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Type	Time	Amount	Unit
ifrs-full:Assets	2023-12-31	34873000000	dkk
ifrs-full:Assets	2022-12-31	34084000000	dkk

Revenue

Type	Start date	End date	Amount	Unit
ifrs-full:Revenue	2023-01-01	2023-12-31	27304000000	dkk
ifrs-full:Revenue	2022-01-01	2022-12-31	26873000000	dkk

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   <mrv:StatementOfCorporateSocialResponsibility contextRef="ctx-1" id="s8_notesesefdkgaap__8__8-1" xml:lang="en">Driving the ESG transformationSustainable and responsible business conduct is an integral part of DFDS’ overall Moving Together Towards  2030 strategy. It provides the foundation for our sustainability commitments to our people, our customers, society and the planet. We are committed to leading the green transition and driving environmental transfor-mation within shipping and logistics based on ambitious climate targets and investments in innovative services and technologies, green ferries, biofuel and battery driven trucks. We are committed to addressing key environmentalhigh-impact areas and providing zero-emission products and services that will support our cus-tomers in their transition from black to green.We are committed to being a great place to  work and act as a responsible and caring employer by creating a safe and inclusive workplace focused on the well-being of all our employees and by supporting their phys-ical and mental health.We are committed to ensuring responsible business practices and good corporate citi-zenship across our business areas and geo-graphical locations. We support and report in line with recognised ESG disclosure frame-works to be transparent about our impact on society, customers, and the environment.Our climate ambitions have been outlined in a Climate Action Plan and are incorporated in our Moving Together Towards 2030 strategy. DFDS has been a proud signatory of UN Global Compact since 2015. We are especially focu-sed on the Sustainable Development Goals (SDGs) related to Climate Action, Life below Water, Good Health and Wellbeing, Gender Equality, and Partnerships for the Goals.ESG Materiality AssessmentOur strategic ESG priorities are based on a double materiality assessment where we have identified the sustainability matters that are financially material for DFDS as a business, and the sustainability matters that have a material impact on environ-ment, society, and people within DFDS and in our value chain. During 2023, we have performed a prelim-inary double materiality assessment to align our approach with the EU’s Corporate Sustainability Reporting Directive (CSRD) which will be finalised in due course and applied in our 2024 reporting. This updated approach has strengthened our under-standing of our impacts on our surround-ings and has provided a more detailed over-sight across the value chain. Coupled with a financial impact assessment, we have ensured a thorough double view combining an inside-out view with an outside-in view on materiality. The outcome in terms of ma-terial topics has not changed significantly compared to the materiality assessment in the 2022 report, yet it allows us to increase the transparency in our reporting and we look forward to sharing the results in next year’s annual report. For the 2023 report, we have continued the materiality assessment practices from pre-vious years. The assessment is based on a stakeholder analysis including customers, employees, investors, NGOs, ESG ratings, regulators, etc. The assessment has result-ed in a shortlisting of material ESG topics in relation to ESG and each of the elements have been addressed and risk.Environment: Moving to GreenOur Environmental Strategy supports UN Sustainable Development Goals #13 Climate Action and #14 Life below water. Our climate related initiatives are embedded in our  Climate Action Plan and incorporated in  our overall corporate strategy.  Our primary environmental focus is on min-imising the risk and impact of energy con-sumption and greenhouse gas emissions (GHG) and on limiting local air pollution of SO2 and NOx, oil spills, discharges, under-water noise, and vibrations from vessels.We aim to be a responsible neighbour, who reduces pollution, waste, and noise in the communities in which we operate. Our carbon footprintAs a ferry and logistics operator, DFDS is operating within sectors contributing significantly to global CO2 emissions. Both sectors are vital to the global economy but are also among the hardest to decarbonise. Decarbonising the shipping and road freight industries will not only require significant investments from operators in new vessels and vehicles that are powered by zero-emission fuels. It will require even bigger investments from the entire society in infrastructure and production of ze-ro-emission fuels at sufficient scale. DFDS is committed to playing an active role in bringing public authorities, infrastructure companies, utility providers, customers, and suppliers together in order to push for investments in zero-emission electricity and fuels. In general, we prioritise decarbonisa-tion initiatives based on their long-term CO2impact per dollar invested. The major and long-term transition towards zero-emission transport requires our indus-try to replace today’s fossil-fuel dependent fleet with a new generation of vessels and vehicles that run on sustainable fuels creat-ed entirely from renewable energy. By 2050, our target is to replace fossil fuels with zero-emission fuels like green electricity, ammonia, hydrogen, or methanol. Storing, handling, and using these new fuels differs vastly from how fossil fuel works. Numerous complex uncertainties still hold back the commercial viability of renewable fuels. Their demand depends on price dif-ferentials between black and green energy, availability, bunker infrastructure, and public incentives and regulations. Closing the price gap between fossil and renewable fuels will be critical to driving zero-emission vessels’ adoption, construction, and use. To find zero-emission fuel alternatives, we partner with other companies and organ-isations who share our need and desire to transform the transport industry into one that runs on sustainable fuel. We openly share information about which sustainable fuels we are investigating and the volumes we estimate to be required to fuel a busi-ness of our size. We are part of a project to develop a hydrogen factory in Copenhagen, a green ammonia production facility in Esbjerg, and an e-methanol facility in Sweden, to better understand the production of green fuels and contribute to their availability.  With projects such as these, we aim to reduce the price gap between black and green fuels, sustain our commercial competitiveness, and provide customers with zero-emission transport options that reduce their Scope 3 emissions.Our Climate Action PlanWe are targeting a reduction of 45%  GHG emissions from our fleet of ferries by 2030 (compared to our 2008-baseline) and carbon neutrality in 2050. This includes an ambition to have six zero-emission ferries in operation by the end of 2030. In 2026, we expect to initiate a newbuilding program for zero-emission ferries. The pro-gram covers six planned new-buildings which will be fuelled by methanol, ammonia or electricity, and the total green investments are expected to be around DKK 7.3bn (DKK 0.5bn in 2026, DKK 1.5bn each year in 2027 and 2028, DKK 1.7bn in 2029, and DKK 2.1bn in 2030). The investments and the timing is contingent on availability of green fuels.For road transport and warehousing, we are targeting a 75% reduction in CO2e intensity in 2030  (compared to our 2022-baseline) and carbon neutrality in 2050. This will be achieved predominantly through electrifi-cation of trucks, port terminals, and ware-houses, just as green hydrogen will play an important part for decarbonisation of truck transportation in future. Our short-term climate plan is centred around technical upgrades and our ferry route optimisation program Every Minute Counts. They are the drivers of our current and realised CO2 reductions.  Technical upgrades include but are not limited to; optimising the ferries’ hydro-dynamic Every Minute CountsDFDS' schedule optimisation  program enables lower speeds  and reduced fuel consumption: → Reduced turnaround  time in port terminals through  efficiency tracking → Dynamic schedule optimisation via data models → Optimisation models for  tonnage allocation to routesTechnical upgradesDFDS' tonnage plan includes  ferry specific upgrades to  reduce fuel consumption: → Sensor data → Anti fouling → Air lubrication → Excessive energy usage → Hull and propeller projects → Exploration of wind assistanceperformance to reduce friction in the water and improving decision support systems to help crews and shore-side support teams operate in a more fuel-efficient way as well as continuous improvements to energy consumption. We also actively develop and test new means of propulsion and energy generation.A vital part of our Climate Action Plan is to secure financing for the planned and anticipated green capex investments. This includes securing EU and national funding and subsidies for key projects, from sources such as EU Innovation Fund, EU Hydrogen Bank, Innovate UK, and French Fund for Innovation in Development (FID). The green capex level is contingent on availability of green fuels and a vital part of our Climate Action Plan is therefore to con-tinue to develop partnerships to increase the supply of green fuels.From a commercial perspective, we will increasingly offer decarbonised solu-tions to our customers. This includes ‘green corridors’ and transport solutions based on biofueled ships and electrified road transportation. Reductions can be achieved via indirect emission savings or as direct emission savings through specific