DFDS Group (DFDDF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

The headline of our Q2 report is that the result was lowered by Mediterranean headwinds. On the one hand, the result for most of our network was broadly in line with our . As I said before, the underlying strength of our network is intact. On the other hand, the adaptation of our Mediterranean ferry business and the turnaround of logistics in Turkey and Europe South progressed in Q2, but with less speed than expected. As you know, this led us to update our earnings outlook with the range introduced with a lower midpoint than previously expected. This is, of course, not a satisfactory situation, but I do take comfort from the actions that, as we speak, are being rolled out to speed up the recovery. I also take comfort from the solid progress we made on our logistics boost projects. We'll report more on progress and actions as we go through the slides. Let's start with an overview of our market environment and the Q2 results. If you turn to page three, we just repeat our moving together towards 2030 strategy with the five pillars, the green transition, and the commitment to reaching our goals there. plus the focus on reduction of leverage, reduction of debt, non-core asset review, and working capital initiatives that Karen will talk more about. On page four, the geopolitical market and competitor environment on the U.S., Tariff talks, the disruptions are settling down some. The Ukraine war on certainty unfortunately continues. Germany's commitment to lifting infrastructure defense investments have not yet shown in the market, but will come. All in all, the nearshoring outlook is positive. Companies do move production closer and manufacturing closer to their customer base in Europe, either Eastern Europe clusters, Turkey, North Africa. The markets in Europe still experi...