Dfds A/s · OMXCOP:DFDS

Dfds A/s — Merger or Acquisition (January 2021)

15 slides from Dfds A/s's merger presentation, Jan 26, 2021

  1. Slide 1: Acquisition of HSF Logistics Group

    Acquisition of HSF Logistics Group Investor and analyst call 26 January 2021 Click icon to add picture

  2. Slide 2: WIN23 strategy - 4 strategic pillars to drive growth

    WIN23 strategy - 4 strategic pillars to drive growth

  3. Slide 3: Grow solutions to select industries

    Grow solutions to select industries • Automotive A • Forest & Metals • Cold Chain

  4. Slide 4: Creating Northern Europe's leading cold chain logistics provider

    Creating Northern Europe’s leading cold chain logistics provider • Agreement to acquire HSF Logistics Group with four main brands • HSF Logistics Group – revenue of DKK 2.8bn and EBITDA of DKK 320m, 1,800 employees • Enterprise value DKK 2.2bn • Attractive transaction structure leaves DFDS’ financia

  5. Slide 5: HSF expands DFDS footprint in core markets

    HSF expands DFDS footprint in core markets • HSF Logistics Group adds market leading positions in: • Netherlands • Germany • Denmark China • Brings expertise in meat logistics

  6. Slide 6: Overview of HSF Logistics Group

    Overview of HSF Logistics Group HSF Logistics Group • HSF Logistics founded in 1923 in Nijmegen, Netherlands EUR m 2017 2018 2019 Revenue 373 387 395 • HSF Logistics and N&K Spedition merged 2017. Owner of Skive Køletransport since 2015 EBITDA 39 43 43 Margin 10.5% 11.1% 10.9% • Cold chain logistics

  7. Slide 7: Continent-UK integrated packaging and transport logistics

    Continent-UK integrated packaging and transport logistics • Collection, storage and transport of pork and poultry from mainly Benelux to UK • Storage and cross docking facility in Nijmegen, 85k m2 • Extensive packaging services to customers based on Dolav system • Supplementary trucking provided by

  8. Slide 8: Netherlands-Germany integrated packaging and transport logistics

    Netherlands-Germany integrated packaging and transport logistics • Collection, storage and transport of beef and veal from mainly Netherlands to Germany (EuroFresh facility). Domestic logistics in Germany • Back loads from Germany include fruit, vegetables, dairy, fries • Storage and cross docking f

  9. Slide 9: Scandinavia – international forwarding and domestic cold chain logistics

    Scandinavia – international forwarding and domestic cold chain logistics • Focus on meat and fish export from Scandinavia to UK, Spain and Italy • Back loads from southern Europe include fruit and vegetables • Domestic temperature controlled logistics in Denmark – focus on dairy, frozen products and

  10. Slide 10: Packaging and value added services integrated in business model

    Packaging and value added services integrated in business model Sticker-free cleaning Hanging meat • Packaging rental, repair, cleaning of reusable packaging (plastic box pallets, crates, and pallets) Wrapping Shock freezing & defrosting • Strong offering of Dolav packaging system • Packaging offer

  11. Slide 11: HSF & DFDS creates leading cold chain provider

    HSF & DFDS creates leading cold chain provider • DFDS cold chain: • 500 trucks operated • 1,400 reefer trailers and containers • 20 locations • 650 employees • HSF cold chain: China • 700 trucks operated • 1,700 reefer trailers • 22 locations • 1,800 employees • Logistics Division revenue grows to a

  12. Slide 12: Attractive transaction structure…

    Attractive transaction structure… • Acquisition of 100% of HSF Logistics Group for a debt-free price of DKK 2.2bn (EUR 296m) DKK m • EV/EBITDA multiple of ~7x Est. NIBD Est. NIBD • Acquisition made by Newco with DFDS owning 460m 460m 100% of ordinary shares Enterprise Preferred • DKK 930m to be paid

  13. Slide 13: …leaves financial leverage unchanged

    …leaves financial leverage unchanged • DFDS’ financial leverage, NIBD/EBITDA, Planned seller pay-outs DKKm expected to be unchanged by transaction 1,740 270 • 100% control of HSF Logistics Group - full consolidation in DFDS Group from 270 closing 270 930 • Closing expected in around three months sub

  14. Slide 14: Moving Win23 forward

    Moving Win23 forward • Delivery of cold chain growth strategy – Pillar A • Creation of leading provider in an attractive niche market • Overlap with ferry transport infrastructure • Cost and commercial synergies to be communicated at closing 14

  15. Slide 15: | Lal

    | Lal b iSTICS | ——— } F LOG 1 —_ 20aR - N&k Spedition ARI ESBJERG - DENMARK

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