transport solutions.Indirect emission savings are based on our CO2e reduction bank. Reductions are calculated by comparing the actual fuel used against a traditional fossil fuel, using emissions intensity factors from the GLEC framework, and our independent external auditor is issuing limited assurance on the reporting. The reductions are stored in our CO2e reduction bank and customers can buy certificates to claim reductions in their Scope 3 emissions. Direct emission savings are based on specific zero-emission transport routes and solutions. With our direct solution, the emissions reductions are made directly within the customer’s own transportation flow, through the use of biofuel on ferries and electricity on trucks. As an example, we have teamed up with Arla and Danish Crown in a new green  corridor partnership to develop a climate- neutral transport corridor between Denmark and the UK. The ambition for the partnership is to transport Arla’s and Danish Crown’s products from farms in Denmark to consum-ers in the UK with zero emission impact.To improve industry collaboration and create a more sustainable direction for our industry, we are actively engaged in a range of organisations and frameworks such as European Sustainable Shipping Forum (ESSF), IMO’s Marine Environment Protec-tion Committee (MEPC), as well as relevant national shipowners’ organisations. A DFDS representative is currently chairing ‘Green Ship of the Future’, which is an independent non-profit organisation exploring the path towards emission free maritime transport. Biodiversity  The resilience of ecosystems is key focus areas for DFDS. Conventional fossil fuelled ferries emit noise and vibrations into the water, which has a negative impact on marine life. The transition to new fuel types and new ferry designs are bound to reduce the negative impacts on life below water. The transition to sustainable fuels will also lead to cleaner air which will have an immediate positive impact on all forms of life above water.Biodiversity has been included in our up-dated Code of Conduct and in 2024, we  will develop and adopt a Biodiversity Policy, that will set the direction and outline our commitments with respect to Biodiversity. Next step is to improve our understand-ing of our main impact areas and how our operations intersect with potentially sensitive areas. Our focus is on how data and technology can help to minimize any adverse impact.We will continue our efforts to protect ocean life and biodiversity by supporting research and education that focuses on the marine environment. Our projects include monitoring and pro-tecting whales and dolphins with ORCA, long-term measurement of the ecological health of marine plankton with the Con-tinuous Plankton Recorder Survey, and monitoring and researching cetacean and seabirds with MARINElife.Responsible ship recycling An inherent part of our business model is to ensure that our vessels are properly maintained and renewed in due time before they become inefficient and worn out. Consequently, we aim to resell for longer time use, and hardly ever recycle ships. In the rare case that a ship must be recycled in the future, we will use an approved yard and carry out the work in line with EU ship recycling regulations and the principles of the International Maritime Organisation's (IMO) Hong Kong International Convention.Adaptation to new regulatory requirementsWe continue to adapt to and comply with new IMO, EU and other relevant regulation. Our fleet is compliant with IMO’s current CII, EEXI and EEDI current certification requirements. In 2023, IMO has adopted new, more ambitious long term environmen-tal targets for the maritime industry. The 2023 IMO GHG Strategy provides a more ambitious reduction pathway towards net zero in 2050, by reducing emissions by at least 20%, striving for 30%, by 2030, and by at least 70%, striving for 80% by 2040 compared to a 2008-baseline.  The  Science-Based Targets initiative (SBTi) is another target setting standard for carbon reductions that we follow closely. At this point in time, we have not committed to the SBTi. With the current landscape of technologies, regulation, and fuel availability, the carbon reductions required already by 2040 can only be achieved by replacing or retrofitting a fully functioning fleet ahead of time. This will be challenging seen from both a life-cy-cle-analysis perspective and a capital investment perspective.We are in the process of analysing the path forward and the pertinence of the SBTi or potential other science-based options. At the same time, we are investigating how to incor-porate IMOs new ambitions into our Climate Action Plan. We are actively targeting GHG intensity reduc-tion in line with the FuelEU maritime regulation just as we embrace EU’s Emissions Trading System (ETS) which has been extended to Mar-itime from 1 January 2024 (ETS I). Under this extension, shipping companies are required to monitor and report their emissions and to pur-chase and surrender ETS emission allowances for each tonne of reported CO2 emissions in scope. In 2027, road transport will be includ-ed as well as part of the launch of ETS II. We expect to pass ETS charges on to our customers, and we expect that the implemen-tation of ETS will increase our customers’ incentive and interest in buying decarbonised products and services as an alternative to their traditional transport product.We measure our environmental performance using widely recognised metrics related to energy consumption, GHG emissions, waste, water, and oil spills. These metrics enable us to track our progress and respond to risks and opportunities related to climate risks, environment, and biodiversity.Please see page 67 for more information about financial impact of climate risks related to both transition and physical risk. Social: Great Place to WorkOur people approach supports UN Sustain-able Development Goals #3 Good Health and Wellbeing, and #5 Gender equality. We measure our social performance using metrics related to labour practices &amp; human rights, diversity &amp; inclusion, occupational health &amp; safety, and employee engage-ment. These metrics enable us to track our progress and respond to risks and opportu-nities related to talent attraction, employee retention, and business development. Sustainable business is about people. We want to ensure the well-being of all our employees and support their physical and mental health. All employees should be seen and recognised for who they are and we want them to have a strong sense of belonging - both when they go to work and when they go home again. We strive to be an inclusive and diverse workplace and believe that diverse groups and teams make better decisions.We believe that putting people first is a way to attract and retain the diverse workforce. We need to successfully perform and transform our company and industry. We need people with different perspectives andexperiences for the company to develop sustainably. The diversity perspective is included in recruitment, promotion, and talent processes. We prioritise building an inclusive culture, where people know that they are valued for who they are and the competencies and experiences they bring with them.We want DFDS to be a company where all employees subscribe to our values and wherewe can rely on our colleagues’ knowledge and expertise as well as their ability to act with agility and solve problems as they arise.As our business and organisation grow, we need to secure a pipeline of talented peo-ple to step up and fill positions - realising the opportunities. We do this by offering formal and informal training programmes for leaders and employees, as well as group-wide mentoring initiatives. We also want to help our employees grow personal-ly. Performance management is structured by a recurrent annual appraisal process for all employees. The process supports the engagement, performance and develop-ment of the employee and is in line with DFDS' overall strategy and business goals.Employee wellbeing and motivation is an important factor in DFDS and we monitor sickness absence and other indicators in concern of mental wellbeing. To measure engagement, diversity and inclusion, and employee satisfaction, we conduct annual employee engagement surveys. By tailoring them to specific issues, we measure what employees deem import-ant and where to focus.We also support individual employees and groups of colleagues at DFDS in taking ini-tiatives to do good in the local communities where we operateWe respect Human RightsAs a responsible employer, we are fully committed to respecting human rights as defined by the UN Guiding Principles on Business and Human Rights and OECD guidelines for Multinational Enterprises.  We have recently formalised our commit-ment and processes in a Human Rights Policy which was adopted by the Board of Directors in February 2024. During 2023, we performed a human rights impact assess-ment which serves as the foundation for our continued work with human rights and our efforts to create transparency.  