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Strong 2010 for DFDS

17 March, 2011 Copenhagen
The results for 2010 and expectations for 2011 show that the acquisition of Norfolkline created value
With turnover reaching almost 10 billion kroner and an operating profit of 1.3 bil-lion kroner we have come through 2010 very well, says Niels Smedegaard, President and CEO of the DFDS Group, northern Europe's largest combined shipping and logistics company.

The integration of Norfolkline is progressing faster and better than expected. The results for 2010 and expectations for 2011 show that the acquisition clearly created value. At the end of this year we expect that the synergies will reach about 180 million kroner on an annual basis. We have also created value for our shareholders by selling or closing loss-making routes,​ Niels Smedegaard says.

Operating profit (EBITDA) was DKK 1,273m before special items, an increase of DKK 469m from 2009. The increase reflects the improvement in market conditions, the acquisition of Norfolkline from July 2010 and the extensive work done over the last couple of years to adapt operations and make them more effective. Profit before tax but after special items was DKK 547m, compared to DKK 20m in 2009.

For 2011 operating profit (EBITDA) before special items is expected to increase further to around DKK 1.5bn and profit before tax and special items is expected to increase to around DKK 550m (DKK 445m). Expectations are based on an as-sumption of generally rising demand in northern Europe. On the freight market growth is expected to be highest in the Baltic Sea area and lower in the North Sea. On the passenger market growth is expected to be moderate and likewise with higher growth in the Baltic Sea area than in other market areas.
 
 
 
DKK m

2010    

 2009

Change

 Q4

Q4

Change

 

 

 

2010

2009

Revenue

9,867

6,555

3,312

2,946

1,657

1,289

Operating profit (EBITDA) before S.I.

1,273

804

469

284

176

108

Profit before tax and S.I.

445

90

355

57

 -39

 96

Special items

102

 -71

 173

 186

 -18

 204

Profit before tax

 547

 20

 527

 243

 -57

 300


The DFDS group's annual report for 2010 has been published and can be found on the website www.dfdsgroup.com.
 

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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