SIGNIFICANT GROWTH DELIVERED

Q4 AND FULL-YEAR 2022 INTERIM REPORT

ANNOUNCEMENT NO. 03/2023

• Revenue in 2022 up 47% to DKK 27bn
• EBITDA up 45% to DKK 5.0bn
• EBITDA outlook of DKK 4.5-5.0bn for 2023 reflects possible economic slowdown
• Dividend of DKK 286m proposed plus DKK 300m share buyback

Q4 2022

• 7% lower ferry emission intensity
• ROIC increased to 8.6%
• Leverage further reduced to 2.8x

OUTLOOK 2023

• EBITDA of DKK 4.5-5.0bn
• Revenue at same level as 2022
• Investments of DKK 1.6bn

"Despite headwind in certain areas, our business performed very well in 2022. As we increase the return of cash to shareholders, we continue to see great potential to strengthen and grow our network further in the coming years,” says Torben Carlsen, CEO.

Q4 revenue increased 17% to DKK 6.5bn driven by the continued recovery in passenger numbers and spending as well as price increases for freight services to cover rising energy and other costs.

Q4 EBITDA before special items increased 18% to DKK 1,084m. The EBITDA for freight ferry and logistics activities increased 5% to DKK 987m driven by higher logistics earnings as the freight ferry result was at the same level as 2021.

The Q4 EBITDA for passenger activities in the Channel, Baltic Sea, and Passenger business units increased to DKK 97m from DKK -20m in 2021. The Q4 passenger EBITDA was 66% above 2019, the latest pre-Covid-19 year.

For the full-year, EBITDA before special items increased DKK 1,544m or 45% to DKK 4,955m as the freight ferry and logistics result increased DKK 588m and the passenger result increased DKK 955m.

Outlook 2023

The outlook for EBITDA of DKK 4.5-5.0bn before special items includes continued growth but also assumes a European economic slowdown, negative impacts from the war in Ukraine, and overcapacity on the Channel. Revenue is therefore overall expected to remain at the same level as 2022. Investments are expected to amount to around DKK 1.6bn, excluding acquisitions.

The outlook is detailed on page 10 in the full report.

Read the Q4 2022 interim report here:

https://www.dfds.com/en/about/investors/reports-and-presentations/q4-report-2022

9 February 2023. Conference call today at 10.00am CET

Register ahead of the call via this link. Access code is mailed after registration.
Follow live-streaming of call via this link.

Contact
Torben Carlsen, CEO +45 33 42 32 01
Karina Deacon, CFO +45 33 42 33 42
Søren Brøndholt Nielsen, IR +45 33 42 33 59
Communications: +45 31 16 28 47

About DFDS

DFDS provides ferry and transport services in and around Europe, generating annual revenues of around DKK 27bn.

To over 10,000 freight customers, we deliver high reliability through ferry & port terminal services and transport & logistics solutions.

For millions of passengers, we provide safe overnight and short sea ferry services.

Our 11,500 employees are located on ferries, terminals, distribution centres, and in offices across 20 countries. DFDS was founded in 1866, headquartered in Copenhagen, and listed on Nasdaq Copenhagen.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

Attachment

• DFDS_NO_03_09_02_2023_Q4_REPORT