DFDS is raising its full-year expectations on the back of strong passenger numbers, even as the freight market falters.
The Danish ro-ro and ferry operator reported a DKK 693m ($101m) profit for the three months to 30 September, down from the DKK 853m recorded in the same period last year, though the company pointed out that Ebitda was in line at roughly DKK 1.6bn.
The performance was enough for the company to ratchet the low end of its 2023 Ebitda outlook from DKK 4.8bn to DKK 4.9bn, while the top end remains at DKK 5.2bn.
“We have firmed up our outlook on the back of a solid quarter, not least a very good passenger result,” chief executive Torben Carlsen said.
“Freight markets are currently challenging and we continue to adapt our ferry and road capacity to optimise utilisation.”
The company moved 9.5m lane metres of vehicles for the quarter, down from 9.9m a year earlier, as volumes dipped in the Baltic Sea and English Channel regions.
DFDS said higher freight earnings year over year helped offset the dip in volumes, as revenue from the segment came in at DKK 3m versus DKK 3.5m.
Passenger numbers
Passenger revenue was DKK 1.5m, up from DKK 1.3m as the number of passengers transported rose to 1.8m from 1.7m.
The company said passenger numbers on the Norway-Denmark and Netherlands-UK routes were on a level with 2019.
The trend in both segments continued into the fourth quarter, with freight lane metres falling further in October, while passenger volumes continued to outpace last year.
The company said it moved 3.4m lane metres in October, down from 3.5m year-over-year, while passengers hit 344,000 for the month, up from 330,000.
