Company announcement No. 634
12 May 2016
Selected financial and operating data for the period 1 January — 31 March 2016
| (DKKm) | Q1 2016 | Q1 2015 | |||
| Net revenue | 15,319 | 12,601 | |||
| Gross profit | 3,607 | 2,682 | |||
| Operating profit before special items | 643 | 641 | |||
| Operating margin | 4.2% | 5.1% | |||
| Conversion ratio | 17.8% | 23.9% | |||
| Net special items, costs | 370 | - | |||
| Profit before tax | 319 | 569 | |||
| Adjusted earnings for the period | 527 | 454 | |||
| Adjusted free cash flow | 362 | 143 | |||
| Diluted adjusted earnings per share of DKK 1 for the period | 2.83 | 2.65 |
Jens Bjørn Andersen, CEO: "The acquisition of UTi has been a major theme in the first quarter of 2016. We took over the company at the end of January, and the integration process is ongoing. We have had a good start and the process is proceeding according to plan. It is of the utmost importance that we take good care of our customers during this phase — so far we have been successful doing that and it is something that we monitor closely. As anticipated, UTi contributed a loss in the first months of the year, but the existing DSV operations continued the positive development of 2015. All in all, we are very pleased to report a Q1 operating profit in line with last year."
DSV maintains its full-year outlook for 2016 previously announced.
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