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Company Announcements

DSV, 376 - Annual report 2010

24.02.2011 

 

Company Announcement No. 376

Publication of 2010 Annual Report

Major key figures of the 2010 Annual Report (1 January-31 December 2010)

  • Revenue amounted to DKK 42,562 million (2009: DKK 36,085 million)
  • Gross profit came to DKK 9,320 million (2009: DKK 8,898 million), corresponding to a gross margin of 21.9% (2009: 24.7%)
  • Operating profit before special items (EBITA) came to DKK 2,202 million (2009: DKK 1,703 million), corresponding to an EBITA margin of 5.2% (2009: 4.7%)
  • Profit before tax amounted to DKK 1,660 million (2009: DKK 460 million)
  • DSV's share of the profit for the year was DKK 1,184 million (2009: DKK 185 million)
  • Diluted adjusted earnings per share of DKK 1 came to DKK 6.2 (2009: DKK 3.9)
  • Free cash flow adjusted for the acquisition of enterprises amounted to DKK 1,566 million (2009: DKK 1,257 million)

Group Management considers the results for the financial year ended 31 December 2010 very satisfactory. The Supervisory Board proposes increased dividends of DKK 0.50 per share against dividends of DKK 0.25 per share for 2009.

Outlook for 2011

The 2011 outlook of the DSV Group is as follows:

  • Revenue is expected to be in the range of DKK 44,000 - 47,000 million
  • Gross profit is expected to be in the range of DKK 9,800 - 10,200 million
  • Operating profit before special items (EBITA) is expected to be in the range of DKK 2,400 - 2,550 million
  • Financial expenses are expected to net about DKK 400 million
  • The Group expects its tax rate for the year to be close to 27%
  • The free cash flow of the Group is expected to be close to DKK 1,700 million

 

Investor teleconference
As disclosed in company announcement No. 375, DSV invites investors, analysts and others to participate in an investor teleconference on 24 February 2011. The conference can be followed by telephone and as webcast. Further information concerning attendance is provided in company announcement No. 375.

Inquiries relating to the Annual Report

Questions may be addressed to:

Jens Bjørn Andersen, CEO, tel. +45 43 20 30 40, or Jens H. Lund, CFO, tel. +45 43 20 30 40.

This announcement has been forwarded to NASDAQ OMX Copenhagen and to the press. It is also available at www.dsv.com. This announcement has been prepared in Danish and in English. In case of discrepancies, the Danish version shall apply.

 

Yours sincerely,

DSV

Jens Bjørn Andersen            Jens H. Lund                        
CEO                                     CFO

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