We have articulated responsible employer stan-dards for topics like wages, working hours, discrimination, and child labour in our Labour Code of Conduct (LCOC). We have included Human Rights in our internal code of conduct as well as in our supplier code of conduct. We use the supplier assessment tool EcoVadis to perform level screening of suppliers from a human rights risk/perfor-mance perspective.In our updated Human Rights Policy we have become more explicit about our com-mitments in relation to Human Rights with respect to our own employees and employ-ees in our value chain.We believe in the importance of equal treatment of all employees regardless of their background. All employees should feel respected and be treated with dignity. We show zero tolerance towards any harass-ment or bullying. No employee should ever face humiliation, physical or mental abuse, sexual harassment, or any other form  of mistreatment.Since 2015, DFDS has also provided the possibility of anonymously reporting any concerns over breaches of acceptable behaviour by or within the company through a whistleblower hotline hosted by a third party. It is open for reporting by employees as well as third parties and can be easily ac-cessed through our website www.dfds.com. Alongside the whistleblower hotline, we encourage employees to report incidents or unacceptable behaviour to their local man-ager, HR or to a member of the Executive Management Team. Within the whistleblower system reports can be raised anonymously, and whis-tleblowers are safeguarded against potential retaliation. All cases are handled and treated confidentially and appropri-ate consequences are applied case by case, reflecting the severity of the issue. The Board of Directors receives regular updates on reports and findings from the whistleblower hotline.We promote Diversity &amp; InclusionDFDS works to promote and change the gender distribution in the industry, which has historically been dominated by men, through a dedicated and structured ap-proach to diversity and inclusion. We are committed to ensuring equal opportunities and avoiding discrimination based on e.g. ethnicity, religion, gender, disabilities, or age. We believe that greater diversity leads to a stronger company. Our Diversity, Equity &amp; Inclusion policy details how we work to secure equal opportunities at DFDS. We apply a dedicated and structured approach to diversity and inclusion. This includes target setting, financial incentives via bonus schemes, engage-ment surveys, management confer-ences, training sessions, toolboxes, and efforts to raise awareness and to make more bias neutral decisions. As a result of our work with diversity and inclusion we have intensified the focus on manager accountability and inclusive leadership by engaging managers and by being explicit about requirements and expectations to the individual manager, and how to drive a cultural change. This applies to all managerial levels, including executive management and the Board of Directors, as stated in the Corporate Gov-ernance section.The monitoring and measures implement-ed to improve diversity in DFDS cover all layers of the organisation including Board of Directors and the Executive Management Team. Both being diverse in terms of gen-der, nationality, age and seniority. One of our primary priorities on the diversity agenda has been to increase the number of women in the entire business and across all organisational layers. Except for in the Peopleand Finance divisions, women leaders are still a minority in DFDS.  We are focused on increasing the number of women non-office workers on both land and sea and have signed Danish Shipping's Charter for more women at sea. During last year women in management positions onboard the vessels has increased from 7% in 2022 to 9% in 2023. The non-office work-force has a female ratio of 11% whereas the office-based workforce is more diverse with a female ratio of 44%. Our ambition is to have at least 30% women at all organisa-tional levels by 2028.We want to ensure equal pay for equal work and are monitoring any unintended pay gaps across the business. In 2024, we will implement a new group wide HR system which will enable us to increase transparency on HR matters.We emphasize the importance  of Health &amp; SafetyDFDS is responsible for many people and their working conditions. Operating a business where more than 65% of employ-ees work in high-risk environments means that health &amp; safety has very high priority. Establishing a strong safety culture across the entire business and all organisational layers is therefore of utmost importance. The safety and wellbeing of our employees always come first. We aim to ensure that robust safety processes, equipment, tools, and training are fully integrated into the way we work. At sea, we use SERTICA on all DFDS vessels to manage and measure our H&amp;S performance. It is a system widely used by companies worldwide to optimise internal processes concerning mainte-nance, procurement, HSQE, performance and to make decisions based on data. On land, we operate within our Safety First programme, which is a group-wide initiative to improve the knowledge of procedures regarding safety. A group wide H&amp;S perfor-mance system EcoOnline is being imple-mented across all land-based location to ensure standardised reporting and data.The local H&amp;S organisations and Marine Standards are responsible for implementing and integrating Safety-First into existing pro-cedures and processes on both land and sea.Governance: Responsible  business practices DFDS is committed to conducting business in a responsible, ethical, and transparent manner to meet stakeholders’ expecta-tions of high business integrity standards. Our approach to business integrity is em-bedded in our corporate values, policies, and procedures.Our Governance setup supports UN Sustain-able Development Goals #17 Partnership for the Goals. Please see page 26 for more information about partnerships.Transparency and incentives  to managementWe believe in transparency, and we vol-untarily verify and disclose ESG data to customers and stakeholders. We have thor-ough processes in place to help reduce our environmental footprint and continuously strengthen our position as a responsible employer. We assess risks, analyse, and in-vestigate relevant initiatives and adjust our actions as needed to stay on track with our commitments. DFDS’ short term incentive programme includes minimum 20% ESG related metrics for all managers, and in some cases even higher. Thus, ESG related metrics account for 30% of the CEO’s short term incentive programme.For more information, please refer to Remu-neration Report 2023.Business Ethics Providing maritime transport and logistics services mean we are in close contact with many people throughout our value chain. It is a priority for us to respecting human rights, and we have clear policies designed to influence and determine all major decisions, actions, and activities, as we do not tolerate any form of discrimination or harassment. Corruption is an inherent risk to our busi-ness, but we consider it as unacceptable. We mitigate this by having clear policies for employees and suppliers on how to act. While we actively engage in dialogues with governments and authorities with respect to infrastructure issues of common interest, we do not support or provide donations to individual political parties or politicians. We believe that engaging in partnerships and industry organisations, and taking an industry perspective serves the company and our stakeholders best, just as we ac-tively share knowledge and data to move the industry forward.DFDS has policies and processes in place to ensure that human rights are respected with-in our own operations and throughout the value chain, including third-party workers, hauliers, and seafarers. The policies include  topics like health, safety, accommodation, labour, and human rights. Please see page 27 for more information on Human rights.Our Code of Conduct is our internal guide-line for how employees act responsibly, treat each other with respect, and respond to ethical issues. It is directly linked to the UN Global Compact’s ten guiding princi-ples and covers topics like human rights, diversity &amp; inclusion, anti-harassment and discrimination, environmental protection, anti-corruption, and bribery. During 2023 the Code of Conduct has been reviewed and updated. Existing topics have been strengthened and Well-being, Anti-money laundering and Cyber secu-rity have been added. In 2024 a global campaign focussing on awareness and reporting will be rolled out.All employees can report breaches to the Code of Conduct through our anonymous whistleblower line. Responsible supply chainSupply chain sustainability is an integral part of DFDS’ Responsible Procurement Program. We impact our supply chain through promoting human rights, environ-mental care, good labour practices, and high ethical standards.  Our Supplier Code of Conduct incorporates the IMPA ACT fundamentals and is based on the UN Global Compact and Guiding Principles on Environment, labour Prac-tices, Business Ethic and Human Rights. DFDS’ Supplier Code of Conduct sets the standard for our supply chain to operate in accordance with ethical business principles and conform to all applicable international laws, rules, and local regulation. We expect our suppliers to adhere to our principles and standards and to develop and im-plement relevant management systems appropriate for a company of their size in line with our Supplier Code of Conduct.We use a dedicated management system, EcoVadis to assess and identify sustainabil-ity risks within the supply chain based on the suppliers’ country and industry risk profile. Suppliers are scored according to our en-gagement and post-assessment policy, and plans for corrective actions are requested from suppliers with a low EcoVadis score. Suppliers with a high-risk profile are targets for further evaluation. This is conducted in synergy with our ESG supplier evaluation program, which enables us to better ad-dress weak areas in our supply chain and engage in a constructive dialogue with our suppliers to develop more innovative and sustainable products and services.In parallel, we perform audits of third-party transport suppliers to ensure they live up to our Supplier Code of Conduct. Responsible taxDFDS is committed to responsible tax practices as outlined in our Group Tax Policy, approved by the Board of Directors. We aim to comply with tax legislation of the countries in which