ShippingWatch

DFDS equipped for multi-million dollar acquisitions

DFDS CEO regrets that a major Turkish acquisition for around EUR 700 million was not completed, but it came close. "We're equipped for major acquisitions," Niels Smedegaard tells ShippingWatch.

Shipping and logistics group DFDS is equipped for one or more multi-million dollar acquisitions, CEO Niels Smedegaard tells ShippingWatch after publishing a strong result for the 2nd quarter 2014 on Thursday, where DFDS managed to grow its revenue by eight percent, its operating profit by 31 percent to USD 71.7 million, while the result before taxes and special items increased 143 percent, to USD 41 million.

Earlier this year, DFDS expressed an interest in equity fund-owned Turkish RoRo carrier U.N. RoRo, which operates in the eastern part of the Mediterranean. The company wound up being sold to another Turkish, similarly equity fund-owned investor group for around EUR 700 million shortly after DFDS withdrew from the process some three weeks ago.

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