Key points:

• Chair Claus V. Hemmingsen to step down; EGM set for 8 September 2026 to elect two new board members
• Q2 2026 revenue up 10% to DKK 8.6 billion; EBIT nearly tripled to DKK 454 million
• Full-year 2026 guidance raised: EBIT now DKK 1.2-1.4 billion, revenue growth 3-5%
• July ferry volumes softer: freight down 3.2%, passengers down 1.6% year-on-year

The Extraordinary General Meeting (EGM) was called following a request from DFDS's largest shareholder, Lauritzen Fonden Holding ApS, under section 89 of the Danish Companies Act. It will propose the election of two new board members: Niels Smedegaard, DFDS chief executive from 2007 to 2019 and now chair of ISS A/S, Falck A/S and Nordic Ferry Infrastructure; and Jan Johan Kühl, managing partner of Nordic investment firm Polaris Management A/S. Kühl, nominated by Lauritzen Fonden in his own capacity, disclosed that an affiliated fund, Polaris Private Equity V K/S, holds 4.02% of DFDS shares and voting rights.

Citing the direction of DFDS's future strategy, Lauritzen Fonden proposed that Hemmingsen step down at this stage, with the Board to elect a new Chair after the EGM. Hemmingsen has served on the Board since March 2012, initially as Vice Chair and, from 2017, as Chair — a nine-year tenure in the top role, with his current term due to run until the 2027 Annual General Meeting. "It has been a privilege to serve DFDS for the past 14 years," he said, adding that he had confidence in the new management team's ability to shape the group's future strategy. Eight other shareholder- and employee-elected Board members are not up for election and will continue to serve. The EGM is expected to be held on Tuesday 8 September 2026, with formal notice and candidate details due in a further announcement later on 14 August.

DFDS moved up publication of its Q2 2026 interim report by one day in view of the board announcement. EBIT climbed from DKK 163 million a year earlier to DKK 454 million, while adjusted free cash flow reached DKK 728 million. Financial leverage (net debt to EBITDA) improved to 3.4 times, down from 4.2 times a year earlier, and CO2e emission intensity across the network rose 2.0%.

On the back of the improved performance, DFDS raised its 2026 guidance across all key metrics. Revenue growth is now expected at 3-5%, up from a previous outlook of roughly flat performance. EBIT guidance was lifted to DKK 1.2-1.4 billion, from DKK 1.0-1.4 billion previously, while adjusted free cash flow guidance rose to around DKK 500 million, from above DKK 250 million previously.

DFDS also confirmed that ferry volumes were soft across most corridors in July. Freight lane metres fell 3.2% to 3.5 million, with North Sea volumes just below 2025 as Continent-UK gains were offset by weaker Scandinavian traffic, and Mediterranean and Channel volumes also lower amid a broader market slowdown. Baltic Sea volumes held level with 2025, while Egypt route growth continued and Strait of Gibraltar freight volumes rose. Passenger numbers fell 1.6% to 752,000, largely on lower Strait of Gibraltar traffic. Over the last 12 months, freight volumes rose 0.3% to 41.8 million lane metres, or fell 0.5% adjusted for route changes, while passenger numbers fell 15.0% to 5.0 million, or 5.1% adjusted for route changes.

Hansen, who joined DFDS just over a month ago, said the group was well positioned in most of its markets but that financial performance remained short of where it should be, prompting the strategy review. "We have launched a strategy review to clarify our long-term vision, positioning, and priorities," he said, noting that the review, including financial ambitions, is due to be completed within six months. Both the Ferry and Logistics divisions improved Q2 earnings year-on-year, aided by six turning point actions introduced earlier in 2026.

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