Dfds A/s · OMXCOP:DFDS
Dfds A/s — Q2 2012 Earnings Presentation
16 slides from Dfds A/s's earnings presentation, Aug 21, 2012
Slide 1: DFDS Group Q2 2012: Result impacted by new route on Channel and UK recession
Qe 2012 DFDS GROUP RESULT IMPACTED BY NEW ROUTE ON CHANNEL AND UK RECESSION
Slide 2: Guidance 2012 - EBITDA & Special Items Revised
GUIDANCE 2012 - EBITDA & SPECIAL ITEMS REVISED ¢ Expected EBITDA reduced by 11% or DKK 150m ¢ Main driver of lower guidance is start-up of DKK m Annual New | Change in Dover-Calais in Channel: report revised outlook . outlook outlook * EBIT down DKK 60m in H1 2012 * EBIT expected to be reduced by DK
Slide 3: Q2 2012 Highlights
Qe2 2012 HIGHLIGHTS * Q2 Revenue of DKK 3.0bn was 3% below 2011 ¢ Qe EBITDA before special items was DKK 293m, down by 36% from DKK 458m ¢« New route Dover-Calais performed below expectations ¢ UK recession is continuing, and declining demand for transport services is reducing volumes on routes betw
Slide 4: Main Events in Q2 - EBITDA Before Special Items
MAIN EVENTS IN Qe - EBITDA BEFORE SPECIAL ITEMS ¢ North Sea DFDS Group, Q2 2012 - Major variances vs LY — Recession in UK & NL is impacting 500 volumes between UK and Continent — Capacity increase in market between 475 Sweden and UK * Channel — Performance of the freight activities on the new route
Slide 5: Volumes & Capacity
VOLUMES & CAPACITY * Baltic Sea freight volumes up by 6.2% Shipping Q2 2012: Volumes & capacity us LY and 5.7% adjusted for structural ‘ 80% changes - continued support from 70% restrictions on Polish haulage licenses ° 60% * North Sea volumes reduced by UK 50% recession, Capacity expansion by 40% c
Slide 6: Shipping Division, 2012 - EBIT before special items
Shipping Division, 02 2012 - EBIT before special items SHIPPING DIVISION 500 - BU OVERVIEW ” 250 225 ¢ EBIT before special items of DKK 200 —-ll- 109m (DKK 285m} — . DKKAR 6 ¢ North Sea impacted by new 10 capacity Sweden-UK and weakening of UK-Continent 125 130 . 6 — * Baltic Sea impacted by 108 8 1
Slide 7: Logistics Division, 2012 - EBIT before special items
Logistics Division, 02 2012 - LOGISTICS DIVISION EBIT before special items - BU OVERVIEW ¢ EBIT before special items increased to DKK 28m * Continental Transport continued turnaround of operations ¢ European Transport improvement driven by higher level of activity, although Belfast market is weakeni
Slide 8: Channel Performance and Actions
CHANNEL PERFORMANCE AND ACTIONS + Difficult start of new route Dover-Calais: * Channel EBIT around DKK 60m lower than expected in H1 2012 » Freight volumes lower than expected as frequency of initial one-ship schedule did not meet freight market requirements » Expected freight volumes achieved after
Slide 9: DFDS Group - Key Figures
DFDS GROUP DFDS Group - Key Figures change KEY FIGURES DKKm 0212 9211 % Change REVENUE 2.971 3.071 -3,3 -100 EBITDA BEFORE SPECIAL ITEMS 293 458 -36,1 -165 ¢ EBITDA before special items margin, % 99 149 na 51 decreased by 36% vs LY Depreciations 171 -167 2.3 4 reflecting: EBIT BEFORE SPECIAL ITEMS 1
Slide 10: Q2 Revenue Growth
Qe REVENUE GROWTH + Revenue growth: * Channel: Dover-Calais opened and second ship deployed in May * Nordic Transport: New customers DK-UK and development of Baltic traffics * Baltic Sea: Revenue growth on main routes. New routes offset termination of Polferries charter and rail agreement on Sassnit
Slide 11: P&L Q2 2012
P&L Q2 2012 DFDS Group, Qe 2012 - Major variances vs LY ¢ EBITDA reduced by DKK 165m - 325 refer slide 4 300 * Depreciations increased by DKK 3m mainly due to other assets than ships * Special items was a cost of DKK DKK. ; 67m in G2 2012 and an income of e DKK 66m in same period LY -133 ¢ Finance -
Slide 12: Capital and Cash Flow
CAPITAL AND CASH FLOW ¢ Total assets reduced by 5.5% to DKK 12.8bn from O2 2011 * Interestbearing liabilities reduced by DKK 741m from Qe 2011 ¢ Cash flow yield of 4,3% based on 12 market value end of Q2 DFDS Group - Key Figures DKKm Qele Qe2il % Change TOTAL ASSETS 12.813 13.554 55-741 Property, pl
Slide 13: Guidance 2012 - Market Outlook
GUIDANCE 2012 - MARKET OUTLOOK ¢ Freight volumes in the North Sea markets are expected to continue decline driven by weak demand in the UK ¢ Freight volume growth is expected to continue in the Baltic region (Russia, Baltics, Germany, Sweden) at modest positive levels, continued support expected fro
Slide 14: Guidance 2012 - EBITDA & Special Items Revised
GUIDANCE 2012 - EBITDA & SPECIAL ITEMS REVISED ¢ Expected EBITDA reduced by 11% or DKK 150m, driven by the Channel start-up and weakness of the UK market * Special items includes DKK 75m write-down of sideport ships related to bankruptcy of Peterson Paper and utilization of ships in Nordic Contracts
Slide 15: Guidance 2012 - Strategic Priorities
GUIDANCE 2012 - STRATECIC PRIORITIES ¢ Performance of new activities in business unit Channel * Focus on customers ¢ Meeting increased North Sea competition & overcapacity ¢ Execution of contingency, improvement and efficiency projects * Proactive pursuit of growth opportunities 15 £Jorps
Slide 16: Q&A