Company announcement no. 13/2019
FIRST QUARTER ON TRACK
· North Sea achieved strong result
· Fast Mediterranean ramp-up delivers growth but at reduced margins
· Negative one-off impacts from Easter timing on passengers and additional vessel costs in Baltic
· 2019 EBITDA outlook unchanged: DKK 3.8-4.0bn (2018: DKK 3.6bn, restated)
· Revenue up 11% to DKK 3.9bn
· EBITDA up 13% to DKK 677m
· First new freight ferry delivered and deployed
OUTLOOK 2019 UNCHANGED
· 10-12% revenue growth
· EBITDA-range of DKK 3.8-4.0bn (2018:DKK 3.6bn)
"The continued expansion of our network drives DFDS` growth in 2019 and beyond. Despite current headwinds in some markets, we are on track to deliver on our outlook for the year," says Torben Carlsen, CEO.
| KEY FIGURES |
|Before special items||Q1||Q1||CH %||LTM||FY|
|Profit before tax||159||204||-22.3%||1,697||1,744|
In Q1, revenue increased 11% to DKK 3.9bn driven by the expansion in the Mediterranean and stockpiling in UK ahead of the initial Brexit-date end of March. The Easter timing difference vs 2018 lowered passenger revenue.
EBITDA before special items for Q1 increased 13% to DKK 677m driven by the Mediterranean expansion and strong performance in North Sea.
Baltic Sea`s result was lowered by one-off additional operating costs as capacity was maintained during dockings, one of which was extended. In addition, the Easter timing difference reduced passenger earnings compared to Q1 2018, especially in the Passenger business unit.
Logistics continued to improve performance in UK & Ireland. In Sweden and Belgium earnings were lower as Q1 2018 included peak earnings from a large contract.
The first in a series of six new freight ferries was delivered in February and successfully deployed in March between Istanbul and Trieste.
The outlook is unchanged for revenue growth of 10-12% and for EBITDA before special items of DKK 3,800-4,000m (2018 restated to IFRS 16: DKK 3,589m). See full outlook section in the report.
In the above, all comparative 2018 numbers, including the table, are restated to IFRS 16 on a proforma and unaudited basis.
Read the Q1 2019 Interim Report here
9 May 2019. Conference call today at 10.00am CET
Access code: 72783791# Phone numbers to the call: DK +45 35445577, US +1 631 913 1422, UK +44 333 300 0804
Capital markets day 2019
DFDS` management is hosting a capital markets day for institutional investors and analysts on 18 June in Copenhagen. For more information and sign-up, click here
Torben Carlsen, CEO +45 33 42 32 01
Søren Brøndholt Nielsen, IR +45 33 42 33 59
Gert Jakobsen, Communications +45 33 42 32 97
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act. UK_DFDS_Q1_2019
This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: DFDS A/S via GlobeNewswire