Copenhagen, 2015-11-19 08:00 CET (GLOBE NEWSWIRE) -- Announcement no. 92
OUTLOOK RAISED FURTHER TO EBITDA OF DKK 2.0-2.1BN FOR 2015
STRONG VOLUME GROWTH CONTINUED IN HIGH SEASON
SOLUTION ON ENGLISH CHANNEL BOOSTS RESULTS
- 11% organic revenue growth achieved in Q3
- Operating profit (EBITDA) increased by 35% to DKK 843m
- 9% higher freight shipping volumes
- 11% more passengers
- 9% higher logistics revenue
- Profit before special items and tax increased by 59% to DKK 595m
- Total ROIC increased to 12.6% (LTM)
”Our investment in customer focus and constant pursuit of operating efficiency enabled us to benefit from growth in several of our key markets and deliver a record result in Q3,” says Niels Smedegaard, CEO.
”We will continue our work of raising results for underperforming activities and preparing DFDS for future challenges,” says Niels Smedegaard, CEO.
| KEY FIGURES | |||||||
| DKK m | Q3 | Q3 | LTM*) | LTM*) | FY | ||
| Before special items | 2015 | 2014 | ∆ % | 2014-15 | 2013-14 | ∆ % | 2014 |
| Revenue | 3,792 | 3,567 | 6% | 13,208 | 12,715 | 4% | 12,779 |
| EBITDA | 843 | 626 | 35% | 1,937 | 1,396 | 39% | 1,433 |
| EBIT | 626 | 423 | 48% | 1,112 | 684 | 63% | 695 |
| Profit before tax | 595 | 375 | 59% | 976 | 562 | 74% | 571 |
| *) LTM: Last twelve months |
DFDS achieved strong organic revenue growth of 11% in Q3. This was driven by 9% higher freight shipping volumes and an increase of 11% in the number of passengers as well as rising unit revenues.
Revenue growth was 6% not adjusted for route closures in 2014.
EBITDA before special items increased by 35% to DKK 843m driven by the high operating leverage of the Shipping Division.
For the last twelve months a return on invested capital (ROIC) before special items of 12.6% was achieved, up from 8.0% for the full-year 2014. DFDS targets a ROIC of minimum 10% across the cycle.
All five shipping business units improved performance in Q3, particularly the Channel, Passenger and North Sea units.
The result of the Logistics Division was on a level with last year and in line with expectations. Compared to last year, the operating profit margin was reduced by the implementation of a new automotive logistics contract and lower earnings in Norway.
Following the Q3 result and continued volume growth in October, the full-year outlook for EBITDA is raised to DKK 2.0-2.1bn before special items from DKK 1.8-1.9bn in August.
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
