DFDS sees light at the end of the tunnel

2020-08-29T07:46:15+00:00 August 29th, 2020|Finance|

Ro-ro and ropax ferry operator DFDS has reported that there was a rebound in freight volumes at the end of the second quarter of this year and into July.

There was also an encouraging pickup in passenger demand for the re-opened ropax dates.

For 2Q20, DFDS reported a drop in revenue of 34% to DKK2.8 bill and EBITDA down by 49% to DKK507 mill.

Lack of passenger activities caused most of this downfall, the company said.

The outlook for this year is an EBITDA of between DKK2.2-2.5 bill, compared with DKK3.6 bill for 2019.

”Our outlook is improved. Freight volumes have picked up and the demand for ferry travel is encouraging on our re-opened passenger routes. It is uncertain whether the pickup in demand is sustainable and we therefore remain alert,” said CEO Torben Carlsen (pictured).

The travel restrictions imposed to limit the spread of Covid-19 created an exceptional negative set of circumstances for the passenger activities that led to a drop in their EBITDA of DKK366 mill, compared to 2019.

Freight ferry and logistics activities performed better than expected in 2Q20 with a decrease in EBITDA of DKK117 mill, including non-allocated items, with Logistics only decreasing by DKK7 mill.