Revenue growth of 4%, adjusted
· EBITDA outlook of DKK 2.6-2.8bn
· Investments of DKK 0.9bn plus expected payment of
DKK 0.8bn for two Channel-ferries
"We have raised our earnings level considerably during 2016. Nontheless, our
pursuit of improvement will continue. We are especially excited about exploring
digital opportunities to improve customer satisfaction and operational
efficiency," says Niels Smedegaard, CEO.
Key figures
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DKK m Q4 Q4 FY FY
Before special items 2016 2015 Chg. % 2016 2015 Chg. %
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Revenue 3,351 3,324 0.8% 13,790 13,473 2.4%
EBITDA 513 418 22.6% 2,588 2,041 26.8%
EBIT 271 201 34.8% 1,644 1,199 37.0%
Profit before tax 268 178 50.2% 1,600 1,079 48.4%
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Revenue increased by 6% in Q4 adjusted for currency changes and excluding
revenue from bunker surcharges. Reported revenue was up by 1% to DKK 3.4bn.
EBITDA before special items increased in Q4 by 23% to DKK 513m following higher
earnings in primarily the Shipping Division.
Revenue increased for the full-year by 8% adjusted for currency changes and
excluding revenue from bunker surcharges. Reported revenue was up by 2% to DKK
13.8bn.
EBITDA before special items increased for the full-year by 27% to DKK 2,588m
following higher earnings in primarily the Shipping Division.
The Shipping Division's route network carried 17% higher freight volumes and 6%
more passengers in Q4. The full-year growth rates were 21% and 12% respectively.
Increased distribution to shareholders
DFDS' Board of Directors has decided to increase the distribution to
shareholders in light of the higher level of earnings and alignment of the
financial leverage to the policy on capital structure and distribution.
The proposed dividend is increased by 33% to DKK 8.00 per share and two share
buybacks totalling DKK 800m are launched for completion on 21 February and 15
August respectively. See page 6 and separate announcement for details.
Outlook 2017
The Group's revenue growth is expected to be around 4%, excluding revenue from
bunker surcharges.
The Group's EBITDA before special items is expected to be within a range of DKK
2,600-2,800m (2016: DKK 2,588m).
Read the Interim Report Q4 2016:
https://www.dfds.com/Downloadables/DFDS_Interim_Report_Q4_2016.pdf
Read more about Q4 here:
http://bit.ly/2lhMmIs
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