DFDS EXPANDS FERRY NETWORK TO STRAIT OF GIBRALTAR
COMPANY ANNOUNCEMENT no. 31 - 17 September 2023 Acquisition of FRS Iberia/Maroc, a ferry market leader Strait of GibraltarMediterranean route network expands to market expected to benefit from nearshoring of supply chainsFRS Iberia/Maroc has 750 employees and expects revenue of DKK 1.0-1.2bn in 2023 with an expected EBITDA-margin of 18-20%Transaction enterprise value equals an EV/EBITDA multiple of 6xAccretive to ROIC and earnings per shareFinancial leverage stable with expected increase of 0.1x
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