August 154, 2019
In Q2, revenue increased 9% to DKK 4.2 billion and EBITDA before special items increased 4% to DKK 989 million. In H1, revenue increased 10% to DKK 8.1 billion and EBITDA before special items increased 8% to DKK 1.7 billion.
The growth in revenue and earnings in Q2 was mainly driven by the expansion in the Mediterranean and higher passenger revenue. A reversal of the UK stockpiling in Q1 lowered freight revenue and earnings in Q2 for most activities linked to UK trade. The latter was mitigated by income from an agreement with UK Department for Transport.
Torben Carlsen, CEO, commented, “Brexit is an exceptional situation
currently lowering volumes in our ferry and logistics network. In spite of this headwind, we are still on track to continue our growth this year. The work to deliver on our new strategic and financial ambitions has started and progress is well under way.”
In the Mediterranean region, a new freight ferry (Ro-Ro) route between Istanbul, Turkey, and Sète, France, opened 5 July 2019. The route deploys
two freight ferries.