DFDS profits £321 million, reports a record year

Tuesday, February 13, 2018

After releasing annual results revealing operating profit of £321 million, ferry operator DFDS reported a record year for 2017.

Despite the ongoing uncertainty caused by Brexit the ferry company said that its operation across the Europe continued to grow.

Chief executive and president Niels Smedegaard said that in spite of the Brexit issue, and the delayed Brexit agreement between the UK and EU, we see that the UK’s economy is still growing but at a slower pace.

The Danish ferry operator saw its North Sea freight volumes grow by 7% in 2017 as per Smedegaard.

Brexit did not change their  confidence about the future and the official expectation is that the UK economy will keep growing (although at a slower pace).

The EU economy is also predicted to grow and both parties depend on trade.

The  export volumes in the UK, the largest source market, continued to grow at a high rate  while import volume growth slowed due to reduced car imports.

The UK passenger demand was stable in the fourth quarter of last year.

DFDS expects revenue to increase by “around 2%” in 2018 excluding acquisitions and the  company-wide investments are expected to amount to around 1.1bn Danish Krona.

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