Shipping company DFDS upgraded its outlook for the full year on the back of strong revenue growth of 67% due to passengers returning much faster than expected and higher freight earnings, increasing EBITDA by 63%.
CEO Torben Carlsen said: “We delivered an excellent set of results for the second quarter with EBITDA increasing 63%. We are very satisfied with our performance across all business units, which demonstrates the resilience of our business and our ability to adapt to difficult market conditions. We improved our Logistics operating margins and delivered strong cash flow.
“In Ferry, volumes increased 4.1% driven by continued growth in Turkish exports to Europe, as well as an increase in capacity on our routes between Turkey and France and Turkey and Italy. We also saw passenger traffic return faster than expected as people were eager to travel again. Ferry travel also benefited from airline travel disruptions.”
While the current macroeconomic situation and continue, supply chain constraints create uncertainty regarding economic growth expectations in 2022, demand for freight services, which include to and from Grimsby and Immingham, remains robust. As a result, DFDS now expects to grow revenue by around 40% in 2022. This is based on the strong performance for the first half of 2022, higher bunker surcharge revenue, and continued recovery in passenger volumes.
