JOINT VENTURE WITH LOUIS DREYFUS ARMATEURS COMPLETED
9/26/2012 3:30 AM EST
DFDS A/S
Company Announcement
JOINT VENTURE WITH LOUIS DREYFUS ARMATEURS COMPLETED
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
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Routes · Dover-Dunkirk ·
· Dover-Calais Marseille-Tunis
· Portsmouth-Le Havre
· Newhaven-Dieppe*
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Ships 7 ro-pax (4 owned, 3 1 ro-ro (chartered)
chartered)
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Freight, lanemetres, ‘000 11,500 200
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Passengers, ‘000 4,000 N.a.
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Sales and port agencies · Dover · Calais
· Newhaven · Dieppe
· Portsmouth · Dunkirk
· Le Havre
· Marseille
· Valencia
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Estimated revenue (year 1), 1,600 100
DKK m
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*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