Slide 1: Q1 2022 investor call: Good start to 2022
Q1 2022 investor call Good start to 2022 11 May 2022
Slide 2: Agenda
Content • Q1 overview • Q1 numbers Agenda • 2022 outlook The statements about the future in this announcement contain risks and uncertainties. This entails that actual developments may diverge significantly from statements about the future. 2
Slide 3: Well under way to raise earnings more than 20% in 2022
Well under way to raise earnings more than 20% in 2022 Ferry volumes, y/y-change - 2022-21 • Q1 results in line with expectations Freight Passengers • Logistics EBITDA doubled by HSF Logistics 60% 1200% Group and higher margins 50% 1000% Freight recovery Passenger recovery from Covid-19 from Covid-1
Slide 4: Q1 2022 – earnings growth held back by 2021 Brexit standby income
Q1 2022 – earnings growth held back by 2021 Brexit standby income • DFDS Group revenue up 52% and EBITDA Q1 EBITDA before special items up 9% to DKK 822m DKK m 2022 822 • Profit conversion impacted by Oslo- Frederikshavn-Copenhagen re-opening, 2021 750 rising oil surcharges, and Brexit standby incom
Slide 5: Revenue growth boosted by acquisitions and passenger recovery
Revenue growth boosted by acquisitions and passenger recovery • Revenue up 52% driven by: Revenue change, Q1 2022 vs Q1 2021 DKK m • Recovery of passenger volumes, including 5,900 re-opening of Oslo-Frederikshavn-CPH 5,400 • Freight ferry volume growth plus 890 considerable oil surcharge increase as
Slide 6: Q1 2022 income statement
Q1 2022 income statement DFDS Group P/L DKK m Q1 21 Q1 22 Δ Δ • EBITDA up 9% driven by freight. Revenue Revenue 3,768 5,725 1,957 52% components with no or negative profit conversion: Oil/fuel surcharges, passenger EBITDA* 750 822 71 9% Margin 19.9% 14.4% -5.6% revenue due to OFC re-opening, Brexit
Slide 7: Q1 capital overview – last ferry newbuilding delivered
Q1 capital overview – last ferry newbuilding delivered DKK m Q1 21 Q1 22 Δ Δ • Assets increased DKK 4.6bn mainly due to Non-current intangible assets 4,899 6,267 1,368 28% HSF consolidation and newbuildings Non-current tangible assets 16,971 20,158 3,188 19% Total assets 27,820 32,450 4,630 17% • Op
Slide 8: Ferry Division – positive underlying development
Ferry Division – positive underlying development • North Sea up DKK 13m despite Brexit standby Total EBITDA* of DKK 598m vs DKK 641m in 2021 agreement income in Q1 2021. Underlying DKK m improvement driven by 5% higher volumes +13 350 and RPM growth +45 • Mediterranean up DKK 45m driven by 12% 250 h
Slide 9: Channel – freight market share development
Channel – freight market share development Channel freight market shares, 2021-2022 • Total Q1 freight volumes up 14.3% 45% 40% 35% • Market shares impacted from March 30% 25% 17 by P&O Ferries’ suspension of 20% sailings 15% 10% 5% 0% • P&O Ferries and Irish Ferries both Jan Feb Mar Apr May Jun Jul
Slide 10: Channel – passenger car market share development
Channel – passenger car market share development Channel car market shares, 2020-2021 • Total Q1 passenger car volumes up 90% 175.2% 80% 70% 60% 50% • Market shares likewise impacted 40% from March 17 by P&O Ferries’ 30% 20% suspension of sailings 10% 0% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov D
Slide 11: Ferry Division – Baltic impacted by war in Ukraine
Ferry Division – Baltic impacted by war in Ukraine Total EBITDA* of DKK 598m vs DKK 641m in 2021 • Baltic Sea down DKK 32m as war in DKK m Ukraine reduced freight volumes between mainly Germany and Lithuania 350 +13 +45 • Ferry running costs increased by high number of dockings and deployment of 250
Slide 12: Logistics - earnings lifted by HSF and higher Dry Goods margin
Logistics - earnings lifted by HSF and higher Dry Goods margin • Dry Goods up DKK 39m driven by improved Total EBITDA* of DKK 216m vs DKK 101m in 2021 cost coverage from increased prices and DKK m surcharges related to fuel and EU Mobility 125 +39 +77 Package • Performance improved across Nordic, 10
Slide 13: Outlook 2022
Current situation 2022 OUTLOOK Click icon to add picture
Slide 14: Outlook 2022 – revenue growth raised to around 30%
Outlook 2022 – revenue growth raised to around 30% • Revenue growth raised to around 30% from DKK m Outlook 2022 2021 previously 23-27% Revenue growth Around 30% 17,869 • Increase mainly due to significantly higher EBITDA before special items 3,900-4,400 3,411 revenue from oil surcharges Per divisio
Slide 15: Key ESG focus areas in 2022
Key ESG focus areas in 2022 • Project Green Ferry 2025 progressing • Deployment planning for 125 electric trucks • Focus on female gender ratio – ahead of target in offices, lagging in non- office functions • Health & Safety organisation strengthened to improve awareness and enforce preventive actio
Slide 16: Key current priorities
Key current priorities • Cost coverage • Adapt to EU Mobility Package • Monitor haulage supply and plan for possible bottlenecks • Passenger recovery: Regain volumes, duty- free sales, optimise new concepts • Baltic Sea newbuilding deployment • ESG - environmental transformation, safety, diversity &
Slide 17: Q&A
Q&A