DFDS made USD 63.3 million profit in 2013

DFDS made a 2013 profit before taxes of USD 64.3 million. The company benefited from solid growth in the North Sea market, while activities in Russia declined. The carrier plans to invest USD 183.8 million this year.

DFDS achieved a profit before taxes of USD 64.3 million in 2013, compared to USD 26.8 million in 2012. Revenue increased to USD 2.20 billion, from USD 2.15 billion the year before.

“Progress was achieved partly through a sharp focus on customers, which has strengthened our market share, and partly through continuous streamlining of operations. We have benefited from growth in the North Sea market, but declining activity in Russia has reduced volumes in the Baltic Sea region. We improved our result in the English Channel, but the area remains a major challenge,” says DFDS CEO Niels Smedegaard.

The carrier improved its operating profit (EBITDA) by 11 percent in 2013, to USD 222.9 million before special items.

2014 expectations

“DFDS is strongly positioned, both financially and strategically, even though market growth is expected to remain low and competitive pressures will persist. In 2014, we will continue to work on creating synergies by expanding our European network through acquisitions. Our focus on improvements and streamlining will continue at full strength,” says Niels Smedegaard.

Revenue is expected to grow by around six percent, of which two-percentage points represent the full-year effect of corporate acquisitions made in 2013.

Operating profit (EBITDA) is expected to be around USD 229.7 million to USD 257.2 million.

However, the result for 2014 will continue to affected negatively by operations on the Channel, regardless of the ruling presented by the British Competition Commission in May this year.

The carrier expects to invest around USD 183.8 million during this year.

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