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Tuesday, 14 November 2017

DFDS A/S: INTERIM REPORT Q3 2017: ON TRACK FOR RECORD RESULT

DFDS A/S    

Published: 08:19 CET 14-11-2017 /GlobeNewswire /Source: DFDS A/S / : DFDS /ISIN: DK0060655629

DFDS A/S: INTERIM REPORT Q3 2017: ON TRACK FOR RECORD RESULT

Announcement no. 74

 

 

 

FREIGHT VOLUMES RISE IN LINE WITH EUROPE'S GROWTH

 

 

 

HIGH GROWTH IN NORTH SEA

 

 

 


STRONG EBITDA MAINTAINED

 

 

 

 

Q3 2017

· EBITDA of DKK 976m

· North Sea freight volumes up 8%

· Passenger volumes flat, yield impacted by
lower GBP

· ROIC of 18.1% (LTM) up from 17.4% in Q3 2016

 

OUTLOOK 2017

· Revenue growth of around 3%, previously around 4%

· EBITDA range of DKK 2,650-2,750m (2016: DKK 2,588m) narrowed
from DKK 2,600-2,800m

· Investments now forecast at DKK 1.6bn    (DKK 1.8bn)

· Distribution to shareholders of DKK 1.7bn

 

" We are pleased to confirm our outlook for a result in 2017 above last year's record driven by higher freight earnings. The wheels are turning faster in Europe and many of our freight customers plan to expand their activities in 2018. We aim to support their growth and enhance our services through new digital solutions," says Niels Smedegaard, CEO.

 

Revenue increased 3% in Q3 adjusted for non-comparable items. Reported revenue was up 3% to DKK 3.9bn.

 

EBITDA before special items was DKK 976m as the Shipping Division maintained a result on level with last year's record Q3 result and the Logistics Division achieved a higher result. EBITDA was DKK 980m adjusted for the Belfast reefer activity divested in November 2017.

 

The Shipping Division's EBITDA before special items was DKK 926m. Freight earnings increased overall while passenger earnings were impacted by the depreciation of the GBP and a subdued Norwegian market.

 

Trading between UK, continental Europe and Scandinavia continued to grow in Q3 as did trading in the Baltic region. Trading has remained robust into Q4.

 

The Logistics Division's EBITDA before special items increased 10% to DKK 66m driven mainly by activities based in Sweden and Belgium as well as acquisitions. Excluding the divested Belfast activity, the increase in EBITDA was 20%.

 

Distribution to shareholders

At the end of Q3, DKK 1.5bn had been distributed to shareholders, out of expected DKK 1.7bn for the full year, through dividends of DKK 556m and share buybacks of DKK 942m. In total, an increase of 39% compared to the same period in 2016.

 

Outlook 2017

The Group's revenue growth for 2017 is now expected to be around 3% compared to previously around 4%, excluding revenue from bunker surcharges.

 

The range for EBITDA before special items is narrowed to DKK 2,650-2,750m (2016:
DKK 2,588m) from previously DKK 2,600-2,800m.

 

See full section on Outlook on page 6 in the announcement.

 

 

Contact
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   
Gert Jakobsen, Communications, +45 33 42 32 97   

 

Read the Interim report Q3 2017:

https://goo.gl/sTWFpL

 

 

Read more about Q3 2017 here:

https://goo.gl/Xm3TN5

 

 

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.


UK_INTERIM REPORT Q3 2017



This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of Nasdaq Corporate Solutions clients. Source: DFDS A/S, DFDS House, Sundkrogsgade 11, København 2100, Danmark
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