Company announcement no. 8/2020
DFDS’ outlook for 2020 has been suspended following further restrictions on intra-European travel and general lock-down measures across
As a consequence of the restrictions, two passenger routes —
Passenger ferry services generated around 16% of DFDS’ total revenue of
The majority, 84%, of DFDS’ total revenue is thus generated by freight activities, including freight ferry services and logistics solutions.
As anticipated in the outlook for 2020, freight volumes linked to
The result for the first two months of 2020 was overall in line with expectations.
Until now freight activity has been in line with expectations but has started to decrease as manufacturing plants suspend operations and demand in general is impacted by the lock-downs. Contingency planning to mitigate effects of changes in demand and operations for both ferry and logistics activities is ongoing across DFDS’ network.
Outlook and dividend suspended
The further restrictions on intra-European travel and general lock-down measures have significantly reduced financial visibility and the outlook for 2020 is therefore suspended.
The outlook will be updated once it is possible to assess the financial impact of Covid-19. Among other things, more visibility on the duration of the lock-downs and demand development post the lock-downs is required.
In view of the reduced financial visibility, the Board of Directors has decided not to propose the payment of a dividend at the annual general meeting to be held in
DFDS reports Q1 2020 on
Contact
Søren Brøndholt Nielsen, IR +45 33 42 33 59
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Attachment
- UK_OMX_NO_8_18_03_2020
© OMX, source