NAVIERA ARMAS acquired by DFDS

To expand on the Strait of Gibraltar, DFDS acquired Naviera Armas' ferry operations on the Algeciras-Tangier Med route, with the transaction completed on 8 October 2026 after clearance from the Spanish and Moroccan competition authorities. The seller was Naviera Armas, the Spanish shipping group whose Trasmediterránea arm held the route assets. The perimeter comprised the Volcán de Tamasite, a combined freight and passenger ferry built in 2004, the permits tied to route operations and the transfer of around 200 employees. The purchase price for the route assets amounted to an enterprise value of . DFDS withdrew from a parallel agreement covering Naviera Armas' Algeciras-Ceuta operations, which had been conditional on the degree of restrictions imposed by the competition authority. The requirements set by the Spanish authority exceeded the agreed conditions, and the group decided not to proceed on that crossing. On Algeciras-Tangier Med, the acquired ferry was merged with DFDS' existing route between the two ports, adding scale to its operations and broadening its offering to freight customers and passengers. The capacity share on a joint freight ro-ro vessel operated by the incumbent carriers on the crossing rose from 33% to 50%. The group maintained its full-year 2026 capital expenditure outlook at DKK 1.7bn, the added acquisition capex being expected to be offset by lower than anticipated operating capex, while the adjusted free cash flow outlook was left unchanged.

The acquisition of Naviera Armas is part of the growth strategy of Dfds, which already has several external growth operations under its belt, notably Frs Iberia Maroc in 2023.