Ferry – freight: Total volumes in December 2025 of 3.0m lane metres were 1.2% above 2024 and 0.4% lower adjusted for route changes. The full-year growth rates were -0.1% and -1.8%, respectively.

North Sea volumes were above 2024 driven by higher volumes on most routes. Mediterranean volumes were as expected below 2024 due to capacity reductions.

Channel volumes were above 2024 driven by the new Jersey volumes as the total Dover Strait volumes were on level with 2024. Baltic Sea volumes were just below 2024 while Strait of Gibraltar volumes were above 2024.

In 2025, the total transported freight lane metres decreased 0.1% to 41.5m from 41.5m in 2024 and decreased 1.8% adjusted for route changes.

Ferry – passenger: The number of passengers in December 2025 was adjusted for route changes* down 2.7% to 329k vs 2024 and the adjusted full-year growth rate was -4.4%. The December decrease was mainly due to lower volumes on Strait of Gibraltar. The number of cars in December was on level with 2024 adjusted for route changes.

In 2025, the total number of passengers decreased 21.1% to 5.2m compared to 6.6m in 2024. The decrease was 4.4% adjusted for route changes*.

*Adjusted for sale of Oslo-Frederikshavn-Copenhagen end October 2024, exit from Tarifa-Tanger Ville early May 2025, and addition of Jersey routes from end March 2025.