DFDS Group (DFDDF) Q2 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.416 The headline of our Q2 report is that the result was lowered by Mediterranean 00:00:05.416 -- 00:00:07.218 headwinds. 00:00:07.218 -- 00:00:12.422 On the one hand, the result for most of our network was broadly in line with 00:00:12.422 -- 00:00:14.422 our 00:00:15.065 -- 00:00:19.929 . As I said before, the underlying strength of our network is intact. 00:00:19.929 -- 00:00:24.574 On the other hand, the adaptation of our Mediterranean ferry business and the turnaround 00:00:24.574 -- 00:00:29.830 of logistics in Turkey and Europe South progressed in Q2, 00:00:29.830 -- 00:00:32.934 but with less speed than expected. 00:00:32.934 -- 00:00:37.641 As you know, this led us to update our earnings outlook with the range introduced 00:00:37.641 -- 00:00:41.105 with a lower midpoint than previously expected. 00:00:41.105 -- 00:00:46.132 This is, of course, not a satisfactory situation, but I do take comfort from the 00:00:46.132 -- 00:00:50.038 actions that, as we speak, are being rolled out to speed up the recovery. 00:00:50.038 -- 00:00:55.225 I also take comfort from the solid progress we made on our logistics boost projects. 00:00:55.225 -- 00:00:59.620 We'll report more on progress and actions as we go through the slides. 00:00:59.620 -- 00:01:06.046 Let's start with an overview of our market environment and the Q2 results. 00:01:06.046 -- 00:01:10.248 If you turn to page three, 00:01:12.572 -- 00:01:15.374 we just 00:01:15.374 -- 00:01:21.600 repeat our moving together towards 2030 strategy with 00:01:21.600 -- 00:01:26.925 the five pillars, the green transition, and the commitment to reaching our goals 00:01:26.925 -- 00:01:32.201 there. plus the focus on reduction of leverage, 00:01:32.201 -- 00:01:34.786 reduction of debt, 00:01:...