DECEMBER: FREIGHT VOLUMES END 2025 ON FIRMER NOTE

Core Insights - The total freight volumes in December 2025 reached 3.0 million lane metres, which is 1.2% higher than 2024 but 0.4% lower when adjusted for route changes [1] - The full-year growth rates for freight volumes were -0.1% and -1.8% when adjusted for route changes [1] - The total transported freight lane metres in 2025 decreased by 0.1% to 41.5 million from 41.5 million in 2024, and decreased by 1.8% when adjusted for route changes [2] Freight Volumes - North Sea volumes exceeded 2024 levels due to increased volumes on most routes [1] - Mediterranean volumes were below 2024 expectations due to capacity reductions [1] - Channel volumes were driven by new Jersey volumes, while total Dover Strait volumes remained level with 2024 [2] - Baltic Sea volumes were slightly below 2024, and Strait of Gibraltar volumes were above 2024 [2] Passenger Volumes - The number of passengers in December 2025 decreased by 2.7% to 329,000 compared to 2024, with a full-year growth rate of -4.4% [3] - The decline in December was primarily attributed to lower volumes on the Strait of Gibraltar [3] - The total number of passengers in 2025 decreased by 21.1% to 5.2 million from 6.6 million in 2024, with a 4.4% decrease when adjusted for route changes [3] Adjustments and Changes - Adjustments for route changes include the sale of the Oslo-Frederikshavn-Copenhagen route in October 2024, exit from the Tarifa-Tanger Ville route in May 2025, and the addition of Jersey routes from March 2025 [4] DFDS Ferry Volumes - In December 2025, freight volumes were reported at 2,961,000 lane metres, a 1.2% increase from 2024, while the last 12 months showed a slight decrease of 0.1% [5] - Passenger volumes in December 2025 were reported at 340,000, a decrease of 12.1% from 2024, with the last 12 months showing a 21.1% decrease [5] Company Overview - DFDS operates a transport network in Europe with an annual revenue of DKK 30 billion and employs 16,500 full-time staff [7] - The company provides transport solutions for goods via ferry, road, and rail, as well as passenger transport on short sea and overnight ferry routes [7]