DFDS profit dropped 59 % in Q3
DFDS passenger business was severely hit by COVID-19 travel restrictions in Q3. However, the result is better than originally expected, as the freight businesses of both Ferry and Logistics were above last year’s Q3 results.
“Our freight network is as expected proving to be very resilient. We continue to adapt operations to market changes and Brexit. I am pleased to see that all the hard work of our people has helped position us well for the future”, says Torben Carlsen, CEO of DFDS.
The operating profit was DKK 846 million, which is DKK 349 million less than last year’s third quarter operating profit.
On 23 October 2020, the outlook for 2020 was raised as dfreight volumes have developed more positively than expected during and after Q3.
EBITDA before special items is expected to be DKK 2.5-2.7bn in 2020 up from the previous outlook of DKK 2.2-2.5bn included in the Q2 2020 report.
Uncertainty remains elevated and the outlook and its assumptions can still change significantly in the rest of the year.