Great year for DFDS Seaways
DFDS experienced growth in both revenue and result of profit before taxes in 2017. The company experienced a similar situation in the fourth quarter of the year. Revenue increased in 2017 from 13.8 billion Danish kroner to 14.3 billion Danish kroner. Profit before tax was 1.72 billion while the number was 1.60 billion the preceding year.
"We are very pleased to receive another great result to round off a year of stable progress. This is a great starting point for further development of the company. We are going to invest more heavily in our digital skills and we are spending more time focusing on the future opportunities new business models and technologies can offer. As of now, the markets look robust in 2018 and we predict that Europe's growth will mitigate the inevitable uncertainty that the Brexit negotiations will bring with it" says Niels Smedegaard, CEO.
For the entire year, revenue increased by 4 percent adjusted for non-comparable posts, and the reported revenue also increased by 4 percent with an end result of 14.3 billion kroner. Profit before special posts and taxes increased 8 percent to 1,727 million Danish kroner.
Allocation to shareholders increased 32 percent to 1.7 billion in 2017, which is compares to 9 percent in total allocation yield. The allocution consisted of a dividend of 555 million Danish kroner and share repurchase of 1,106 million Danish kroner.
The dividend is expected to increase by 10 per cent in 2018 to 11.00 Danish kroner per share. A new share repurchase of 400 million Danish kroner is today being launched for liquidation over the next six months. Later in the first half of 2018, the board will review the capital structure, including further withdrawals, keeping potential investments in mind.
In the fourth quarter of 2017, revenue increased by 4 percent to 3.50 billion in comparison to a result of 3.35 billion during the same period in 2016. Profit before taxes increased by 29 percent from 268 million to 346 million.
DFDS Seaways are expecting a growth of approximately two percent in revenue in 2018. Profit before tax and special posts is expected to be somewhere between 2,650 to 2,850 million Danish kroner. Investments are expected to hit 1.1 billion Danish kroner.
Source: DFDS / Maritime Denmark