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Financial Definitions

Financial Definitions

Key figures
Net interest-bearing debt (NIBD) = Interest-bearing debt less interest-bearing assets and cash and cash equivalents
Net working capital (NWC) =
Receivables and other current operating assets less trade payables and other payables and other current operating liabilities
Invested capital =
NWC + property, plant and equipment, intangible assets including goodwill and customer relationships less long-term provisions
Adjusted earnings =
The DSV A/S shareholders’ share of profit for the reporting period adjusted for amortisation and impairment of goodwill and customer relationships, costs related to share-based payments and special items. The tax effect of the adjustments has been taken into account

 


Financial ratios
Gross margin = Gross profit * 100
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Net revenue
Operating margin = Operating profit before impairment of goodwill and special items * 100
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Net revenue
Conversion ratio = Operating profit before impairment of goodwill and special items * 100
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Gross profit
Effective tax rate* = Tax on profit for the year
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Profit before tax
ROIC before tax = Operating profit before impairment of goodwill and special items * 100
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Average invested capital
Return on equity (ROE) = Profit attributable to the shareholders of DSV A/S * 100
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Average equity excluding non-controlling interests
Solvency ratio = Equity excluding non-controlling interests * 100
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Total assets
Solvency ratio = Equity excluding non-controlling interests * 100
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Total assets
Gearing ratio* = Net interest-bearing debt
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Operating profit before amortisation, impairment of goodwill and special items

 


Share ratios
Earnings per share = Profit attributable to the shareholders of DSV A/S
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Average number of shares
Earnings per share diluted = Profit attributable to the shareholders of DSV A/S
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Average number of shares diluted
Adjusted earnings per share diluted = Adjusted earnings
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Average number of shares diluted
Number of shares = Total number of shares outstanding excluding treasury shares at the reporting date
 
Average number of shares = Average number of shares outstanding during the reporting period
Average number of shares diluted =
Average number of shares outstanding during the reporting period including share options, but excluding out-of-the-money options measured relative to the average share price for the period
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