Danish shipping and logistics company DFDS posted a profit of DKK 1.07bn (USD 151m), up by 89pct when compared to last year’s DKK 571 million.
For the full-year 2015, the group reported revenue increase of 5% to DKK 13.5bn. Organic revenue growth, adjusted for route closures and acquisitions, was 7% mainly driven by 7% higher freight shipping volumes and 8% more passengers. In the fourth quarter, organic revenue growth was 10%.
The profit before tax recorded in Q4 amounted to DKK 178 million, up by 137% from the corresponding DKK 75 million recorded in Q4, 2014, DFDS said.
”2015 was a record year for DFDS. Our aim is now to raise performance further. We have shipping capacity in place to benefit from continued volume growth in our key European markets, and we remain firmly committed to improving customer satisfaction and efficiency,” says Niels Smedegaard, DFDS CEO.
The increase of earnings in 2015 was primarily driven by improved capacity utilisation on the Channel, higher freight and passenger volumes, and more efficient operations, including the installation of scrubbers, the company said.
DFDS expects that the freight and passenger volumes will continue to grow in 2016. The group’s revenue is expected to increase by around 6%, excluding revenue from bunker surcharges.
The company’s Board of Directors plans to distribute a dividend in 2016 of DKK 5.00 per share equal to DKK 300m. To align DFDS’ capital structure to the targeted leverage, a share buyback programme of DKK 650m is launched today comprising a programme of DKK 400m with completion on 24 February 2016 and a programme of DKK 250m to be completed in the six months to 17 August 2016.