Q1 2025 DFDS A/S Earnings Call Transcript
Key Points
- DFDS AS (DFDDF) reported an 8% revenue growth in Q1 2025, driven by the acquisition of the former econ business.
- The company is making progress on its three focus areas: adapting Mediterranean capacity, implementing price increases, and logistics boost projects.
- DFDS AS (DFDDF) has a strong cash flow focus, with a net improvement of working capital by about DKK400 million.
- The company is committed to reducing its financial leverage ratio by the end of the year.
- DFDS AS (DFDDF) is aligning its plans with new greenhouse gas targets and has reduced ferry emissions intensity by 6% in the quarter.
- The Mediterranean segment reported a significant negative impact, with a swing of DKK200 million due to competitive pressures.
- The logistics division's performance was below expectations, primarily driven by challenges in the BU continent.
- The company faces geopolitical risks, including potential European recession and increased political risk in Turkey.
- DFDS AS (DFDDF) is dealing with increased competition and freight capacity in key routes, such as Istanbul-Trieste and Holland-UK.
- The company's leverage ratio has increased compared to the previous quarter, driven by lower earnings and increased net interest-bearing debt.
Ladies and gentlemen, welcome to the DFDS Q1 report 2025 conference call.
(Operator Instructions)
The conference is being recorded.
(Operator Instructions)
At this time, it's my pleasure to hand over to Torben Carlsen, CEO. Please go ahead.
Thank you and good morning and welcome to DFDS' Q1 2025 conference call.
I am joined here as usual by Karen Boesen, our CFO; and Søren Brøndholt, our Head of IR.
Our Q1 report headline is that our 2025 transition is progressing. As you may recall, we labeled 2025 a transitional year in our latest annual report.
So 2025 is a year where we lay the groundwork for improving financial performance following the events of 2024. I'm pleased to report that the earnings trend improved towards the end of the quarter following execution of multiple turnaround actions during the quarter.
There is still a lot of work to be done, and further actions are being executed
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