Danish ro-ro giant DFDS has restated a higher profit for the third quarter as it complies with IFRS 16 accounting regulations.
It is adopting the standard from 1 January this year and issued an updated EBITDA figure of DKK 3.5bn ($533.5m) for the three months to 31 October last year.
This is up from DKK 2.9bn under the old rules.
The shipowner said the move changes the way it accounts for all lease contracts, including operating leases for ships and terminals.
Lease payments for such assets are being converted from operating costs to depreciation and interest expenses.
Terminals and ships comprise 66% and 22% of the balance sheet change, respectively.
