COMPANY ANNOUNCEMENT NO. 5/2022
GROWTH SET TO CONTINUE IN 2022
- EBITDA increased 19% to DKK 915m in Q4
- Supply chain bottlenecks eased during Q4
- Early signs of pick-up in passenger numbers
- EBITDA expected to grow more than 20% in 2022
- Total dividend of DKK 8.00 per share planned
Q4 2021
- Revenue up 46% to DKK 5.5bn
- Full effect of HSF Logistics Group
- Passenger result improved
OUTLOOK 2022
- EBITDA range DKK 3.9-4.4bn (2021: DKK 3.4bn)
- Revenue growth of 23-27%
- Investments of DKK 2.3bn
“In spite of Covid-19, Brexit, and supply chain bottlenecks, we delivered a strong result for 2021. In 2022, we look to raise both revenue and earnings more than 20%,” says Torben Carlsen, CEO.
| KEY FIGURES | ||||||
| 2021 | 2020 | 2021 | 2020 | |||
| DKK m | Q4 | Q4 | Change, % | Full year | Full year | Change, % |
| Revenue | 5,482 | 3,761 | 45.7 | 17,869 | 13,971 | 27.9 |
| EBITDA before special items | 915 | 769 | 18.9 | 3,411 | 2,732 | 24.9 |
| EBIT before special items | 309 | 289 | 6.7 | 1,313 | 858 | 53.1 |
| Profit before tax and special items | 255 | 194 | 31.6 | 1,035 | 583 | 77.4 |
| Profit before tax | 259 | 97 | 167.7 | 1,069 | 466 | 129.5 |
Revenue increased 46% to DKK 5.5bn driven by the acquisition of HSF Logistics Group, higher revenue from bunker surcharges, and a doubling of passenger revenue from a low level in Q4 2020. Passenger revenue remained far below pre-Covid-19 levels through 2021.
EBITDA increased 19% to DKK 915m. The total freight EBITDA for ferry and logistics before special items increased 9% to DKK 946m driven mainly by the acquisition of HSF Logistics Group. Supply chain bottlenecks eased during Q4 and towards the end of the quarter UK freight flows also normalised. The total EBITDA for passenger activities in the Baltic Sea, Channel, and Passenger business units increased DKK 67m to DKK -30m.
The Board of Directors proposes to the 2022 AGM a dividend of DKK 4.00 per share. In addition, the Board of Directors plan to distribute a further dividend of DKK 4.00 per share in August 2022.
Outlook 2022
The Group’s revenue is expected to increase by 23-27% compared to 2021. The two main growth drivers are the full-year impact of the acquisition of HSF Logistics Group and a recovery in passenger revenue. Freight volumes are expected to grow in most markets as well. The Group’s EBITDA before special items is expected to be within a range of DKK 3.9-4.4bn (2021: DKK 3.4bn).
The outlook is detailed on page 10 in the full report.
Read the Interim and Full-year Q4 2021 Report here:
https://www.dfds.com/en/about/investors/reports-and-presentations/q4-report-2021
8 February 2022. Conference call today at 10.00am CET
Access code: 69658763# Phone numbers to the call: DK +45 35445577, US +1 631 913 1422, UK +44 333 300 0804
Contact
Torben Carlsen, CEO +45 33 42 32 01
Karina Deacon, CFO +45 33 42 33 42
Søren Brøndholt Nielsen, IR +45 33 42 33 59
Nicole Seroff, Communications: +45 31 40 34 46
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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