Announcement no 04/2008
Copenhagen, 11 March 2008
Annual Report 2007 for the DFDS Group
DFDS had one of its best years ever
DFDS increased its profits by a third to DKK 526 million
In 2007 DFDS managed to make sea transport of trailers, paper, steel,
containers, new cars and passengers in Northern Europe an even better business
than it was in 2006. The DFDS Group consequently achieved one of its best
results ever in 2007, a total pre-tax profit of DKK 526 million. This is 31%
more than in 2006 and considerably above the expectations at the start of the
year. Turnover rose by 10% to DKK 8.3 billion.
“We made a good profit in 2007,” says CEO Niels Smedegaard. “Our cash flow is
strong and we have a solid financial basis.”
The first half of the year in particular was marked by strong economic
conditions, though this was less the case in the second half. Nevertheless,
DFDS' management expects to be able to maintain the high level of earnings in
2008 that was achieved in the previous year.
The good result in 2007 was particularly due to the Group's freight-based
business areas: Ro- Ro Shipping (the largest business area), Container Shipping
and Terminal Services. Trailer Services also saw a positive development.
Only Passenger Shipping did not live up to expectations in 2007. DFDS has
therefore implemented a project to streamline operations
and strengthen the results in this business area, which accounts for 22% of
turnover.
“In 2007 we initiated an extensive efficiency-boosting programme,” says Niels
Smedegaard. “Many specific measures in all business areas will ensure a durable
and structured process for improving the entire Group's operations. In 2007, we
also put forward the Group's strategy ‘From Routes to Network', which outlines
ambitious plans for DFDS.”
“The first step has been to change the structure to five focused business areas:
Ro-Ro Shipping, Container Shipping, Passenger Shipping, Terminal Services and
Trailer Services. We have subsequently adjusted the Group management to match
this structure so that with the financial strength we have achieved, we will be
in a good position to realise our strategy and reach our growth targets.”
Yours truly,
DFDS A/S
Key figures
DKK m 2005 2006 2007
Revenue 6.278 7.524 8.310
Operating profit (EBITDA) 890 1.137 1.316
EBITDA-margin % 14,2 15,1 15,8
Profit before tax 231 402 526
Cash flow from operating 711 1.167 1.264
activities
Total equity 2.904 3.265 3.653
Equity ratio % 34,3 32,7 38,0
Return on equity p.a. % 6,8 11,7 14,5
Return on invested capital 6,0 7,0 8,6
(ROIC)
Earnings per share (EPS) DKK 23 46 52
Dividend per share DKK 7,5 11 15
Average number of employees 4.215 4.346 4.427
Further information: Niels Smedegaard,
CEO & President, tel: +45 3342 3400
The DFDS Group operates a leading, sea-based transport network in Northern
Europe that is based on a fleet of 64 ships: comprising Ro-Ros, combined
freight/passenger ships and container ships as well as terminals and a trailer
network linked to the routes. The company has 4,400 employees in 14 countries.
DFDS is headquartered in Copenhagen and is listed on OMX The Nordic Exchange
Copenhagen.
