Danish transport and logistics group DFDS reported a decline in profitability for the full year 2025, with its key logistics division posting an operating loss. The Logistics Division posted revenue of DKK 15.6 billion, while EBIT was negative DKK 30 million, compared to a profit of DKK 200 million a year earlier. The ferry business remained profitable, posting EBIT of DKK 791 million on revenue of DKK 15.3 billion, although the result also declined. The company attributes the deterioration to market disruptions, declining demand in Northern Europe, problems in the Turkish transport market, and the impact of the war in Ukraine on freight flows in the Baltic region.
Development of the TES Logistics division, created following the acquisition of Ekol International Transport in 2024, remains a key focus of the strategy. DFDS notes the increased uncertainty surrounding the achievement of TES’s expected results, which is taken into account when valuing its assets. The company describes the Baltic market as structurally challenging due to excess ferry and road capacity, so its response includes a capacity charter agreement with TT-Line, effective October 2025. Meanwhile, traffic between Europe, Turkey, and North Africa is expected to continue to grow.
Amid declining profits, DFDS launched a 300 million kroon savings program in November 2025, affecting approximately 400 employees; the effects are expected in 2026. Despite the loss, net interest debt decreased to 15.3 billion kroons, but the leverage ratio increased to 4.1x NIBD/EBITDA due to falling profitability. The company aims to reduce the ratio below 4.0x in 2026 and return the logistics business to profitability – expected EBIT is CZK 50–150 million, and the overall group EBIT is forecast at CZK 800–1,100 million with revenue approximately at the 2025 level.