DFDS posts 2012 results
DFDS reports results for 2012. Operating profit (EBITDA) before special items amounted to DKK 1,092m, 27% lower than in 2011, which was a record year for DFDS. Profit before tax and special items amounted to DKK 276m, compared with DKK 651m in 2011. Revenue increased by 1% to DKK 11.7bn.
Following DFDS’ continued solid capital structure, it is proposed that the dividend for the year be maintained at DKK 14.00 per share, equivalent to a payment of DKK 203m.
“We’re not satisfied with this year’s result, which was affected by the recession in several of our key European markets. The start-up of a new route in the Channel and a new competitor in the freight market between Sweden and the UK also reduced earnings. A ray of light is the Baltic region and Russia, where there is still growth,” says DFDS’ CEO Niels Smedegaard.
“Our strong cash flow of DKK 0.9bn shows that DFDS is a robust business, even in a headwind. We therefore maintain the dividend at the 2011 level. From a strategic perspective, we are in a strong position and we aim to grow further through acquisitions during 2013 to strengthen and expand our European network. At the same time, we are maintaining focus on streamlining and improving our operation through projects which encompass the entire business,” says Niels Smedegaard.
