DFDS (DFDS) Q2 2026 earnings summary

Executive summary

• Q2 2026 earnings improved in both Ferry and Logistics divisions, supported by strategic initiatives and strong cash conversion.

• Strategy review launched to clarify long-term vision and financial ambitions, with completion expected within six months; new CEO joined in July 2026.

• Safety remains a top priority, with a fatality reported in May 2026 and mixed trends in safety metrics.

Financial highlights

• Q2 revenue grew 10% year-over-year to DKK 8,584m, driven by fuel surcharges.

• EBITDA rose 35% to DKK 1,205m; EBIT increased 179% to DKK 454m.

• Adjusted free cash flow up 35% to DKK 728m in Q2.

• NIBD reduced by 13% year-over-year to DKK 14.0bn; equity ratio at 36%.

• Profit after tax increased DKK 255m to DKK 168m; EPS: DKK 3.05.

Outlook and guidance

• 2026 revenue growth outlook raised to 3-5%, mainly from fuel surcharges.

• EBIT outlook range increased to DKK 1.2-1.4bn.

• Adjusted free cash flow expectation increased to around DKK 500m.

• Capex guidance unchanged at around DKK 1.7bn, including a planned RoPax ferry purchase.