DFDS lowers EBIT 2024 outlook range but maintains cash flow outlook
FinanceDFDS’ EBIT outlook range for 2024 has been lowered following a Q2 2024 result below expectations. The level of freight activity in the rest of the year is moreover expected to be below previous expectations.
The EBIT 2024 outlook range is consequently lowered to DKK 1.7-2.1bn from previously DKK 2.0-2.4bn.
The revenue growth 2024 outlook of 8-11% is unchanged as is the Adjusted free cash flow outlook of around DKK 1.5bn.
DFDS’ Q2 2024 interim report will be released on 14 August 2024 at around 7.30am CET.
DFDS share buyback transactions
On 9 February 2024, DFDS A/S announced the initiation of a share buyback programme to be executed.
Under the programme, DFDS will repurchase own shares of up to DKK 431m during the period from 12 February 2024 to 31 December 2024. A maximum of 3,400,000 shares will be repurchased. These limits include shares purchased under the Safe Harbour rules as well as shares purchased from Lauritzen Fonden Holding ApS on a pro rata basis to the shares purchased in the programme under a separate agreement with DFDS outside the Safe Harbour Rules.
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