DFDS reported softer freight and passenger volumes for November 2025, according to Investor News no. 39, published on 12 December.

Ferry – freight

• Total volumes in November 2025 of 3.6m lane metres were 1.8% below 2024 and 3.8% lower adjusted for route changes. YTD growth rates were -0.4% and -1.8%, respectively.
• North Sea volumes were below 2024 following soft volumes on most routes.
• Mediter-ranean volumes were as expected below 2024 due to capacity reductions.
• Channel volumes were on level with 2024 as the new Jersey volumes offset a slow-down in the total Dover Strait volumes. Baltic Sea and Strait of Gibraltar volumes were both above 2024.

For the last twelve months 2025-24, the total transported freight lane metres increased 0.1% to 41.5m from 41.4m in 2024-23 and decreased 2.1% adjusted for route changes.

Ferry – passenger

• The number of passengers in November 2025 was adjusted for route changes* down 10.5% to 195k vs 2024 and the adjusted YTD growth rate was -4.5%.
• Higher passenger volumes in Strait of Gibraltar were offset by mainly lower Channel volumes.
• The number of cars in November was 6.8% below 2024 adjusted for route changes.

For the last twelve months 2025-24, the total number of passengers decreased 19.7% to 5.3m compared to 6.6m for 2024-23. The decrease was 5.5% adjusted for route changes*.

*Adjusted for sale of Oslo-Frederikshavn-Copenhagen end October 2025, exit from Tarifa-Tanger Ville early May 2025, and addition of Jersey routes from end March 2025.