“As outlined earlier this year, 2025 is a transitional year for DFDS where we lay the foundation for improving financial performance following the events of 2024. We have three focus areas that are challenged on earnings and key to improving performance. Today, we are expanding our transition toolbox to accelerate the transition to a higher level of financial performance with a Cost Reduction Programme targeting DKK 300 million of cost reductions in 2026,” comments DFDS’ CEO Torben Carlsen, and points out the focus areas:

“The Logistics Boost projects progressed in line with expectations in Q3 and further improvements are expected in Q4. The adaptation of the Mediterranean ferry network moved forward in Q3 as the new pricing model launched in September 2025 provided an initial yield recovery as planned. The third focus area, the Türkiye & Europe South (TES) turnaround, progressed on the other hand less than expected in Q3. The earnings trend is improving but slower than expected amid challenging market conditions.”

DFDS describes the actual network performance in Q3 as expected. The Q3 result for the network, excluding focus areas, was overall as expected and above 2024 when adjusted for route changes, especially the sale of Oslo-Copenhagen and the exit from Tarifa-Tanger Ville.

The North Sea freight ferry operations were stable and Baltic Sea had a good quarter with further improvements expected on the back of our new space charter agreement. Channel performed well overall in Q3 even though the Jersey routes incurred extra costs for mainly tonnage changes.

Strait of Gibraltar delivered on expectations in Q3 were DFDS will deploy two additional acquired ferries in 2026 pending regulatory approval.

Q3 was a turning point for Nordic and Continent logistics units and both are now considered better adapted to a low-growth market environment. The UK & Ireland logistics unit continued its stable performance in Q3.

DFDS’ EBIT outlook for 2025 is lowered to DKK 600-750 million from previously DKK 800-1,000 million driven mainly by uncertainties regarding the development in Q4 2025 for the Mediterranean ferry and logistics activities. In addition, the above outlook range will be reduced by the one-off programme cost of around DKK 100 million.

DFDS announces layoffs as part of cost reduction

“As outlined earlier this year, 2025 is a transitional year for DFDS where we focus on laying the foundation for improving financial performance following the events of 2024. To accelerate the transition to a higher level of financial performance, a Cost Reduction Programme targeting DKK 300 million of cost reductions is initiated today,” announce DFDS.

“We are initiating a cost reduction programme to accelerate our transition to a higher level of financial performance and to stay competitive in a changing market environment. Sadly, this means we have to reduce our workforce and part ways with valued and skilled colleagues,” says Torben Carlsen, CEO. 

The programme is expected to deliver cost reductions of around DKK 300 million in 2026 driven by primarily a reduction of approximately 400 mainly office-based positions as well as specific cost reduction initiatives across the organisation.

Programme implementation completion is expected towards the end of Q1 2026. A one-off cost of around DKK 100m for mostly redundancies is expected to be incurred in Q4 2025.

The 2025 EBIT outlook is lowered to DKK 600-750 million from previously DKK 800-1,000 million. The reduced outlook is to a large extent driven by uncertainties regarding the development in Q4 2025 for the Mediterranean ferry and logistics activities.

In addition, the above outlook range will be lowered by the one-off programme cost of around DKK 100 million.

The full-year 2025 Adjusted free cash flow is expected to be around DKK 0.9 billion down from previously DKK 1.0 billion.

© Shippax