Slide 1: 2021 off to a good start
2021 off to a good start DFDS Group Q1 2021 11 May 2021
Slide 2: Content
Content • Q1 2021 overview • Q1 numbers Agenda • Outlook 2021 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: Brexit transition and Mediterranean growth drives Q1 improvement
Brexit transition and Mediterranean growth drives Q1 improvement • First two months of Q1 a challenge Ferry volumes, y/y change – 2020-21 for UK-linked freight activities, strong Freight Passengers recovery in March 60% 20% 50% • Positive impact from Brexit-linked 0% 40% activities - new Irish route
Slide 4: Q1 EBITDA up 23% driven by higher freight earnings
Q1 EBITDA up 23% driven by higher freight earnings Q1 EBITDA before special items DKK m • DFDS Group revenue down 1% and 2021 750 EBITDA up DKK 140m or 23% vs 2020 2020 610 • Ferry freight EBITDA up DKK 158m 2019 677 driven by Mediterranean and activities 0 200 400 600 800 linked to Brexit transitio
Slide 5: Q1 2021 income statement
Q1 2021 income statement • Revenue from freight increased. Lower passenger DFDS Group P/L DKK m Q1 20 Q1 21 Δ Δ and BAF revenue reduced Group revenue 1% Revenue 3,813 3,768 -46 -1% • EBIT more than doubled to DKK 278m as EBITDA* 610 750 140 23% Margin 16.0% 19.9% 3.9% depreciation remained on level
Slide 6: Q1 capital overview and key figures
Q1 capital overview and key figures • Working capital reduced DKK 267m vs 2020 DKK m Q1 20 Q1 21 Δ Δ mostly by lower Mediterranean receivables Non-current tangible assets 16,991 16,971 -21 0% Total assets 26,574 27,878 1,304 5% • Cash flow – negative adjusted free cash flow of DKK 50m, incl. negativ
Slide 7: Ferry Division – EBITDA increase driven by Mediterranean and Channel
Ferry Division – EBITDA increase driven by Mediterranean and Channel • North Sea up DKK 9m. Income from Total EBITDA* of DKK 641m vs DKK 525m in 2020 Brexit transition activities offset by DKK m higher net bunker cost 350 +9 +101 • Baltic Sea down DKK 14m. Positive 250 impact of higher volumes more
Slide 8: Ferry Division – EBITDA increase driven by Mediterranean and Channel
Ferry Division – EBITDA increase driven by Mediterranean and Channel Total EBITDA* of DKK 641m vs DKK 525m in 2020 DKK m • Passenger down DKK 13m. Result lower in first two months of Q1 as 350 +9 Covid-19 disrupted earnings from +101 mid-March last year 250 150 -14 • Mediterranean up DKK 101m. Highe
Slide 9: Logistics – recovery through Q1 offset challenging start to year
Logistics – recovery through Q1 offset challenging start to year • Nordic down DKK 1m due to the initial Q1 EBITDA* of DKK 101m vs DKK 95m in 2020 negative impact of the Brexit transition, DKK m including higher equipment costs 50 +5 40 -1 +2 • Continent up DKK 2m. Improved result for special cargo
Slide 10: Outlook
Current situation 2021 OUTLOOK Click icon to add picture
Slide 11: EBITDA outlook raised on 23 April, key assumptions adjusted
EBITDA outlook raised on 23 April, key assumptions adjusted Business unit assumptions • Uncertainty remains high: • UK-linked freight activities no longer • Duration of travel expected to perform below 2020 restrictions • Near-term effects of Brexit • Mediterranean expected to improve earnings • Cha
Slide 12: Outlook 2021
Outlook 2021 New Previous DKK m 2020 outlook 2021 outlook 2021 • EBITDA range increased to DKK 3.2-3.6bn Revenue growth 20-25% 20-25% 13,971 EBITDA before special 3,200-3,600 3,000-3,500 2,732 items • Investment outlook includes: Per division: • DKK 0.9bn, HSF Logistics Ferry Division 2,550-2,850 2,
Slide 13: Current priorities 2021
Current priorities 2021 • Integrate HSF Logistics Group successfully • Pursue post-Brexit opportunities • Drive organic freight growth • Increase Mediterranean ROIC • Prepare passenger activities for a post Covid- 19 travel market
Slide 14: Q&A
Q&A