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AIMING HIGHER IN 2016

12 February, 2016 Copenhagen
DFDS announces great Q4 results with a record EBITDA of DKK 2,041m, achieved in 2015

 

Q4 EBITDA INCREASED BY 33% TO DKK 418M
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RECORD EBITDA OF DKK 2,041M ACHIEVED IN 2015
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DISTRIBUTION TO SHAREHOLDERS OF DKK 950M PLANNED FOR 2016



Q4 2015
  • Freight and passenger volumes continued to grow in most markets
  • Revenue increased by 9% to DKK 3.3bn
  • Profit before special items and tax increased by 137% to DKK 178m
  • ROIC increased to 13.7%

OUTLOOK 2016

  • Revenue expected to grow by 6%, excluding bunker surcharges
  • Expansion of shipping capacity to capture growth
  • EBITDA outlook of DKK 2.1-2.3bn
”2015 was a record year for DFDS. Our aim is now to raise performance further. We have shipping capacity in place to benefit from continued volume growth in our key European markets, and we remain firmly committed to improving customer satisfaction and efficiency,” says Niels Smedegaard, CEO.


KEY FIGURES
DKK m
Before special items
Q4
2015
Q4
2014
∆ % FY
2015
FY
2014
∆%

Revenue

3,324

3,059

9%

13,473

12,779

5%
EBITDA 418 314 33% 2,041 1,433 42%
EBIT20111377%1,19969573%
Profit before tax17875137%1,07957189%



For the full-year 2015, reported revenue increased by 5% to DKK 13.5bn. Organic revenue growth, adjusted for route closures and acquisitions, was 7% mainly driven by 7% higher freight shipping volumes and 8% more passengers. In Q4, organic revenue growth was 10%.

Full-year EBITDA before special items increased by 42% to DKK 2,041m and by 33% to DKK 418m in Q4.

The return on invested capital (ROIC) before special items increased to 13.7% in 2015, up from 8.0% in 2014.

The increase of earnings in 2015 was primarily driven by improved capacity utilisation on the Channel, higher freight and passenger volumes, and more efficient operations, including the installation of scrubbers.

Outlook 2016
Freight and passenger volumes are set to continue to grow in 2016 underpinned by customer focus and expectations of growth in DFDS’ key European markets. The Group’s revenue is expected to increase by around 6%, excluding revenue from bunker surcharges. The Group’s EBITDA before special items is expected to increase to a range of DKK 2,100-2,300m.

Increasing payout to shareholders
The Board of Directors plan to distribute a dividend in 2016 of DKK 5.00 per share equal to DKK 300m. To align DFDS’ capital structure to the targeted leverage, a share buyback programme of DKK 650m is launched today comprising a programme of DKK 400m with completion on 24 February 2016 and a programme of DKK 250m to be completed in the six months to 17 August 2016. Programme details are included in a separate announcement that will be released later today.



Contact
Niels Smedegaard, CEO
+45 3342 3400

Torben Carlsen, CFO
+45 3342 3201

Søren Brøndholt Nielsen, IR
+45 3342 3359


Attachments:
UK_OMX_NO_02_12_02_2016_Q4.pdf

Press Contact

Vice President, Communications
Gert Jakobsen

Tel: + 45 33 42 32 97
Mob: + 45 24 40 00 43

E-mail: gert.jakobsen@dfds.com

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