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DFDS (DFDS) investor relations material
DFDS Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 2025 revenue grew 3% to DKK 7.8bn, but organic growth was -2% due to Mediterranean headwinds and competitive pressures.
EBIT dropped 69% year-over-year to DKK 163m, with a net loss of DKK 87m and EPS at DKK -1.67.
Initiatives were launched to accelerate progress in the Mediterranean, including a new pricing model and capacity adjustments.
Strong H1 cash flow was achieved, supported by targeted initiatives and working capital discipline, though adjusted free cash flow was down 26% to DKK 538m.
CO2 ferry emission intensity from own fleet improved by 4.1%.
Financial highlights
Group Q2 EBITDA fell 28% to DKK 893m; EBITA down 61% to DKK 225m.
Group revenue grew 3% year-over-year to DKK 7,810m, with organic growth at -2.3%.
Passenger organic revenue rose 5.3%, while freight ferry revenue fell 3.8%.
Acquisitions contributed a net DKK 435m to revenue.
Net interest-bearing debt reduced by 6% to DKK 16.1bn since year-end 2024.
Outlook and guidance
2025 EBIT guidance lowered to DKK 0.8-1.0bn (from around DKK 1.0bn); revenue growth expected at ~5%.
Ferry Division EBIT expected at DKK 0.875-1.0bn; Logistics Division EBIT at DKK 0.125-0.2bn.
Capex for 2025 expected at DKK 1.4bn; adjusted free cash flow outlook unchanged at DKK 1.0bn.
Operating capex reduced to around DKK 1.4bn; adjusted free cash flow target unchanged at DKK 1.0bn.
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