DFDS, one of Europe’s largest ferry operators, has announced a series of management changes and cost-cutting measures following the release of disappointing third-quarter financial results.
The company had previously stated that 2025 would be a transitional year, laying the groundwork for future improvement. Now, DFDS is implementing organizational adjustments, expense reductions, and a leadership transition as it prepares for the next phase of its strategy.
📉 Decline in Profit and Revised Outlook
According to the latest financial report, EBIT dropped by 32% year-on-year, despite a 4% increase in revenue. However, underlying business performance declined by 2% compared to the same quarter last year.
DFDS emphasized that its key priorities include strengthening logistics operations, adapting its Mediterranean ferry network through a new pricing model, and refocusing operations in Turkey and Southern Europe. The company noted that profit growth in these regions remains slower than expected, due to challenging market conditions.
Citing continued uncertainty in Q4, DFDS lowered its full-year EBIT forecast, primarily due to volatility in Mediterranean ferry services and logistics operations.
👔 CEO Transition
Current CEO Torben Carlsen is stepping down, and the Board of Directors has initiated a search for his successor, who will lead DFDS into the next strategic phase. Carlsen will remain in his role during the transition period.
Carlsen joined DFDS in 2009 as Executive Vice President and CFO before being appointed President and CEO in 2019. During his tenure, he oversaw several key acquisitions, including Norfolkline (2010) and UN RoRo (2018), expanding DFDS’s network into the Mediterranean.
He also served as Chairman of Danish Shipping for the past three years, represented the organization at the European Community Shipowners’ Associations (ECSA), and sat on the Interferry board.
💼 Cost-Reduction Program
To accelerate profit growth in 2026, DFDS is launching a cost-reduction initiative that includes approximately 400 job cuts, primarily in office functions.
The company currently employs around 16,500 people. The new measures are expected to reduce costs by about DKK 300 million (≈USD 46 million), with implementation costs of around DKK 100 million (≈USD 15.5 million) to be recorded in Q4 2025.
