Key financial data for DFDS

Income statement

DKK mill.	2011	2010	2009	2008	2007
Revenue 1)	11,625	9,867	6,555	8,194	8,310
• Shipping Division	7,798	6,921	4,805	-	-
• Logistics Division	4,330	3,353	1,970	-	-
• Non-allocated items and eliminations	- 503	- 407	- 220	- 668	- 720
• Ro-Ro Shipping	-	-	-	3,799	3,680
• Container Shipping	-	-	-	1,636	1,623
• Passenger Shipping	-	-	-	1,779	1,932
• Terminal Services	-	-	-	647	703
• Trailer Services	-	-	-	963	986
• Tramp	-	-	-	38	106
Operating profit before depreciation (EBITDA) 1)	1,495	1,273	804	1,011	1,311
• Shipping Division	1,416	1,221	822	-	-
• Logistics Division	171	74	42	-	-
• Non-allocated items	-92	-22	-60	-56	-62
• Ro-Ro Shipping	-	-	-	784	914
• Container Shipping	-	-	-	81	133
• Passenger Shipping	-	-	-	194	249
• Terminal Services	-	-	-	-31	12
• Trailer Services	-	-	-	31	56
• Tramp	-	-	-	8	9
	.
Profit on disposal of non-current assets, net	26	5	18	45	37
Operating profit (EBIT) before special items	835	580	245	467	758
Special items	91	102	-71	I/A	I/A
Operating profit (EBIT)	925	682	174	467	758
Financing, net	-183	-135	-154	-246	-232
Profit before tax	742	547	20	221	526
Profit for the year	735	522	89	253	412
Profit for the year after minority interests	731	509	86	247	400
Profit for analytical purposes	716	507	23	227	485

¹During 2010 a new business area structure was introduced and comparative figures per business area are only available from 2009.

Capital

DKK mill.	2011	2010	2009	2008	2007
Total assets	12,795	13,849	9,298	8,610	9,610
DFDS A/S' share of the equity	6,906	6,339	3,641	3,414	3,538
Total equity	6,964	3,396	3,688	3,484	3,653
Net interest bearing debt	2,555	3,887	4,067	3,425	3,828
Invested capital, average	10,042	9,061	7,762	7,663	8,107
Average number of employees	5,096	4,862	3,924	4,301	4,427

Cash flow

DKK mill.	2011	2010	2009	2008	2007
Cash flow from operating activities before finance and after tax	1,419	929	836	983	1,264
Cash flow from investments	219	-1,521	-1,265	-345	-151
• Acquisition of companies, activities and minority interests	-8	-1,417	-39	-40	-35
• Other investments	227	-104	-1,226	-305	-116
Free cash flow	1,638	-592	-429	638	1,113

Operations and return

DKK mill.	2011	2010	2009	2008	2007
Number of operating ships	49	57	51	60	64
Revenue growth, %	17.8	50.5 2)	-20.0	-1.4	10.5
EBITDA-margin, %	12.9	12.9	12.3	12.3	15.8
Operating margin, %	8.0	6.9	2.7	5.7	9.1
Invested capital turnover rate, times	1.16	1.09	0.84	1.07	1.03
Return on invested capital (ROIC) p.a., %	8.6	7.2	2.1	5.8	8.6
Return on equity p.a., %	10.8	10.2	0.7	6.5	14.5

²⁾ 37% relates to the acquistition of the Norfolkline-Group.

Capital and per share

DKK mill.	2011	2010	2009	2008	2007
Equity ratio, %	54.4	46.2	39.7	40.5	38.0
Financial gearing, times	0.37	0.61	1.12	1.00	1.08
Earnings per share (EPS), DKK	50	47	11	32	52
Dividend per share, DKK	14.0	8.0	0.0	0.0	15.0
Number of shares at the end of the period, '000	14,856	14,856	8,000	8,000	8,000
Share price at the end of the period, DKK	355	418	358	399	790
Market value, DKK mill.	5,274	6,210	2,864	3,192	6,320