Quarterly Report for Q1 2008

The interim report shows that:

• Revenue rose by 3% to DKK 1.9 billion
  
• Operating profit before depreciation (EBITDA) is DKK 140 million
  
• Pre-tax profit is DKK -58 million, compared to DKK -13 million in 2007
  
• Volumes at the same level as the previous year
  
• ncreased charter hire costs affecting Ro-Ro Shipping’s earnings
  
• The majority of the rise in bunker costs of DKK 100 million is covered by  the oil surcharge
  
• Higher cost level affecting the profits of passenger activities
  Significant reduction in net interest-bearing debt by 12% to DKK 4.0 billion
  
• The full year profit expectation is still a pre-tax profit of approximately DKK 500 million but the expectation is subject to greater uncertainty than normal

 Read the full report

Contacts: Niels Smedegaard, CEO, +45 33 42 34 00 Christian Merrild, CFO, +45 33 42 32 01