Pickup in demand faster than expected
Our outlook is improved. Freight volumes have picked up and the demand for ferry travel is encouraging on our reopened passenger routes. It is uncertain whether the pickup in demand is sustainable and we therefore remain alert.
Q2 revenue of DKK 2.8bn
Q2 EBITDA of DKK 507m
Q2 profit before tax of DKK 11m
Positive free cash flow in Q2
DFDS Outlook 2020
The outlook for 2020 has improved following a faster than expected pickup in freight volumes towards the end of Q2 and in July. The reopening of all passenger services and a quick pickup in demand from passengers, especially between Norway and Denmark, has also reduced uncertainty. As a consequence of the improved outlook, EBITDA before special items is now expected to be DKK 2.2-2.5bn in 2020. The expectation for EBITDA before special items was previously that it was likely to be reduced towards DKK 2bn. Uncertainty remains elevated and the outlook and its assumptions can still change significantly in the rest of the year.
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