DFDS: One-pager
Today we publish our one-pager on DFDS, a ferry and logistics solutions company operating in Europe. The one-pager gives an introduction to the business, the investment case and highlights key risks and reasons relating to an investment in DFDS.
DFDS shows continued recovery following Covid-19, benefitting in 2022 from favourable freight ferry and logistics conditions and stronger than expected recovery in its passenger segment. The Covid-19 lockdowns disrupted international travel, which saw DFDS’ revenue from its passenger segment fall by approx. DKK 1bn for 2020 and 2021, against 2019 levels, and negatively impacting EBITDA of approx. DKK 600m. Passenger numbers and, in turn, earnings are returning towards 2019 levels, contributing towards DFDS upgrading guidance three times so far in 2022.
DFDS acknowledges there are macroeconomic headwinds on the horizon as Europe experiences an energy crisis and rising interest rates. However, sustained supply chain challenges in Europe driven by shortages of haulage capacity have led to a backlog that can work to offset short-term weakening demand.
Disclaimer: HC Andersen Capital receives payment from DFDS for a digitalIR agreement/ Philip Coombes 09.09.22 12:35
DFDS
DFDS is active in shipping, logistics, freight, and passenger transport. Services that the company offers are, for example, integrated transport solutions, warehouses, the handling of particularly sensitive goods, and complete solutions for multi-stage transport. Today, the business is mainly concentrated in the European market. DFDS was originally founded in 1866 and is headquartered in Copenhagen, Denmark.
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