we operate and pay the correct amount of tax when due. We structure the DFDS Group based on business rational and substance, and any tax planning is based on reasonable inter-pretation of applicable law and is aligned with the substance of the economic and commercial activity of our business. The DFDS Group will not engage in aggressive tax planning, and we will not undertake transactions whose sole purpose is to create a tax benefit which is in excess of a reasonable interpretation of relevant tax rules. The DFDS Group participates in tax incentive schemes designed to advance shipping activities where appropriate and in line with our Code of Conduct as well as our business and operational objectives.Data Ethics As a transport and logistics provider, we use data to maintain and improve customer experience and operational efficiency. We are committed to ensuring that employees, customers, and business partners can en-trust us with their data. We are determined to handle data sustainably and with great care. We recognise that digital developmententails responsibility and transparency. Our Data Ethics policy sets out the overall guidelines and principles for how data eth-ics are considered and included in the use of data, including personally identifiable data, and the design and implementation of technologies. The Data Ethics policy supplements our Privacy Policy, which sets out the overall requirements for our handling of personal data, and our Information Security Policy, which describes how we look after DFDS’ data, including relevant security standards for data storage, access management and data transport.We adhere to three principles of data ethics: Security, Confidentiality, and Integ-rity. Our data ethics principles are further elaborated in the DFDS's Data Ethics Policy. The purpose of our data ethics policy is to ensure a fair balance between, on the one hand the many benefits that the use of data and new technology offers, and on the other hand, the consequences that the use of data can have for the individual and for society in both the short and long term.Our Code of Conduct has been updated to include a section on cybersecurity to elevate awareness and preparedness at all levels of the organisation, and in general, a lot of measures have been taken to secure a safe IT environment. ESGreview → 5% reduction in absolute direct emissions (scope 1 + 2) → 5% reduction in CO2fficiency  on route network → Ratio of female managers  increased from 16% to 18%  → 99% of all DFDS Groups  suppliers &gt; DKK 10m have been assessed on ESG risksEnvironmental performanceOur total CO2e emissions amounted to 3,633,000 tonnes in 2023 (2022: 3,908,000 tonnes). This is a decrease of 5% compared to 2022. The decrease can primarily be attributed to improved fuel efficiency of our ferries and land-based operations not-withstanding the acquisition of additional locations, and a 3.0 % decrease in Total Distance Sailed (NM) in 2023. In 2023, our CO2 intensity measured as the ratio be-tween emitted CO2e and revenue continues to decline with 8% compared to 2022. The significant drop in 2022 is the result of BAF impact on revenue.CO2e emissions (Scope 1) amounted to 2,566,000 tonnes in 2023 which is a de-crease of 5% from last year. With the actions taken as part of our Climate Action Plan, see page 29, the CO2 efficiency of our ferry routes has improved 5% compared to 2022. The big-gest contribution comes from improved fuel efficiency of our vessels. While the distance sailed decreased 3.0%, fuel consumption decreased even more by 8.3%. This is due to technical fleet upgrades, improved decision support system, anti-fouling full coatings, and especially our Every Minute Counts pro-gramme aimed at lowering speed at sea and reduced fuel consumption.The achieved and targeted emission reduc-tions are aligned with the Climate Action Plan’s target of a 45% reduction in CO2 per GT mile in 2030 from a 2008-baseline. Indirect CO2e missions (Scope 2 – location based) amounted to 11.8 tonnes in 2023. This is an increase of 49% compared to 2022 driven by electrification of our truck fleet, meaning that we are using less diesel (scope 1) and more electricity (scope 2), but also by the addition of acquired logistics locations. We have increased the focus on the genera-tion of renewable energy by installing solar panels on warehouses and terminals. In 2023,we produced 1.2m kWh across seven different locations, and the target is to produce 10m kWh by 2030. We are currently on track to reach 6m kWh per year by 2025, with 14 ongoing or planned installations.We focus on optimising general energy con-sumption across our operations and the share of zero-emission electricity is also an area with increasing importance. This is addressed on two dimensions: own production of renewable energy and purchasing of certificates for zero-emission electricity. In 2023, 56% of the total electricity consumption was either pro-duced at own solar panel facilities (2.2%) or backed by zero-emission certificates (53.5%). This is expected to increase in 2024 as our efforts towards zero-emission energy pro-duction and our green electricity strategy will continue to be implemented across the group.Value chain CO2 emissions (Scope 3) amount-ed to 1,055,000 tonnes CO2e (2022: 1,203,000 tonnes CO2e). The lower Scope 3 emissions were primarily related to a decrease in emis-sions related to upstream production of fuel used in our operations as well as to decreased emissions from third-party hauliers. Energy transition on land-based operationsWe continue to increase the ratio of renew-ables by moving towards electrification across our land-based operations including e-trucks, reach stackers, cranes, and cars. Electrification and focus on energy efficiency and reduction in our land-based operation has resulted in a reduction of 5.3% in the energy consumption per land-based FTE compared to 2022. The focus on energy consumption will continue. An example is the decision that from 2026, all newly acquired company cars will be EV or hybrid. Petrol and diesel cars will be phased out by the end of 2029.Waste &amp; waterWe continuously assess our general resource consumption – and water consumption and waste generation are becoming more material to the business as we continue to grow our logistics business. Our employees can help make a difference, and we nudge them to make informed decisions on water use and waste disposal through clear local guidelines. An analysis indicates that 74% of all waste is being recycled. The recycling ratio for water is significantly lower at 11% and indicates that water is not a scarce resource at the locations where we are operating. We will continue to increase the data coverage related to both wa-ter and waste and plan to establish targets for water use and waste disposal for all locations.BiodiversityDFDS are in the process of developing a Group Biodiversity Strategy encompassing the topics that are potentially material for DFDS. We are assessing different elements of our value chain to getter a better under-staning of our impact.We support research projects where our assets and knowledge can make a differ-ence such as marine scientists collecting data on marine life and animal observation. We also focus on noise reduction from our vessels by reducing speed. We are commit-ted to only source second generation biofuel to ensure that the feed stock is certified and causes no damage to biodiversity or compete with food for animals and people. Lastly, we drive awareness and encourage all locations to focus on biodiversity in their local surroundings. Social performanceA caring employer supports growth and wellbeing. We believe that putting people first is a way to attract and retain the diverse workforce we need to successfully transform our company and industry. We need people with different perspectives and experiences for the company to develop sustainably. We prioritise building a strong internal culture where people know that they are valued for who they are and the competencies and experiences they bring with them. Diversity, Equity &amp; Inclusion The women ratio for all employees declined to 23% at the end of 2023 (2022: 24%), while the women representation of managers increased to 18% (2022: 16%) as did the share of women senior manages (2022: 16%). In the Board of Directors, the share of women is 33% (2022: 33%) and within the Executive Management Team the women ratio is 29% (2022: 29%).Our target is to have 30% minority representa-tion amongst all staff and across all teams anddivisions in 2028, as studies show that this is thelevel where you no longer feel like a minority. Weacknowledge that this will be difficult to achievein all teams considering the norm in our industryand the impact of acquired companies.With respect to gender representation, our main focus is to increase the ratio of women in management – both in office and non-of-fice-based positions.  