Company Announcement No. 1065
Selected key figures and ratios for the period 1 January - 30 September 2023
|Q3 2023||Q3 2022||YTD 2023||YTD 2022|
|Key figures (DKKm)|
|Operating profit (EBIT) before special items||4,396||6,506||13,773||20,455|
|Special items, costs||-||456||-||1,117|
|Profit for the period||2,808||4,426||9,470||13,882|
|Adjusted earnings for the period||2,864||4,819||9,652||14,899|
|Adjusted free cash flow||10,803||16,763|
|Diluted adjusted earnings per share of DKK 1 for the last 12 months||63.1||78.8|
Jens Bjørn Andersen, Group CEO: “In markets characterised by soft freight volumes and declining rates, we delivered solid results during the first nine months of 2023. The results reflect our flexible business model and, not least, our dedicated employees, who continue to deliver good customer service and efficiently manage our capacity. A real recovery in global freight volumes does not seem to materialise in 2023, but based on the performance so far, we raise the lower end of our 2023 EBIT guidance.
Finally, I will add a comment to the recently announced changes to the Executive Board, which will have effect in September 2024. This will not impact our operations or the execution of our strategy. It will be business as usual, and in the senior management team we are committed to securing a good handover process.”
Outlook for 2023
Based on our performance in the first nine months of 2023 and our expectations for Q4 2023, we narrow the full-year outlook for 2023 as follows:
- EBIT before special items is expected to be in the range of DKK 17,500-18,500 million (previously DKK 17,000-18,500 million).
A separate announcement about the launch of a new share buyback programme of up to DKK 2.5 billion is issued today. The programme will be concluded no later than 31 January 2024.