DFDS goes up despite Brexit downturn
In Q3/2019, the Danish ferry operator DFDS revenue increased 2% to DKK 4.5 billion (EUR 600 million), while ebitda was on the level of 2018. For the first nine months of 2019, revenues rose 7% to DKK 12.6 billion (EUR 1.69 billion) and ebitda before special items improved 4% to DKK 2.9 billion (EUR 39 million).
The slowdown in trade between the UK and continental Europe continued through Q3/2019 and lowered freight volumes on the North Sea ferry routes on the Channel. The Channel freight market share was enlarged in Q3. Mediterranean’s revenue growth continued but earnings were held back by a rise in costs due to operational challenges.
A simplified route and port terminal structure was introduced in Mediterranean at the start of Q4/2019. Ferry Division’s Q3 revenue increased 2.2% to DKK 3.4 billion (EUR 45 million). The growth was mainly due to a new customer agreement in Mediterranean effective from yearend 2018.
The revenue of activities linked to the UK was decreased by the reduction of trade traffic between the UK and the rest of Europe. This was offset by income from an agreement with the British department for transport and the opening of a new route between Gothenburg and Zeebrugge. (fd)