In 2023, we set specific targets for representation of women in select areas of the business and management teams and included the share of women as a KPI in the short-term incentive programme. In 2023, we continued communication and reporting on gender diversity, and we have updated our DE&amp;I toolbox to ease the access. We have put particular emphasis on harassment and bullying through training of both staff and managers across land and sea with the purpose to improve their ability and confidence in handling difficult situa-tions. In 2023, we also conducted mandatory unconscious bias training for all managers. In 2024, we will remain focused on gender representation and follow-up on agreed goals with responsible managers. We will focus on enabling our managers to support an inclu-sive culture and a harassment free workplace. The annual engagement survey was sent out to all employees in November 2023. The response rate decreased to 67% (2022: 69%), despite improved communication and increased manager focus. The aggregated engagement score was 7.7 (on a scale from 1-10) which is un-changed compared to last year and  0.2 above true benchmark. The highest scores were achieved in the areas: Autonomy, Goal setting, and Peer relationships. The lowest scores were related to: Reward, Recognition, and Growth.In 2024, engagement scores will be part of performance evaluation and target setting for management teams, with the ambition to cascade targets to all managers. We use differentiated questionnaires to office and non-office personnel, respectively to match the needs and circumstances of the two different groups of employees.Total target remuneration is based on the role, individual experience, skills, and sus-tained performance level. The remuneration level and relative weight of the remuneration components reflect market practice for the roles and the fit to business needs and priorities. Remuneration is reviewed annually, respecting local agreements and legislation.The Executive Management Team (EMT) is continuously following general employment conditions, including base salaries, with a view to taking appropriate actions.In 2023, specific areas of focus have been supporting employees in regions with con-sistently high inflation levels, reviewing and improving pension agreements in bespoke countries, and introducing health and emplo-yee wellbeing initiatives in multiple locations. In December 2023, the 2020 Special Rewards programme introduced during Covid-19 was settled. The programme awarded 50 DFDS shares or the equivalent amount in cash to 5,300 employees, who were employed in DFDS by December 1, 2020 and who were still with the company three years later.Health &amp; Safety performanceOperating a business where more than 65% of our employees work in high-risk environments requires us to continuously assess and im-prove our overall health &amp; safety performance. The number of lost time incidents (LTIF) on land increased slightly to 8.1 in 2023 (2022: 7.9) primarily due to more incidents in our Logistics business, which has been expanded through multiple acquisitions. Although LTIF increased, the total number of lost days (sick days) decreased 21% in 2023, which indicates less severe accidents in 2023 compared to 2022.To further strengthen our safety culture, we are in the process of rolling out a dedicated Health &amp; Safety system, EcoOnline, for all land-based employees. This enables easy reporting of near-misses and safety breach-es to improve prevention activities through learning and knowledge sharing from these near-miss and safety breaches. We are also in the process of rolling out DFDS’ Safety-First culture in acquired enti-ties. A safe operation of our trucking opera-tions is a particular focus area in 2024.The LTIF for our sea-based staff was 3.8 in 2023 (2022: 4.5). In 2023, an e-learning awareness module for safety on Ro/Ro cargo decks was rolled-out and we implemented additional fire-fighting measures on the DFDS fleet as well as camera-based pedestrian detection equipment for heavy machinery in own terminals. In 2024, we will rollout a Safe-ty First e-learning training across the fleet. Governance performanceGovernance performance primarily relates to progress and actions with respect to Re-sponsible Procurement, Data and Business ethics, and Board diversity.Responsible procurement We have used the Ecovadis framework to select KPIs and set preliminary targets for our respon-sible procurement program – covering contracts (&gt;50,000 DKK) handled by Group Procurement.In 2023, we have also started to collect primary Scope 3 data from suppliers, and we have introduced a comprehensive set of ESG criteria in connection with tender evaluations. Data EthicsWe adhere to three principles of data ethics: Security, Confidentiality and Integrity. For more information on our detailed approach  to data ethics and our focus in 2023 please refer to our Data Ethics Statement: https:// assets.ctfassets.net/mivicpf5zews/b2RW 2Zkhb8g0SUTzoGgrE/3ed236e985bfc283 e3457f025c74d5a6/DFDS_Data_Ethics_ Review_2023.pdfWhistleblower reportsSince initiation of tracking, the number of whistleblower cases has increased each year. This is a natural development as the number of employees and the awareness is growing. We continue to communicate and empha-sise the importance of our different reporting channels for identified breaches to our Code of Conduct and unwanted harassment and behaviour. We ensure that information on how to report breaches are available on in relevant policies and on DFDS.com.Responsible procurement results 2023: → We have risk assessed &gt;99% of all DFDS group suppliers with 2022-spend &gt; DKK 10m from an ESG perspective → We have assessed 734 suppliers and 42% of Group spend from an ESG perspective → We have assessed 57% of spend from an ESG perspective on all DFDS suppliers with 2022- spend &gt; DKK 10m → 66% of contracts managed the Group Procurement team are covered by DFDS Supplier Code of Conduct. → We have conducted onsite audits (mainly hauliers) of 15% of targeted suppliers. → DFDS EcoVadis Sustainable Procurement score increa sed 10 points compared to last year.More than 50 cases were reported under the whistleblower scheme in 2023, which is about twice the historic level in terms of number of cases.  Relevant cases have been passed on to local management for follow- up. In general, we regard the increased number of reported cases as positive, and as a sign that employees dare to speak up and question demonstrated behaviours. All cases are taken seriously and wishes to remain anonymous are respected. Most cases and concerns were related  to  Discrimination-   /Harassment  (33%), which was hardly on the list last year, as well as Violation of company policy (21%). All cases are investigated by local HR and/or local man-agement teams to ensure detailed follow-up.Board performanceThe strategic focus areas on diversity is mirrored in the Board of Directors. Diversity in the board is measured in terms of gender and nationality and on both parameters the target of equality is met.At the end of 2023, the  women represen-tation was maintained at 33% as did the share of non-Danish directors.Five out of six AGM elected directors (83%) are independent which is unchanged from last year.</mrv:StatementOfCorporateSocialResponsibility>
   <mrv:StatementOfTheDiversityPolicies contextRef="ctx-1" id="s8_notesesefdkgaap__8__12" xml:lang="en">We promote Diversity &amp; InclusionDFDS works to promote and change the gender distribution in the industry, which has historically been dominated by men, through a dedicated and structured ap-proach to diversity and inclusion. We are committed to ensuring equal opportunities and avoiding discrimination based on e.g. ethnicity, religion, gender, disabilities, or age. We believe that greater diversity leads to a stronger company. Our Diversity, Equity &amp; Inclusion policy details how we work to secure equal opportunities at DFDS. We apply a dedicated and structured approach to diversity and inclusion. This includes target setting, financial incentives via bonus schemes, engage-ment surveys, management confer-ences, training sessions, toolboxes, and efforts to raise awareness and to make more bias neutral decisions. As a result of our work with diversity and inclusion we have intensified the focus on manager accountability and inclusive leadership by engaging managers and by being explicit about requirements and expectations to the individual manager, and how to drive a cultural change. This applies to all managerial levels, including executive management and the Board of Directors, as stated in the Corporate Gov-ernance section.The monitoring and measures implement-ed to improve diversity in DFDS cover all layers of the organisation including Board of Directors and the Executive Management Team. Both being diverse in terms of gen-der, nationality, age and seniority. One of our primary priorities on the diversity agenda has been to increase the number of women in the entire business and across all organisational layers. Except for in the Peopleand Finance divisions, women leaders are still a minority in DFDS.  We are focused on increasing the number of women non-office workers on both land and sea and have signed Danish Shipping's Charter for more women at sea. During last year women in management positions onboard the vessels has increased from 7% in 2022 to 9% in 2023. The non-office work-force has a female ratio of 11% whereas the office-based workforce is more diverse with a female ratio of 44%. Our ambition is to have at least 30% women at all organisa-tional levels by 2028.We want to ensure equal pay for equal work and are monitoring any unintended pay gaps across the business. In 2024, we will implement a new group wide HR system which will enable us to increase transparency on HR matters.We emphasize the importance  of Health &amp; SafetyDFDS is responsible for many people and their working conditions. Operating a business where more than 65% of employ-ees work in high-risk environments means that health &amp; safety has very high priority. Establishing a strong safety culture across the entire business and all organisational layers is therefore of utmost importance. The safety and wellbeing of our employees always come first. We aim to ensure that robust safety processes, equipment, tools, and training are fully integrated into the way we work. At sea, we use SERTICA on all DFDS vessels to manage and measure our H&amp;S performance. It is a system widely used by companies worldwide to optimise internal processes concerning mainte-nance, procurement, HSQE, performance and to make decisions based on data. On land, we operate within our Safety First programme, which is a group-wide initiative to improve the knowledge of procedures regarding safety. A group wide H&amp;S perfor-mance system EcoOnline is being imple-mented across all land-based location to ensure standardised reporting and data.The local H&amp;S organisations and Marine Standards are responsible for implementing and integrating Safety-First into existing pro-cedures and processes on both land and sea.</mrv:StatementOfTheDiversityPolicies>
