DFDS (DFDS) Q4 2024 TU earnings summary

2024 financial performance

• Revenue increased by 9% to DKK 29.8 billion, aligning with the 8-10% growth outlook.

• EBIT for 2024 reached DKK 1.5 billion, at the low end of the guidance range of DKK 1.5-1.7 billion.

• Adjusted free cash flow was DKK 1.0 billion, slightly below the DKK 1.2 billion outlook.

2025 outlook and guidance

• 2025 EBIT is expected around DKK 1.0 billion, reflecting negative impacts from Mediterranean competition and Türkiye & Europe South (Ekol) integration.

• Previous mid- and long-term financial ambitions for 2026/27, including ROIC and free cash flow targets, have been withdrawn.

• Organic growth is expected to continue, with a focus on unlocking value from the expanded network.

• Outlook assumptions will be detailed further in the annual report.

Key operational focus areas for 2025

• Adapting Mediterranean ferry business to increased competition is a priority.

• Türkiye & Europe South (Ekol) business turnaround is targeted, aiming for break-even by end-2025.

• Continued progress on logistics turnarounds with established plans for improvement.

• Deleveraging and reviewing non-core assets are also 2025 priorities.