Large Danish ferry and logistics company, DFDS has reported a 9% revenue rise last year to DKK 29.8 bill.
However, EBIT fell by 35% to DKK1.5 bill and the company had adjusted free cash flow of DKK1 bill.
The outlook for this year is a revenue growth of about 5%, an EBIT of around DKK1 bill and an adjusted free cash flow of also DKK1 bill on muted European growth.
From a growth perspective, there was good progress made on many fronts in 2024, the company said.
DFDS’ network was expanded to high-growth regions supported by near shoring through the acquisitions of FRS Iberia/ Maroc (Strait of Gibraltar ferry routes) and Ekol International Transport (Turkish transport and logistics company).
In addition, the company won a 20-year Jersey ferry services concession contract beginning in March, 2025.
However, from a financial perspective, 2024 fell short of expectations.
“While an EBIT of DKK1.5 bill for the full-year 2024 is unsatisfactory, the underlying strength of our network is intact, though we have specific challenges to resolve in 2025 before we can again deliver a satisfactory earnings level.
“2025 will be a transitional year with two paths to lay the foundation for improving financial performance,” CEO Torben Carlsen (pictured), said.
These two core paths are to continue to protect and grow the revenue and profits of the business units and to resolve three specific focus areas: Adapting Mediterranean ferry operations to the changed competitive environment and turning the newly acquired Ekol International Transport around to breakeven by year-end and to deliver on the logistics turnaround projects initiated in 2024.