   <mrv:ReasonForNotFulfillingTheTargetFigureOtherManagementLevels contextRef="ctx-2" id="s8_notesesefdkgaap__10__11" xml:lang="en">Weacknowledge that this will be difficult to achievein all teams considering the norm in our industryand the impact of acquired companies.</mrv:ReasonForNotFulfillingTheTargetFigureOtherManagementLevels>
   <mrv:StatementOfTargetFiguresAndPoliciesForTheUnderrepresentedGender contextRef="ctx-2" id="s8_notesesefdkgaap__10__13" xml:lang="en">Targets for the under- represented genderWe acknowledge that a diverse and inclusive workplace is imperative for DFDS. Thus, we have adopted and implemented D&amp;I policies and processes across the entire Group to help us advance and reach our targets, just as we use data to track progress of D&amp;I initiatives and to create transparency and accountability for our managers and employees. Already today, we live up to gender diversity targets at the highest management body (BoD), while we are committed to reaching our 2028-target for the under-represented gender across other management levels.</mrv:StatementOfTargetFiguresAndPoliciesForTheUnderrepresentedGender>
   <mrv:StatementOfThePolicyToIncreaseThePercentageOfUnderrepresentedGenderOtherManagementLevels contextRef="ctx-2" id="s8_notesesefdkgaap__10__14" xml:lang="en">implemented D&amp;I policies</mrv:StatementOfThePolicyToIncreaseThePercentageOfUnderrepresentedGenderOtherManagementLevels>
   <mrv:PrimaryActionsForFulfillmentOfTargetFigureOtherManagementLevels contextRef="ctx-2" id="s8_notesesefdkgaap__10__15" xml:lang="en">processes across the entire Group to help us advance and reach our targets, just as we use data to track progress of D&amp;I initiatives and to create transparency and accountability for our managers and employees.</mrv:PrimaryActionsForFulfillmentOfTargetFigureOtherManagementLevels>
   <mrv:StatusOfAchievementOfTargetFigureOtherManagementLevels contextRef="ctx-2" id="s8_notesesefdkgaap__10__17" xml:lang="en">while we are committed to reaching our 2028-target for the under-represented gender across other management levels.</mrv:StatusOfAchievementOfTargetFigureOtherManagementLevels>
   <mrv:InformationOnEqualDistributionOfWomenAndMenOtherManagementLevels contextRef="ctx-2" id="s8_notesesefdkgaap__10__16" xml:lang="en">while we are committed to reaching our 2028-target for the under-represented gender across other management levels.</mrv:InformationOnEqualDistributionOfWomenAndMenOtherManagementLevels>
   <mrv:TotalNumberOfMembersOfBoardOfDirectorsExcludingEmployeeelectedMembers contextRef="ctx-4"
                                                                              decimals="0"
                                                                              id="s8_notesesefdkgaap__10__18"
                                                                              unitRef="pure">6</mrv:TotalNumberOfMembersOfBoardOfDirectorsExcludingEmployeeelectedMembers>
   <mrv:PercentageOfUnderrepresentedGenderBoardOfDirectors contextRef="ctx-4"
                                                           decimals="2"
                                                           id="s8_notesesefdkgaap__10__19"
                                                           unitRef="pure">0.33</mrv:PercentageOfUnderrepresentedGenderBoardOfDirectors>
   <mrv:TotalNumberOfOtherManagementLevels contextRef="ctx-4"
                                           decimals="0"
                                           id="s8_notesesefdkgaap__10__22"
                                           unitRef="pure">18</mrv:TotalNumberOfOtherManagementLevels>
   <mrv:PercentageOfUnderrepresentedGenderOtherManagementLevels contextRef="ctx-4"
                                                                decimals="2"
                                                                id="s8_notesesefdkgaap__10__23"
                                                                unitRef="pure">0.22</mrv:PercentageOfUnderrepresentedGenderOtherManagementLevels>
   <mrv:TargetFigureInPercentageOfUnderrepresentedGenderOtherManagementLevels contextRef="ctx-4"
                                                                              decimals="2"
                                                                              id="s8_notesesefdkgaap__10__24"
                                                                              unitRef="pure">0.25</mrv:TargetFigureInPercentageOfUnderrepresentedGenderOtherManagementLevels>
   <mrv:YearOfFulfillmentOfTargetFigureOfUnderrepresentedGenderOtherManagementLevels contextRef="ctx-4" id="s8_notesesefdkgaap__10__25" xml:lang="en">2028</mrv:YearOfFulfillmentOfTargetFigureOfUnderrepresentedGenderOtherManagementLevels>
   <mrv:InformationOnEqualDistributionOfWomenAndMenBoardOfDirectors contextRef="ctx-2" id="s8_notesesefdkgaap__10__20-1" xml:lang="en">N/A - Genderequality achieved</mrv:InformationOnEqualDistributionOfWomenAndMenBoardOfDirectors>
   <mrv:LinkToStatementOfPolicyForDataEthics contextRef="ctx-42" id="s8_notesesefdkgaap__8__10" xml:lang="en">https:// assets.ctfassets.net/mivicpf5zews/b2RW 2Zkhb8g0SUTzoGgrE/3ed236e985bfc283 e3457f025c74d5a6/DFDS_Data_Ethics_ Review_2023.pdf</mrv:LinkToStatementOfPolicyForDataEthics>
   <mrv:LinkToCorporateGovernanceReport contextRef="ctx-1" id="s8_notesesefdkgaap__8__26" xml:lang="en">https://www.dfds.com/en/about/governance-and-policies</mrv:LinkToCorporateGovernanceReport>
   <gsd:NameOfSubmittingEnterprise contextRef="ctx-1" id="s8_notesesefdkgaap__8__32" xml:lang="en">DFDS A/S</gsd:NameOfSubmittingEnterprise>
   <gsd:NameOfReportingEntity contextRef="ctx-1" id="s8_notesesefdkgaap__8__31" xml:lang="en">DFDS A/S</gsd:NameOfReportingEntity>
   <sob:StatementByExecutiveAndSupervisoryBoards contextRef="ctx-1" id="s8_notesesefdkgaap__8__154" xml:lang="en">Statement by the Executive Board and the Board of Directors The Board of Directors and the Executive Board have today considered and approved the Annual report of DFDS A/S for the financial year 1 January - 31 December 2023.The Annual report has been prepared in accordance with IFRS Accounting Standards as adopted by the EU and additional requirements in the Danish Financial Statements Act.In our opinion the consolidated financial statements and the Parent company financial statements give a true and fair view of the Group’s and the Parent company’s assets, liabilities and financial position at 31 December 2023 and of the results of the Group’s and the Parent company’s operations and cash flows for the financial year 1 January – 31 December 2023.Further, in our opinion, the Management’s review includes a true and fair account of the development in the Group’sand the Parent company’s operations and financial matters, of the result for the year and of the Group’s and the Parent company’s financial position as well as a description of the most significant risks and elements of uncertainty facing the Group and the Parent company. In our opinion, the annual report with the file name DFDS-2023-12-31-en.zip is prepared in accordance with the ESEF Regulation.We recommend that the Annual report be adopted at the Annual General Meeting.</sob:StatementByExecutiveAndSupervisoryBoards>
   <sob:PlaceOfSignatureOfStatement contextRef="ctx-1" id="s8_notesesefdkgaap__8__155" xml:lang="en">Copenhagen</sob:PlaceOfSignatureOfStatement>
   <cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-43" id="s8_notesesefdkgaap__8__157" xml:lang="en">Torben Carlsen</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
   <cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-44" id="s8_notesesefdkgaap__8__159" xml:lang="en">Karina Deacon</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
   <cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx-43" id="s8_notesesefdkgaap__8__158" xml:lang="en">President &amp; CEO</cmn:TitleOfMemberOfExecutiveBoard>
   <cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx-44" id="s8_notesesefdkgaap__8__160" xml:lang="en">Executive Vice President &amp; CFO</cmn:TitleOfMemberOfExecutiveBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-45" id="s8_notesesefdkgaap__8__161" xml:lang="en">Claus V. Hemmingsen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-46" id="s8_notesesefdkgaap__8__162" xml:lang="en">Klaus Nyborg</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-53" id="s8_notesesefdkgaap__8__171" xml:lang="en">Minna Aila</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-47" id="s8_notesesefdkgaap__8__163" xml:lang="en">Anders Götzsche</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-45" id="s8_notesesefdkgaap__8__165" xml:lang="en">Chair</cmn:TitleOfMemberOfSupervisoryBoard>
   <cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-46" id="s8_notesesefdkgaap__8__166" xml:lang="en">Vice Chair</cmn:TitleOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-52" id="s8_notesesefdkgaap__8__170" xml:lang="en">Marianne Henriksen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-50" id="s8_notesesefdkgaap__8__168" xml:lang="en">Kristian Kristensen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-49" id="s8_notesesefdkgaap__8__167" xml:lang="en">Jill Lauritzen Melby</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-51" id="s8_notesesefdkgaap__8__169" xml:lang="en">Lars Skjold-Hansen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-48" id="s8_notesesefdkgaap__8__164" xml:lang="en">Dirk Reich</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements contextRef="ctx-1" id="s8_notesesefdkgaap__8__173" xml:lang="en">TO THE SHAREHOLDERS OF DFDS A/S</arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements>
