JOINT VENTURE WITH LOUIS DREYFUS ARMATEURS COMPLETED
Louis Dreyfus Armateurs and DFDS completed a joint venture, which will support the development of a long term, sustainable operation on the Channel
DFDS and Louis Dreyfus Armateurs (LDA) have today completed a joint venture agreement and formed a new company combining DFDS Channel operations and LD Lines ferry operations.
DFDS ownership share of the new company will be 82% and LDA will own 18%.
The joint venture is expected to add around DKK 100m of revenue in Q4 2012, while the profit impact in the same period is not expected to be material.
The activities of LD Lines will be integrated partly in the existing business unit Channel, and partly in a new business unit France & Mediterranean:
- Dover
- Newhaven
- Portsmouth *Route concession until 2014.
The new business unit is responsible for managing the Mediterranean route between Marseille and Tunis, and providing sales and customer services for the Channel routes in France and Spain, thereby contributing to increasing the market share in these markets.
In addition, the new business unit is responsible for driving the sale of the freight and passenger services of DFDS entire route network in France and Spain. The planned integration process has now been kicked off and is expected to be completed by the end of 2013, including integration of all business systems.
The integration is expected to enhance operational efficiency as LD Lines operations are transferred to DFDS business systems and groupwide functional services (it, finance, HR, technical). Carsten Jensen will continue as head of business unit Channel while Christophe Santoni assumes responsibility for the new business unit France & Mediterranean. Christophe Santoni was previously Managing Director of LD Lines.
Contact persons
Niels Smedegaard, CEO +45 33 42 34 00
Torben Carlsen, CFO +45 33 42 32 01
Søren Brøndholt Nielsen, IR +45 33 42 33 59