Danish-based logistics and ferry company DFDS reported a revenue increase of 22% to DKK4.4 bill during the third quarter of this year.
This increase was driven by higher freight activity in most business units.
However, the quarter’s passenger activity was overall below 2020 but picked up in the last month of 3Q21.
The total freight EBITDA for ferry and logistics before special items increased 6% to DKK795 mill driven mainly by strong growth in the Mediterranean business unit.
Total passenger EBITDA for passenger services in the Baltic Sea, Channel, and passenger business units fell by DKK43 mill or 45% to DKK53 mill.
Overall EBITDA of DKK =848 mill was on a par with 2020.
Supply chain bottlenecks became more widespread in Europe during 3Q21, including a high level of impact in the UK. This entailed extra operating costs for both freight ferry, port terminal and logistics activities.
In addition, freight volumes to the UK were for periods during the quarter capped, which lowered utilisation on ferry routes.
DFDS said that the outlook for freight activities remained overall positive, although the current slowdown in UK trade flows is expected to continue into 4Q21.
Passenger travel is expected to continue to pick up.
Revenue growth outlook is now expected at 23-25% (20-25%). The EBITDA outlook range before special items is now expected at DKK3.3-3.5 bill, compared to previously DKK3.2-3.6 bill (2020= DKK2.7 bill).