Danish shipping company DFDS achieved DKK29.8 billion (US$4.2 billion) in revenues in 2024, a nine per cent increase from 2023.
DFDS also posted EBIT of DKK1.5 billion (US$210 million) and an adjusted free cash flow of DKK1 billion (US$140 million) in 2024, and financial leverage (i.e., the ratio of net income before depreciation to EBITDA) increased nearly four-fold in the same period.
However, the company said there are specific challenges that need to be resolved in 2025 before a satisfactory earnings level can be attained.
DFDS CEO Torben Carlsen said 2024 was "an eventful year" marked by "positive organic growth" and continuation of building strong customer relationships.
"We expanded our network, notable in the Strait of Gibraltar, and with the international network of Turkey-based Ekol Logistics," added Carlsen. "We were also awarded a 20-year contract to provide ferry services to Jersey in the Channel Islands."
"We also made the difficult decision to part ways with the Oslo-Copenhagen route to further sharpen our strategic focus on our core business within freight, passenger transport and logistics."
DFDS' profit outlook for 2025 reflects muted expectations for European economic growth and three specific focus areas to resolve in 2025. The company also expects group EBIT in 2025 to be around DKK1 billion, compared to DKK1.5 billion in 2024.