ANNOUNCEMENT NO. 33/2025 Q3 2025 Revenue up 4% to DKK 8.3bn. Organic growth was -2%EBIT reduced 32% to DKK 536mCO2 ferry emission intensity from own fleet lowered 2.7% Outlook 2025 EBIT lowered to DKK 0.6-0.75bn from DKK 0.8-1.0bn excluding one-off programme costCost Reduction Programme one-off cost of around DKK 100m in Q4 2025Adjusted free cash flow of around DKK 0.9bn down from DKK 1.0bn “We are launching a Cost Reduction Programme to accelerate our transition to a higher level of financial perform ...