DFDS Group (DFDDF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, welcome to the DFDS Q1 Report 2026 conference call. I am Shari, 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 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 0. The conference must not be recorded for publication or broadcast. At this time, it's my pleasure to hand over to Mrs. Karen Bersen, CFO and Interim CEO. Please go ahead. Thank you, and good morning, and welcome to the DFDS Q1 2026 conference call. I'm joined here by Søren Brunholt, our head of the IR. Earlier this year, we labeled 2026 a turning point for DFDS. And I'm pleased to report today that our Q1 result confirms that this is the case. We're turning around and making steady progress on transitioning DFDS to a higher level of financial performance. In addition, we're also making progress on improving our financial leverage. And as you may have seen this morning in the Q1 report, we have firmed up our full year expectation for the adjusted free cash flow as well. So we'll now dive into a presentation of the numbers and We'll start looking at slide three. As mentioned, we have communicated our six turning point actions that are pivotal to our recovery from the unsatisfactory 2025. The six turning points are Mediterranean capacity reduction and pricing models, so a recovery from our BUMED situation, generally freight ferry pricing optimization, ramp up and improvement of our Jersey result that we started last year, logistic boost projects continuing to improve with a full year impact, the cost program that was announced in November last year, and then our test...