Slide 1: Significant growth delivered
Significant growth delivered Q4 & FY 2022 investor call 9 February 2023
Slide 2: Content
Content • 2022 overview • Results Agenda • ESG update • 2023 distribution and 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: Strong earnings growth in 2022 despite headwind in certain areas
Strong earnings growth in 2022 despite headwind in certain areas • Full-year EBITDA up 45% to DKK 5.0bn 2022 EBITDA development vs LY for 2022 DKK m 5,500 • In line with Win23 DKK 5.0bn earnings target for 2023 5,000 -41 4,500 955 • Growth driven by return of passengers and full-year impact of HSF a
Slide 4: Revenue lifted by both organic growth and acquisitions
Revenue lifted by both organic growth and acquisitions • Passenger up DKK 2.0bn from 2.9m Change in revenue, 2022 vs 2021 DKK m returning passengers and higher average 29,500 spend 27,500 2,789 • Freight ferry increased by bunker surcharges as organic growth was offset 25,500 1,611 by lower Dover St
Slide 5: 2022 income statement – bottomline doubled
2022 income statement – bottomline doubled DFDS Group P/L • EBITDA increased in both divisions, DKK m 2021 2022 Δ Δ Revenue 18,279 26,873 8,594 47% Group margin lowered by higher share of logistics revenue EBITDA* 3,411 4,955 1,544 45% Margin 18.7% 18.4% -0.2% • Depreciation up DKK 418m due Ferry Di
Slide 6: Returns improved above target and capital structure back in target range
Returns improved above target and capital structure back in target range DKK bn 2021 2022 Δ Δ • ROIC increased to 8.6% and ROE increased Returns to 16.4% Invested capital, end 25.4 27.6 2.2 9% ROIC before special items 5.2% 8.6% 3.4% n.a. Return on equity 8.7% 16.4% 7.7% n.a. • Capex increased by fe
Slide 7: Interest-bearing debt overview
Interest-bearing debt overview • Interest-bearing debt of DKK 11.0bn, Interest-bearing debt, excl lease liabilities, 2022 excluding IFRS 16 lease liabilities • Fixed interest debt around 40% of total 40% • Bond financing expired replaced with 44% bridge until end 2023 • Investment grade rating obtai
Slide 8: Q4 EBITDA lifted by Logistics and passenger recovery
Q4 EBITDA lifted by Logistics and passenger recovery Q4 EBITDA before special items DKK m • DFDS Group revenue up 17%, EBITDA 2022 1,084 up 18% to DKK 1.1bn 2021 915 • Ferry freight EBITDA on level due to 2020 769 Channel overcapacity and one-off 2019 771 items in Mediterranean 0 200 400 600 800 1,0
Slide 9: Ferry revenue and EBITDA growth boosted by return of passengers
Ferry revenue and EBITDA growth boosted by return of passengers Q4 EBITDA* per business unit • Q4 in line with expectations, except DKK m 400 for one-off cost in Mediterranean 300 200 • Solid full-year growth achieved by 100 North Sea and Mediterranean 0 -100 North Sea Mediterranean Channel Baltic S
Slide 10: Logistics boosted by improved cost coverage and acquisitions
Logistics boosted by improved cost coverage and acquisitions • Q4 as expected for Dry Goods, reduced DKK m Q4 EBITDA* per business unit Cold Chain export volumes to the UK 175 150 • Cost coverage improved through 2022 125 100 75 • Growth for warehousing and customs 50 clearance 25 0 Dry Goods Cold C
Slide 11: Key ESG actions
Key ESG actions • Ferry CO2 emission intensity reduced 7% in Q4 across ferry network – 4% full-year reduction • Design of next generation ferry fuel and propulsion concepts ongoing • 25% of electricity from own solar panels or backed by green certificates • 98% of trucks now Euro 6 emission standard
Slide 12: Distribution & Outlook
Current situation 2023 DISTRIBUTION & OUTLOOK Click icon to add picture
Slide 13: Total capital distribution increased 27% to DKK 586m
Total capital distribution increased 27% to DKK 586m • Capital distribution increased Distribution to shareholders, DKK m Dividend per share, DKK 2018 4.00 2019 4.00 2020 0 2021 0 2022 8.00 2023* 5.00 based on financial position Dividend, ex. treasury shares 219 229 0 0 462 286 and growth prospects
Slide 14: Outlook 2023 reflects continued growth, but also headwind
Outlook 2023 reflects continued growth, but also headwind • Slowdown in European economy DKK m Outlook 2023 2022 assumed Revenue growth On level 26,873 EBITDA before special items 4,500-5,000 4,955 • Continued growth expected for passenger and certain freight activities Per division: Ferry Division
Slide 15: Outlook 2023 reflects continued growth, but also headwind
Outlook 2023 reflects continued growth, but also headwind • Capex expected to comprise Operating DKK m Outlook 2023 2022 Capex of DKK 1.6bn Revenue growth On level 26,873 EBITDA before special items 4,500-5,000 4,955 • No ferry purchase/sale/new-buildings expected Per division: Ferry Division 3,350-
Slide 16: Key priorities going into 2023
Key priorities going into 2023 • Adaptation of capacity to demand changes – as always DFDS strategy • Organic growth • Inorganic growth through M&A and other initiatives • Cash flow generation • Automotive • Easy access for • Mediterranean • Develop on • Climate Action Plan customers business plan b
Slide 17: Q&A
Q&A