Slide 1: Q2 2022 investor call: Strong growth
Q2 2022 investor call Strong growth 16 August 2022
Slide 2: Agenda
Content • Q2 overview • Q2 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: Excellent Q2 result across all business units shores up financial strength
Excellent Q2 result across all business units shores up financial strength • Passengers coming back faster than expected Revenue up • Logistics margins restored by concerted effort • Channel market share holding up well 67% to DKK 7.0bn as competitive situation evolves • Financial leverage set to en
Slide 4: All business units contributed to an all-time high quarterly result
All business units contributed to an all-time high quarterly result Q2 EBITDA before special items • DFDS Group revenue up 67% and EBITDA DKK m up 63% to DKK 1.46bn 2022 1,459 2021 897 • Ferry freight EBITDA up 13% to 2020 507 DKK 948m driven by Mediterranean growth and higher North Sea earnings 201
Slide 5: Passenger recovery, logistics growth, and acquisitions raise revenue
Passenger recovery, logistics growth, and acquisitions raise revenue • Passenger up DKK 642m driven by the Channel and Passenger business units DKK m Change in revenue, Q2 2022 vs Q2 2021 7,200 • Freight ferry up DKK 759m mainly due to bunker surcharges as low 6,700 998 sulphur oil price increased 1
Slide 6: Q2 2022 income statement – strong earnings improvement
Q2 2022 income statement – strong earnings improvement DFDS Group P/L DKK m Q2 21 Q2 22 Δ Δ • EBITDA up 63% driven by passenger Revenue 4,213 7,046 2,833 67% recovery, improved logistics results, and EBITDA* 897 1,459 562 63% addition of HSF Logistics Group Margin 21.3% 20.7% -0.6% Ferry Division 76
Slide 7: Financial strength shored up as leverage heads towards target range
Financial strength shored up as leverage heads towards target range • Assets up DKK 5.0bn mainly due to HSF DKK m Q2 21 Q2 22 Δ Δ consolidation and newbuildings Non-current intangible assets 4,889 6,280 1,391 28% Non-current tangible assets 17,678 20,025 2,347 13% Total assets 28,515 33,537 5,021 18
Slide 8: Ferry EBITDA boosted by passenger recovery
Ferry EBITDA boosted by passenger recovery EBITDA* per business unit • North Sea up 21% driven by higher DKK m revenue from rates and standage 450 fees in port terminals as well as 457 lower operating costs 350 378 341 • Mediterranean up 33% driven by 250 volume growth as well as improved 257 205 re
Slide 9: Ferry EBITDA boosted by passenger recovery
Ferry EBITDA boosted by passenger recovery EBITDA* per business unit • Baltic Sea up 7% as reduced DKK m freight volumes, due to the war in 450 Ukraine, were offset by lower 457 operating costs and higher 350 378 passenger earnings 341 250 • Passenger up DKK 184m 257 following the recovery in 205 15
Slide 10: Logistics EBITDA more than doubled to DKK 274m
Logistics EBITDA more than doubled to DKK 274m • Dry Goods up 76% as margins were successfully DKK m EBITDA* per business unit restored by concerted effort to improve cost 175 coverage 150 147 • Forwarding volumes on level or below 2021 125 127 100 • Demand for contract logistics solutions continued
Slide 11: Key ESG actions
Key ESG actions • Ferry CO2 emissions reduced 4% in Q2* • Shore power installations on freight ferries initiated, 4 expected in 2022 • First of 125 eTrucks set for deployment in Gothenburg in Q4 2022 • Project Green Ferry 2025 expected to focus on retrofitting • Logistics 50% emission reduction targ
Slide 12: Outlook
Current situation 2022 OUTLOOK Click icon to add picture
Slide 13: Outlook 2022 – EBITDA and revenue growth raised
Outlook 2022 – EBITDA and revenue growth raised DKK m Outlook 2022 Previous 2021 • Revenue growth raised to around Revenue growth Around 40% Around 30% 17,869 40% (previously around 35%) EBITDA before special items 4,400-4,800 3,900-4,400 3,411 • Increase from 35% mainly due to higher revenue from o
Slide 14: Key current priorities
Key current priorities ROIC • Organic growth ambition of 10% DFDS strategy in 2023 • Align pricing with cost dynamics • Optimise duty-free sales • Automotive • Easy access for • Mediterranean • Develop on • Climate Action Plan • Green transition projects customers business plan board customer • Deve
Slide 15: Q&A
Q&A