DFDS (DFDS) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue rose 10% year-over-year to DKK 8.6bn, with EBIT up DKK 291m to DKK 454m and adjusted free cash flow up 35% to DKK 728m.

• Both Ferry and Logistics divisions improved earnings, supported by progress on six strategic actions and strong cash conversion.

• Financial leverage improved to 3.4x NIBD/EBITDA, and profit after tax increased DKK 255m to DKK 168m.

• A new CEO joined in July 2026, and a strategy review is underway to clarify long-term vision and priorities.

Financial highlights

• Q2 revenue: DKK 8,584m (up 9.9% year-over-year); Q2 EBITDA: DKK 1,205m (up 34.9%); Q2 EBIT: DKK 454m (up 179%).

• Q2 adjusted free cash flow: DKK 728m (up 35%); Q2 profit after tax: DKK 168m (up from DKK -87m); EPS: DKK 3.05 (up from DKK -1.67).

• NIBD reduced 13% to DKK 14.0bn since Q2 2025; equity ratio at 36%.

Outlook and guidance

• 2026 revenue growth outlook raised to 3-5% (from flat); EBIT outlook range increased to DKK 1.2-1.4bn (from DKK 1.0-1.4bn).

• Adjusted free cash flow expected around DKK 500m (previously above DKK 250m).

• Capex for 2026 expected at DKK 1.7bn, including a planned RoPax ferry purchase.