DFDS Group (DFDDF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, welcome to the DFDS Q1 Report 2025 conference call. I am Hili, the chorus call operator. I would like to remind you that all participants will be in listen-only mode and the conference is being recorded. The presentation will be followed by a Q&A session. You can register for questions at any time by pressing star and 1 on your telephone. For operator assistance, please press star and zero. The conference must not be recorded for publication or broadcast. At this time, it's my pleasure to hand over to Torben Carlsen, CEO. Please go ahead. Thank you, and good morning, and welcome to DFDS's Q1 2025 conference call. I am joined here, as usual, by Karen Bosen, our CFO, and Søren Bonnhold, our head of IRR. Our Q1 report headline is that our 2025 transition is progressing. As you may recall, we labeled 2025 a transitional year in our latest annual report. So 2025 is a year where we lay the groundwork for improving financial performance following the events of 2024. I'm pleased to report that the earnings trend improved towards the end of the quarter following execution of multiple turnaround actions during the quarter. There is still a lot of work to be done and further actions are being executed as we speak. When we report Q2 in August, the improving earnings trends should become more visible. In a moment, I'll give you my view of the current geopolitical events and macro trends and how they can impact DFJS. With our exposure to high-growth net-shoring markets, we believe DFTS is well positioned for what seems to be a de-globalization trend. Before we start, let me highlight our focus on financial solidity. Karen will take you through the details, but we do expect to end the year with a financial leverage ratio that is below the current level. Let's ...