   <arr:OpinionOnAuditedFinancialStatements contextRef="ctx-1" id="s8_notesesefdkgaap__8__174" xml:lang="en">Our OpinionIn our opinion, the consolidated financial statements and the Parent company financial statements give a true and fair view of the Group’s and the Parent company’s financial position at 31 December 2023 and of the results of the Group’s and the Parent company’s operations and cash flows for the financial year 1 January to 31 December 2023 in accordance with IFRS Accounting Standards as adopted by the EU and further requirements in the Danish Financial Statements Act.Our opinion is consistent with our Auditor’s Long-form Report to the Audit Committee and the Board of Directors. What we have auditedThe consolidated financial statements and Parent company financial statements of DFDS A/S for the financial year 1 January to 31 December 2023 (pages 87 - 166) comprise income statement and statement of comprehensive income, balance sheet, statement of changes in equity, cash flow statement and notes, including material accounting policy information for the Group as well as for the Parent company. Collectively referred to as the “financial statements”.</arr:OpinionOnAuditedFinancialStatements>
   <arr:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="ctx-1" id="s8_notesesefdkgaap__8__175" xml:lang="en">Basis for opinionWe conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.IndependenceWe are independent of the Group in accordance with the International Ethics Standards Board for Accountants’ International Code of Ethics for Profes-sional Accountants (IESBA Code) and the additional ethical require    ments applicable in Denmark. We have also fulfilled our other ethical responsi-bilities in accordance with these requirements and the IESBA Code.  To the best of our knowledge and belief, prohibited non-audit services referred to in Article 5(1) of Regulation (EU) No 537/2014 were not provided.AppointmentWe were first appointed auditors of DFDS A/S on 23 March 2021 for the financial year 2021. We have been reappointed annually by shareholder resolution for a total period of uninterrupted engagement of 3 years including the financial year 2023.</arr:DescriptionOfQualificationsOfAuditedFinancialStatements>
   <arr:KeyAuditMattersAudit contextRef="ctx-1" id="s8_notesesefdkgaap__8__176" xml:lang="en">Key audit mattersKey audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial statements for 2023. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.AcquisitionsThe Group made a number of acquisitions in 2023 of which the acquisition of McBurney Transport Group is considered a significant acquisition for the Group.The Group prepared purchase price allocations (‘PPA’) for the acquisitions made during 2023 resulting in various assets and liabilities being separately valued. In order to determine the fair value of the separately identified assets and liabilities as part of the acquisitions, the valuation methodologies require input based on assumptions about the future and use of discounted cash flow forecasts. The significant judgements and estimates involved in the PPA mainly related to assessing the fair value of customer relationships and property, plant and equipment including right-of-use assets. We focused on the PPA because it involves the identification of the acquired assets and liabilities and their respective fair values, which requires complex and subjective judgements and estimates by Management, which are material for the Financial Statements. Reference is made to note 5.5 in the consolidated financial statements. How our audit addressed the Key Audit MatterAs part of our audit, we assessed whether the acquisitions made during 2023 met the criteria of a business combination in accordance with IFRS Accounting Standards.  Our focus for 2023 was on the acquisition of McBurney Transport Group, where we audited the acquisition balance before adjustments as well as the purchase price adjustments (‘PPA’) made.  We reconciled the purchase price to the Share Purchase Agreement, assessed the contingent consideration, and verified the cash paid to documentation for bank transfers. We audited the PPA adjustments made by Management by assessing the main judgements and estimates, hereunder the methodologies and models used. We tested the main data and challenged significant assumptions applied by Management. We also tested the calculations made in the PPA model. We involved our internal valuation experts in assessing the valuation methodologies and the significant assumptions used by management. Finally, we assessed the disclosures relating to business combinations.Valuation of goodwill, terminals, ferries and other related assetsThe carrying amount of non-current tangible assets (including right of use assets) as well as intangible assets is significant to the consolidated financial statements. Management monitors the carrying value of the above-mentioned assets based on defined CGU’s and performs impairment tests, if any indication of impairment or reversal of previous impairments exist. Furthermore, goodwill is tested once a year for impairment. Management’s assessment of the recoverability of the carrying amount of the above-mentioned assets is based on value-in-use calculations. Furthermore, independent broker valuations are obtained to assess the fair value less cost to sell of ferries and other ships. Bearing in mind the generally long-lived nature of the above-mentioned assets, the significant assumptions in estimating the value-in-use calculations are the scenarios applied, revenue, EBIT margin, future investments, and growth expectations. The impairment tests performed did not lead to impairments or reversals of impairments being recognised in the consolidated financial statements. We focused on this area as the amounts involved are significant and because Management is required to perform estimates and exercise judgements and because of the inherent complexity in estimating the value-in-use. Reference is made to note 3.1.4 in the consolidated financial statements. How our audit addressed the Key Audit MatterAs part of our audit, we challenged the impairment indicator assessment performed by Management. We considered the appropriateness of the CGUs defined by Management and the methodology used by Management to assess the carrying amount of non-current assets assigned to CGUs. We carried out risk assessment procedures in order to obtain an understanding of IT systems, business processes and relevant controls regarding data and assumptions used in the impairment models. For the controls, we assessed whether they were designed and implemented to effectively address the risk of material misstatement. For selected controls that we planned to rely on, we tested whether they were performed on a consistent basis.We assessed the impairment tests prepared by Management and tested the mathematical accuracy of the relevant value-in-use models, tested the data and challenged the significant assumptions applied in relation to scenarios, revenue, EBIT margin, future investments and growth expectations, etc. We further assessed Management’s estimates of useful life and residual values.In assessing the discounting rates (WACCs) and the overall methodology applied, we involved our valuation specialists. Finally, we assessed the disclosures of these matters in the consolidated financial statements.</arr:KeyAuditMattersAudit>
   <arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements contextRef="ctx-1" id="s8_notesesefdkgaap__8__177" xml:lang="en">Statement on the Management’s ReviewManagement is responsible for Management’s Review (pages 1 - 86).Our opinion on the financial statements does not cover Management’s Review, and we do not express any form of assurance conclusion thereon.In connection with our audit of the financial statements, our responsibility is to read Management’s Review and, in doing so, consider whether Management’s Review is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. Moreover, we considered whether Management’s Review includes the disclosures required by the Danish Financial Statements Act and Article 8 of Regulation (EU) 2020/852 (EU Taxonomy Regulation). Based on the work we have performed, in our view, Management’s Review is in accordance with the consolidated financial statements and the Parent company financial statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act and the disclosure requirements of Article 8 of Regulation (EU) 2020/852 (EU Taxonomy Regulation. We did not identify any material misstatement in Management’s Review.</arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements>
   <arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements contextRef="ctx-1" id="s8_notesesefdkgaap__8__178" xml:lang="en">Management’s responsibilities for the financial statements Management is responsible for the preparation of consolidated financial statements and parent company financial statements that give a true and fair view in accordance with IFRS Accounting Standards as adopted by the EU and further requirements in the Danish Financial Statements Act, and for such internal control as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.In preparing the financial statements, Management is responsible for assessing the Group’s and the Parent company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless Management either intends to liquidate the Group or the Parent company or to cease operations, or has no realistic alternative but to do so.</arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements>
