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DFDS 2023 full-year result and January volumes released

FinanceThe Group’s full-year revenue was DKK 27,304m, an increase of 1.6% compared to 2022. EBITDA increased 1.2% to DKK 5,034m. For the ferry division alone, turnover reached DKK 16,493m (DKK 16,831m) with EBITDA DKK 3,907m (3,984m).

• EBITDA of DKK 5.0bn in line with Win23
• Revenue up 2% to DKK 27.3bn
• Ferry & Logistics network expanded
• Adjusted free cash flow of DKK 2.8bn
• Total dividend and share buyback of DKK 600m
• EBIT 2024 outlook of DKK 2.0-2.4bn (2023: DKK 2.3bn)

Q4 2023
• Challenging freight markets
• EBITDA reduced 5% to DKK 1.0bn
• Cash inflow of DKK 1.5bn from sale and leaseback of three ferries
• CO2 ferry emission intensity lowered 2%

Outlook 2024
• EBIT of DKK 2.0-2.4bn
• Revenue growth of 5-8%
• Adjusted free cash flow of around DKK 1.5bn

January volumes

Ferry – freight: Total volumes in January 2024 were 10.1% above 2023 and up 5.1% adjusted for the addition of Strait of Gibraltar routes and closure of the Calais-Tilbury route.

North Sea volumes were above 2023 partly due to the addition of further automotive volumes on one route. Mediterranean volumes were below 2023 following a slow start as volumes picked up through the month.

Channel volumes were above 2023 driven by the Dover Strait routes. Baltic Sea volumes were also above 2023 despite reduction of capacity between Estonia and Sweden compared to 2023.

For the last twelve months 2024-23, the total transported freight lane metres decreased 6.7% to 38.7m from 41.6m in 2023-22.

Ferry – passenger: The number of passengers in January 2024 were 87.4% above 2023 and up 2.7% adjusted for the addition of Strait of Gibraltar routes. The adjusted increase was driven by more Channel passengers while the number of passengers on other routes were below 2023. The number of cars were 58.4% above 2023 and on level with 2023 adjusted for Strait of Gibraltar.

For the last twelve months 2024-23, the total number of passengers increased 19.7% to 4.7m compared to 3.9m for 2023-22.

DFDS ferry volumes

 

 

 

 

 

 

 

 

 

January

 

Last twelve months

Freight

2022

2023

2024

Change

 

2022

2023

2024

Change

Lane metres, '000

3,326

3,030

3,336

10.1%

 

43,406

41,554

38,750

-6.7%

 

 

 

 

 

 

 

 

 

 

Passenger

2022

2023

2024

Change

 

2022

2023

2024

Change

Passengers, '000

54

173

324

87.4%

 

886

3,891

4,656

19.7%

Full report https://assets.ctfassets.net/mivicpf5zews/j1sJXvwSrzTSZvzdCPKZk/a4b39c7a733d7f7675324099e0c24484/DFDS_NO_05_09_02_2024_Q4_REPORT.pdf

© Shippax

Feb 09 2024


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