DFDS A/S
QUARTERLY RESULT AS EXPECTED IN WEAKENING MARKET

DFDS A/S 

15.11.2012 08:07
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Copenhagen, 2012-11-15 08:07 CET (GLOBE NEWSWIRE) -- Announcement no. 27








* Operating profit (EBITDA) DKK 503m in line with expectations
* Results were improved or maintained in most business areas.
* .but overshadowed by large decrease on North Sea
* Profit expectation for 2012 maintained, but at lower end of interval


Q3 revenue was DKK 3,170m (DKK 3,110m) and operating profit (EBITDA) before
special items was DKK 503m (DKK 561m). Results were as expected in Q3, which is
the high season of DFDS. 

'The wheels of Europe's economies, and thereby the transport sector, turned
somewhat more slowly in Q3. This was foreseen and included in our profit
expectation for the full-year 2012, which therefore remains unchanged. We will,
however, most likely pass the finishing line at the low end of the expected
interval, as halfway through Q4 we see continued weakening of demand in
Northern Europe,' says CEO Niels Smedegaard. 

'The weakening of demand is causing overcapacity on several markets and
pressure on earnings. The return on the invested capital is therefore lower
than our goal. We continue to strive to improve our competitiveness by
adjusting costs to market con-ditions and strengthening relations with our
customers, including an increase in cus-tomer focus that involves everybody in
the company,' says Niels Smedegaard. 

'Net interest-bearing debt has been reduced substantially, and this enables us
to pursue interesting opportunities that may arise to expand our activities,'
adds Niels Smedegaard. 



DFDS key figures                        Q3     Q3                  
DKK m                                 2012   2011  Change %  Change
Revenue                              3,170  3,110         2      60
EBITDA before special items            503    561       -10     -58
EBIT before special items              340    414       -18     -74
Profit before tax and special items    303    346       -12     -43
Special items, net                     -30    -14       110     -16
Profit before tax                      273    332       -18     -59

The expected operating profit (EBITDA) for 2012 is still DKK 1,150-1,200m
before special items, although as mentioned above in the low end of the
interval. Expected Special items are increased by DKK 25m due to one-off costs
associated with the cancellation of newbuilding contracts, and expected
investments for the year are reduced to DKK 300m from DKK 650m for the same
reason. 



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
News Source: NASDAQ OMX



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Language:     English
Company:      DFDS A/S
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0010259027
WKN:          
 
End of Announcement                             DGAP News-Service
 
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