   <arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed contextRef="ctx-1" id="s8_notesesefdkgaap__8__179" xml:lang="en">Auditor’s responsibilities for the audit of the financial statementsOur objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.As part of an audit in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepticism throughout the audit. We also:•  Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, for-gery, intentional omissions, misrepresentations, or the override of inter-nal control.•  Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s and the Parent company’s internal control.•  Evaluate the appropriateness of accounting policies used and the rea-sonableness of accounting estimates and related disclosures made by Management.•  Conclude on the appropriateness of Management’s use of the going concern basis of accounting and based on the audit evidence ob-tained, whether a material uncertainty exists related to events or condi-tions that may cast significant doubt on the Group’s and the Parent company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our au-ditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclu-sions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Group or the Parent company to cease to continue as a going concern.•  Evaluate the overall presentation, structure and content of the finan-cial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a man-ner that gives a true and fair view.•  Obtain sufficient appropriate audit evidence regarding the financial in-formation of the entities or business activities within the Group to ex-press an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence and, where applicable, actions taken to eliminate threats or safeguards applied.From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter.</arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed>
   <arr:AuditorsReportOnXbrlTagging contextRef="ctx-1" id="s8_notesesefdkgaap__8__180" xml:lang="en">Report on compliance with the ESEF Regulation As part of our audit of the financial statements we performed procedures to express an opinion on whether the annual report of DFDS A/S for the financial year 1 January to 31 December 2023 with the filename DFDS-2023-12-31-en is prepared, in all material respects, in compliance with the Commission Delegated Regulation (EU) 2019/815 on the European Single Electronic Format (ESEF Regulation) which includes requirements related to the preparation of the annual report in XHTML format and iXBRL tagging of the consolidated financial statements including notesManagement is responsible for preparing an annual report that complies with the ESEF Regulation. This responsibility includes:•  The preparing of the annual report in XHTML format;•  The selection and application of appropriate iXBRL tags, including ex-tensions to the ESEF taxonomy and the anchoring thereof to elements in the taxonomy, for all financial information required to be tagged us-ing judgement where necessary;•  Ensuring consistency between iXBRL tagged data and the consolidat-ed financial statements presented in human-readable format; and•  For such internal control as Management determines necessary to en-able the preparation of an annual report that is compliant with the ESEF Regulation.Our responsibility is to obtain reasonable assurance on whether the annual report is prepared, in all material respects, in compliance with the ESEF Regulation based on the evidence we have obtained, and to issue a report that includes our opinion. The nature, timing and extent of procedures selected depend on the auditor’s judgement, including the assessment of the risks of material departures from the requirements set out in the ESEF Regulation, whether due to fraud or error. The procedures include:•  Testing whether the annual report is prepared in XHTML format;•  Obtaining an understanding of the company’s iXBRL tagging process and of internal control over the tagging process;•  Evaluating the completeness of the iXBRL tagging of the consolidated financial statements including notes;•  Evaluating the appropriateness of the company’s use of iXBRL ele-ments selected from the ESEF taxonomy and the creation of extension elements where no suitable element in the ESEF taxonomy has been identified; •  Evaluating the use of anchoring of extension elements to elements in the ESEF taxonomy; and•  Reconciling the iXBRL tagged data with the audited consolidated fi-nancial statements.In our opinion, the annual report of DFDS A/S for the financial year 1 January to 31 December 2023 with the file name DFDS-2023-12-31-en is prepared, in all material respects, in compliance with the ESEF Regulation.</arr:AuditorsReportOnXbrlTagging>
   <arr:SignatureOfAuditorsPlace contextRef="ctx-1" id="s8_notesesefdkgaap__8__181" xml:lang="en">Hellerup</arr:SignatureOfAuditorsPlace>
   <cmn:NameOfAuditFirm contextRef="ctx-55" id="s8_notesesefdkgaap__8__184" xml:lang="en">PricewaterhouseCoopersStatsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirm>
   <cmn:NameOfAuditFirm contextRef="ctx-54" id="s8_notesesefdkgaap__8__183" xml:lang="en">PricewaterhouseCoopersStatsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirm>
   <cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx-54" id="s8_notesesefdkgaap__8__185" xml:lang="en">33771231</cmn:IdentificationNumberCvrOfAuditFirm>
   <cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx-55" id="s8_notesesefdkgaap__8__186" xml:lang="en">33771231</cmn:IdentificationNumberCvrOfAuditFirm>
   <cmn:NameAndSurnameOfAuditor contextRef="ctx-54" id="s8_notesesefdkgaap__8__187" xml:lang="en">Rasmus Friis Jørgensen</cmn:NameAndSurnameOfAuditor>
   <cmn:NameAndSurnameOfAuditor contextRef="ctx-55" id="s8_notesesefdkgaap__8__190" xml:lang="en">Thomas Wraae Holm</cmn:NameAndSurnameOfAuditor>
   <cmn:DescriptionOfAuditor contextRef="ctx-54" id="s8_notesesefdkgaap__8__188" xml:lang="en">State Authorised  Public Accountant</cmn:DescriptionOfAuditor>
   <cmn:DescriptionOfAuditor contextRef="ctx-55" id="s8_notesesefdkgaap__8__191" xml:lang="en">State AuthorisedPublic Accountant</cmn:DescriptionOfAuditor>
   <cmn:IdentificationNumberOfAuditor contextRef="ctx-54" id="s8_notesesefdkgaap__8__189" xml:lang="en">mne28705</cmn:IdentificationNumberOfAuditor>
   <cmn:IdentificationNumberOfAuditor contextRef="ctx-55" id="s8_notesesefdkgaap__8__192" xml:lang="en">mne30141</cmn:IdentificationNumberOfAuditor>
   <gsd:AddressOfSubmittingEnterpriseStreetAndNumber contextRef="ctx-1" id="s8_notesesefdkgaap__8__203" xml:lang="en">Marmorvej 18</gsd:AddressOfSubmittingEnterpriseStreetAndNumber>
   <gsd:AddressOfReportingEntityStreetName contextRef="ctx-1" id="s8_notesesefdkgaap__8__195" xml:lang="en">Marmorvej</gsd:AddressOfReportingEntityStreetName>
   <gsd:AddressOfReportingEntityStreetBuildingIdentifier contextRef="ctx-1" id="s8_notesesefdkgaap__8__197" xml:lang="en">18</gsd:AddressOfReportingEntityStreetBuildingIdentifier>
   <gsd:AddressOfSubmittingEnterprisePostcodeAndTown contextRef="ctx-1" id="s8_notesesefdkgaap__8__204" xml:lang="en">2100 Copenhagen Ø</gsd:AddressOfSubmittingEnterprisePostcodeAndTown>
   <gsd:AddressOfReportingEntityPostCodeIdentifier contextRef="ctx-1" id="s8_notesesefdkgaap__8__198" xml:lang="en">2100</gsd:AddressOfReportingEntityPostCodeIdentifier>
   <gsd:AddressOfReportingEntityDistrictName contextRef="ctx-1" id="s8_notesesefdkgaap__8__199" xml:lang="en">Copenhagen Ø</gsd:AddressOfReportingEntityDistrictName>
   <gsd:TelephoneNumberOfReportingEntity contextRef="ctx-1" id="s8_notesesefdkgaap__8__200" xml:lang="en">+45 3342 3342</gsd:TelephoneNumberOfReportingEntity>
   <gsd:HomepageOfReportingEntity contextRef="ctx-1" id="s8_notesesefdkgaap__8__201" xml:lang="en">dfds.com</gsd:HomepageOfReportingEntity>
   <gsd:IdentificationNumberCvrOfReportingEntity contextRef="ctx-1" id="s8_notesesefdkgaap__8__202" xml:lang="en">14194711</gsd:IdentificationNumberCvrOfReportingEntity>
   <gsd:IdentificationNumberCvrOfSubmittingEnterprise contextRef="ctx-1" id="s8_notesesefdkgaap__8__205" xml:lang="en">14194711</gsd:IdentificationNumberCvrOfSubmittingEnterprise>
   <gsd:InformationOnTypeOfSubmittedReport contextRef="ctx-1" xml:lang="en">Annual report</gsd:InformationOnTypeOfSubmittedReport>
   <cmn:TypeOfAuditorAssistance contextRef="ctx-1" xml:lang="en">Auditor's report on audited financial statements</cmn:TypeOfAuditorAssistance>
   <gsd:ToolForPreparingTheXBRLInstanceDocument contextRef="ctx-1" xml:lang="en">ParsePort XBRL Converter</gsd:ToolForPreparingTheXBRLInstanceDocument>
   <gsd:ReportingPeriodStartDate contextRef="ctx-1" xml:lang="en">2023-01-01</gsd:ReportingPeriodStartDate>
   <gsd:ReportingPeriodEndDate contextRef="ctx-1" xml:lang="en">2023-12-31</gsd:ReportingPeriodEndDate>
   <gsd:PrecedingReportingPeriodStartDate contextRef="ctx-1" xml:lang="en">2022-01-01</gsd:PrecedingReportingPeriodStartDate>
   <gsd:PredingReportingPeriodEndDate contextRef="ctx-1" xml:lang="en">2022-12-31</gsd:PredingReportingPeriodEndDate>
   <gsd:LegalEntityIdentifierOfReportingEntity contextRef="ctx-1" xml:lang="en">549300JZVW1Y1UZ5UK38</gsd:LegalEntityIdentifierOfReportingEntity>
   <fsa:ClassOfReportingEntity contextRef="ctx-1" xml:lang="en">Reporting class D</fsa:ClassOfReportingEntity>
   <arr:TypeOfModifiedOpinionOnAuditedFinancialStatements contextRef="ctx-1" xml:lang="en">Opinion</arr:TypeOfModifiedOpinionOnAuditedFinancialStatements>
   <arr:TypeOfBasisForModifiedOpinionOnAuditedFinancialStatements contextRef="ctx-1" xml:lang="en">Basis for Opinion</arr:TypeOfBasisForModifiedOpinionOnAuditedFinancialStatements>
   <sob:DateOfApprovalOfAnnualReport contextRef="ctx-1" xml:lang="en">2024-02-22</sob:DateOfApprovalOfAnnualReport>
   <arr:SignatureOfAuditorsDate contextRef="ctx-1" xml:lang="en">2024-02-22</arr:SignatureOfAuditorsDate>
</xbrli:xbrl>