and several hundred

additional units, including trucks, are planned for disposal or subcontracting

in 2025.

Operating efficiency improvements are initially focused on enhancing the service

stability of intermodal solutions, i.e. combinations of road, ferry, and rail

transport, to improve both cost efficiency and customer service levels.

Contact

Torben Carlsen, CEO +45 33 42 32 01

Karen Boesen, CFO +45 20 58 58 40

Søren Brøndholt Nielsen, IR +45 33 42 33 59

Dennis Kjærsgaard, Media +45 42 30 38 47

About DFDS

We operate a transport network in and around Europe with an annual revenue of

DKK 30bn and 14,000 full-time employees.

We move goods in trailers by ferry, road & rail, and we offer complementary and

related transport and logistics solutions.

We also move car and foot passengers on short sea and overnight ferry routes.

DFDS was founded in 1866 and headquartered and listed in Copenhagen.

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act