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 a Danish based ferry and logistics provider in Europe and Turkey, listed on the Nasdaq OMX Copenhagen Stock Exchange, with a history dating back to 1866. The company’s ferry division operates ferry routes around Europe transporting both freight and around 5 million passengers per year. Its ferry division is its primary revenue driver, and it has a presence in the North Sea, Baltic Sea, Mediterranean Sea, and the English Channel. DFDS also offers a wide range of freight services, rooted in the regions served by its ferry routes, they range from door-door transports of full loads, to complex solutions for major industries. Its major customers include forwarders and hauliers as well as manufacturers of heavy industrial goods.
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