DFDS saw year-on-year revenue fall 26% to DKr1.4bn (US$255m) in the first quarter of 2009, down from DKr1.9bn in 2008. Ebitda fell by 44% to DKr79m from DKr140m in the same period last year.
Operating profit from ro-ro shipping fell to DKr115m from DKr181m over the same period and container shipping fell to DKr9m from DKr29m.
"As expected, the first quarter of 2009 was very challenging - our Q1 results are obviously affected by the sharp 20-25% decline in freight volumes that has dominated the whole market," said CEO Niels Smedegaard.
"Progress was, nonetheless, achieved during the quarter in important areas," he added ˇ°We are very pleased that the many initiatives we have implemented seem to be working.
"This, combined with lower oil prices, has led to a profit increase of DKr50m for the passenger activities. We have also improved the margin on our trailer activities and strengthened the cash flow from operations.
"In addition we are pursuing opportunities that arise to improve our long-term market position.
As for the rest of the year, he said, "In recent months, the markets have stabilised somewhat. However, visibility is still exceptionally low, so it is still too early to say whether this is merely a stabilisation or a more sustained improvement.
"As a result, we continue to focus on adapting our costs and activities to market trends, and not least we are keeping a focus on sales."
