Company announcement No. 619
28 October 2015
Selected financial and operating data for the period 1 January - 30 September 2015
| (DKKm) | Q3 2015 | Q3 2014 | YTD 2015 | YTD 2014 |
| Net revenue | 12,535 | 12,279 | 38,263 | 36,043 |
| Gross profit | 2,802 | 2,609 | 8,371 | 7,682 |
| Operating profit before special items | 851 | 728 | 2,301 | 1,975 |
| Operating margin | 6.8% | 5.9% | 6.0% | 5.5% |
| Conversion ratio | 30.4% | 27.9% | 27.5% | 25.7% |
| Profit before tax | 773 | 653 | 2,052 | 1,440 |
| Adjusted earnings for the period | 603 | 512 | 1,617 | 1,378 |
| Adjusted free cash flow | 1,864 | 1,048 | ||
| Diluted adjusted earnings per share of DKK 1 for the period | 3.55 | 2.98 | 9.48 | 7.87 |
Jens Bjørn Andersen, CEO: "We are extremely pleased with the progress for the third quarter of 2015; DSV has gained market share in all business areas, with both earnings and cash flow keeping up. The Air & Sea Division continues the positive development and delivers 24% growth in operating profit, and we can raise our overall performance outlook for 2015. Very recently, we announced the acquisition of UTi Worldwide Inc., and the transaction is expected to be approved by the UTi shareholders and the relevant authorities during the first quarter of 2016. It is the largest business acquisition ever in the history of DSV, and we look forward to offering customers an even stronger network."
The consolidated full-year outlook for 2015 previously announced is raised as follows:
- Gross profit is expected to be in the range of DKK 11,000-11,200 million (previously DKK 10,900-11,200 million)
- Operating profit before special items is expected to be in the range of DKK 2,950-3,050 million (previously DKK 2,850-3,000 million)
- Free cash flow before any acquisition or divestment of enterprises is expected to approximate DKK 2,200 million (previously DKK 2,100 million)
All other expectations for the full-year performance are unchanged.
Inquiries relating to the Interim Financial Report may be addressed to:
Jens Bjørn Andersen, CEO, tel. +45 43 20 30 40
Jens H. Lund, CFO, tel. +45 43 20 30 40
Flemming Ole Nielsen, Director Investor Relations, tel. +45 43 20 33 92 or by email to investor@dsv.com
This announcement is available at www.dsv.com. The announcement has been prepared in Danish and in English. In the event of discrepancies, the Danish version prevails.
Yours sincerely,
DSV A/S