DFDS is coming back
DFDS has reported its results for Q1/2021. While total revenues dropped by 1%, freight revenues increased by 5% to DKK 3.7 billion (EUR 500 million). In consequence, freight ebitda before special items increased by 25% to DKK 836 million (EUR 112 million). Passenger business recorded a loss.
The improved result for freight ferry and logistics activities was mainly driven by the Mediterranean business unit and activities linked to the Brexit transition. Total Q1/2021 logistics volumes increased 3.6% compared to 2020. The company also reported high levels of activity on its new Irish route.
The Brexit transition led to a considerable drop in volumes at the beginning of the year. This problem was tackled by the launch of customs clearance services for UK imports and exports in all business units during this quarter.
Revenues are still expected to grow by 20 to 25% in 2021. The main growth drivers are the addition of HSF Logistics Group and the opening of a new route between Ireland and France. (cd)