Key takeaways:
- North Sea volumes were mixed: higher continent–UK traffic was offset by weaker Scandinavian routes.
- The Channel decline tracked a broader contraction in that market; DFDS did not break out route-level figures.
- Rolling 12-month volumes rose 0.3% to 41.78 million lane metres, but were down 0.5% once route-network changes are stripped out.
- The soft July figures came alongside a considerably stronger second quarter, with DFDS raising its full-year guidance.
According to DFDS’s monthly traffic update, its ferries transported 3.451 million lane metres in July, against 3.566 million in the same month last year. A lane metre measures one metre of a vessel’s freight deck and is the standard industry measure of trailer and cargo-unit capacity.
The North Sea picture was mixed. Freight volumes between continental Europe and the UK increased, but this was outweighed by lower traffic on routes serving Scandinavia, leaving total North Sea volumes just below their July 2025 level.
On the Channel, DFDS attributed the decline to a contraction in the overall market, without providing individual volume figures for its Channel routes.
Mediterranean traffic also came in below last year’s level, on weaker demand and reduced capacity on some routes — though DFDS said its service linking Egypt with Europe continued to grow. The Baltic network was broadly level with July 2025, while freight across the Strait of Gibraltar increased.
Passenger numbers softened too, falling 1.6% to 752,000, mainly on lower traffic across the Strait of Gibraltar.
Underlying annual volumes slightly lower
Over the 12 months to the end of July, DFDS transported 41.78 million lane metres, up 0.3% from 41.67 million in the preceding 12-month period. That comparison is flattered by changes to the company’s ferry network, however: stripping those out, rolling annual volumes were 0.5% lower.
Stronger earnings despite uneven freight demand
The traffic figures were published alongside a markedly stronger financial performance. In the second quarter of 2026, DFDS grew group revenue by 10% to DKK 8.6 billion (approximately €1.15 billion), while EBIT rose from DKK 163 million (approximately €22 million) to DKK 454 million (approximately €61 million). Adjusted free cash flow for the quarter reached DKK 728 million (approximately €97 million).
The company subsequently raised its full-year revenue-growth forecast from around zero to 3–5%, and lifted the lower end of its expected EBIT range from DKK 1.0 billion (approximately €134 million) to DKK 1.2 billion (approximately €161 million), taking the full-year EBIT forecast to DKK 1.2–1.4 billion (approximately €161–187 million). It also raised its full-year adjusted free cash flow guidance to around DKK 500 million (approximately €67 million), from a previous “above DKK 250 million” (approximately €33 million).
