Continued progress for DFDS

 

  • Q3 pre-tax profit before special items up 20% to DKK 346m
  • Pre-tax profit increased by 47.6% to DKK 332m
  • Return on invested capital in Q3 increased to 15.3% from 11.7%
  • Sale and integration of activities, and restructuring reduces revenue
  • Turnaround of earnings from transport and logistics activities achieved



“Pre-tax profit of DKK 346m in Q3 was in line with our expectations, and we made good progress on improvement and efficiency projects. It is highly satisfactory that we already now are seeing a decisive turnaround of earnings from transport and logistics activities, and synergies and restructuring are likewise positively impacting the bottom line,” says President and CEO Niels Smedegaard.

“We maintain our expectation of an operating profit (EBITDA) of DKK 1.5 billion for 2011 on a background of undiminished demand for sea and land transport in the Baltic region, and some weakening of demand in North Sea markets. There is growing uncertainty about future growth in Europe’s economies, but regardless of the prospect of lower growth in some markets, DFDS’ solid capital structure and efficiency projects put us in a strong position to face the future,” adds Niels Smedegaard.