DFDS A/S
JOINT VENTURE WITH LOUIS DREYFUS ARMATEURS COMPLETED
DFDS A/S 26.09.2012 09:30 Dissemination of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Copenhagen, 2012-09-26 09:30 CEST (GLOBE NEWSWIRE) -- Announcement no. 24/2012 -- Joint venture to support development of a long term, sustainable operation on the Channel -- New business unit established to develop Mediterranean route and drive sales of DFDS' northern European network services in France and Spain -- DKK 100m of revenues added in Q4 2012 The joint venture will support the development of a long term, sustainable operation on the Channel with primary focus on the freight market, and expand DFDS' presence in the significant French transport market. Joint venture completed DFDS and Louis Dreyfus Armateurs (LDA) have today completed a joint venture agreement and formed a new company combining DFDS' Channel operations and LD Lines' ferry operations. DFDS' ownership share of the new company will be 82% and LDA will own 18%. The joint venture is expected to add around DKK 100m of revenue in Q4 2012, while the profit impact in the same period is not expected to be material. New business unit The activities of LD Lines will be integrated partly in the existing business unit Channel, and partly in a new business unit France & Mediterranean: Channel France & Mediterranean -------------------------------------------------------------------------------- Routes · Dover-Dunkirk · · Dover-Calais Marseille-Tunis · Portsmouth-Le Havre · Newhaven-Dieppe* -------------------------------------------------------------------------------- Ships 7 ro-pax (4 owned, 3 1 ro-ro (chartered) chartered) -------------------------------------------------------------------------------- Freight, lanemetres, '000 11,500 200 -------------------------------------------------------------------------------- Passengers, '000 4,000 N.a. -------------------------------------------------------------------------------- Sales and port agencies · Dover · Calais · Newhaven · Dieppe · Portsmouth · Dunkirk · Le Havre · Marseille · Valencia -------------------------------------------------------------------------------- Estimated revenue (year 1), 1,600 100 DKK m -------------------------------------------------------------------------------- *Route concession until 2014. The new business unit is responsible for managing the Mediterranean route between Marseille and Tunis, and providing sales and customer services for the Channel routes in France and Spain, thereby contributing to increasing the market share in these markets. In addition, the new business unit is responsible for driving the sale of the freight and passenger services of DFDS' entire route network in France and Spain. Integration kicked off The planned integration process has now been kicked off and is expected to be completed by the end of 2013, including integration of all business systems. The integration is expected to enhance operational efficiency as LD Lines' operations are transferred to DFDS' business systems and groupwide functional services (it, finance, HR, technical). Management Carsten Jensen will continue as head of business unit Channel while Christophe Santoni assumes responsibility for the new business unit France & Mediterranean. Christophe Santoni was previously Managing Director of LD Lines. Contact persons Niels Smedegaard, CEO +45 33 42 34 00 Torben Carlsen, CFO +45 33 42 32 01 Søren Brøndholt Nielsen, IR +45 33 42 33 59 News Source: NASDAQ OMX 26.09.2012 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: DFDS A/S Denmark Phone: Fax: E-mail: Internet: ISIN: DK0010259027 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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