Business, Freight News, Sea

Competition blunts DFDS profits

[ March 4, 2013   //   ]

The cost of starting up its new Dover-Calais route and the emergence of North Sea Ro Ro as a competitor on its established Immingham-Sweden route contributed to a 27% fall in earning at DFDS, the company announced on 28 February. However, “a ray of light is the Baltic region and Russia, where there is still growth,” says DFDS’ CEO Niels Smedegaard.

He added that a strong cash flow of DKK 0.9bn “shows that DFDS is a robust business, even in a headwind.” The company remained in a strong position, “and we aim to grow further through acquisitions during 2013 to strengthen and expand our European network. At the same time, we are maintaining focus on streamlining and improving our operation.”