DFDS — M&A Activity 2014

Jul 1, 2014

Copenhagen, 2014-07-01 13:30 CEST (GLOBE NEWSWIRE) -- Announcement no. 45

As part of DFDS’ strategy to develop the Group’s logistics network and benefit
from increased scale, DFDS has today acquired 100% of the share capital of
Quayside Group headquartered in Grimsby, England.

“Quayside is a company we have known and respected for a number of years and we
are delighted to welcome them into the DFDS Group,” says Eddie Green, Executive
Vice President, DFDS Logistics.

Quayside Group
Since 1997, Quayside Group has provided temperature controlled logistics
services to various producers and suppliers of fresh and frozen food products.
In 2012/2013, Quayside Group recorded revenues of GBP 23.5m (DKK 212m). The
company has 260 employees.

In Grimsby, Quayside Group operates the company’s two primary warehouses, one
of which is owned. Distribution services are carried out by own drivers and an
owned fleet of around 200 tractor units and trailers.

Strategic fit
The acquisition of Quayside Group adds temperature controlled warehousing and
distribution capabilities in England to DFDS’ similar existing activities in
Scotland. The scope of DFDS’ customer services will be considerably improved by
the merged activities and also offer opportunities to gain synergies.

The acquisition is expected to support DFDS’ goal of a 10% return on invested
capital.

Impact on the DFDS Group’s outlook for 2014
Following the acquisition, the expected revenue growth versus 2013 for the DFDS
Group is increased to around 7% from previously 6%. Quayside Group is
consolidated in DFDS’ consolidated financial statements from 1 July 2014 where
control is obtained.

The expectation for the DFDS Group’s EBITDA before special items is unchanged
DKK 1,250-1,400m.

Expected investments for the DFDS Group in 2014 are increased to DKK 1,200m
from previously DKK 1,100m.

Contact persons
Niels Smedegaard, CEO
+45 33 42 34 00

Torben Carlsen, CFO
+45 33 42 32 01

Søren Brøndholt Nielsen, IR
+45 33 42 33 59