DFDS SEAWAYS PLC

• ◆

  Material uncertainty over going concern

  The directors have performed a going concern assessment to cover from the date of approval of the financial statements through to 30 June 2027. Notwithstanding the net current liabilities of £16,694,801, and net assets of £4,621,024, the directors consider the going concern basis appropriate. With an expected economic recovery beginning mid-2026, DFDS anticipates revenues of £71M for the 12 months leading up to 30 June 2027, resulting in an EBIT profit of £4M. Monthly performance is projected to improve year-on-year as volumes increase. The company's business activities, together with the factors likely to affect its future development and position are closely monitored by the directors, enabling DFDS to react to the microenvironment changes that occur ensuring minimal impacts to results. Furthermore, the parent company has provided the company with an undertaking that, for the period through to 30 June 2027, it will continue to make available such funds as are needed by the company to continue in operational existence. As with any company placing reliance on other group entities for financial support, the directors of the company have made enquires of the directors of DFDS A/S to confirm that DFDS A/S has the ability to provide financial support to the company. The directors acknowledge that there can be no certainty that this support will continue, although at the date of approval of these financial statements, they have no reasons to believe that it will not do so. On the basis of their assessment of the company's financial position the directors have a reasonable expectation that the company will be able to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

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  Going-concern uncertainty disclosed

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

1. DFDS SEAWAYS PLC 2010-08-31 → present
2. DFDS TOR LINE PLC 2003-12-08 → 2010-08-31
3. DFDS PLC 1996-01-02 → 2003-12-08
4. SCANDINAVIAN SEAWAYS LIMITED 1989-11-16 → 1996-01-02
5. SCANDINAVIA SEAWAYS LIMITED 1989-10-26 → 1989-11-16
6. LONGSHIP HOLIDAYS LIMITED 1984-03-09 → 1989-10-26
7. SCANDINAVIAN SEAWAYS LIMITED 1981-04-02 → 1984-03-09

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

Cooper Parry Group Limited

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The directors have performed a going concern assessment to cover from the date of approval of the financial statements through to 30 June 2027. Notwithstanding the net current liabilities of £16,694,801, and net assets of £4,621,024, the directors consider the going concern basis appropriate. With an expected economic recovery beginning mid-2026, DFDS anticipates revenues of £71M for the 12 months leading up to 30 June 2027, resulting in an EBIT profit of £4M. Monthly performance is projected to improve year-on-year as volumes increase. The company's business activities, together with the factors likely to affect its future development and position are closely monitored by the directors, enabling DFDS to react to the microenvironment changes that occur ensuring minimal impacts to results. Furthermore, the parent company has provided the company with an undertaking that, for the period through to 30 June 2027, it will continue to make available such funds as are needed by the company to continue in operational existence. As with any company placing reliance on other group entities for financial support, the directors of the company have made enquires of the directors of DFDS A/S to confirm that DFDS A/S has the ability to provide financial support to the company. The directors acknowledge that there can be no certainty that this support will continue, although at the date of approval of these financial statements, they have no reasons to believe that it will not do so. On the basis of their assessment of the company's financial position the directors have a reasonable expectation that the company will be able to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.”

Group structure

1. DFDS SEAWAYS PLC · parent
   1. DFDS Tor line (Guernsey) Limited 100% · Guernsey · Dormant
   2. Norse Irish Ferries Limited 100% · Isle of Man · Non trading
   3. DFDS Tor Line Limited 100% · England and Wales · Dormant

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

8

last 12 months

Capital events

1

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.