DFDS cancels Turkish acquisition, lowers forecast

DFDS has abandoned the acquisition of Ekol Logistics’ international network, originally agreed upon in April for 1.9 billion DKK, due to unmet conditions. Consequently, the company will not partake in Ekol Logistics’ annual turnover of 3.5 billion DKK. DFDS also reduced its operating income expectations for the year from 1.7-2.1 billion DKK to 1.5-1.7 billion DKK, citing a slowdown in Europe and intensified competition in North European land transport and Mediterranean freight ferry markets. The current market conditions are expected to persist for the rest of the year, contrary to the previous anticipation of a rise in activity levels. With the failed purchase, DFDS now projects revenue growth of 8-10 percent for 2024, slightly down from the initial 8-11 percent estimate.