DSV, 634 - Interim Financial Report First Quarter 2016

12.05.2016

 

 

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