DSV, 619 - Interim Financial Report Third quarter 2015

28.10.2015

 

 

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