DSV, 637 - Interim Financial Report H1 2016

05.08.2016

 

 

Company Announcement No. 637

 5 August 2016

 

Selected financial and operating data for the period 1 January - 30 June 2016
 

 

(DKKm) Q2 2016 Q2 2015 YTD 2016  YTD 2015
         
Net revenue    17,606     13,127       32,925      25,728
Gross profit             4,214           2,887          7,821    5,569
Operating profit before special    items                 900         809           1,543           1,450
Operating margin     5.1%   6.2%     4.7%    5.6%
Conversion ratio 21.4%   28.0%   19.7%  26.0%
Net special items, costs 341 711
Profit before tax            455              710              774          1,279
Adjusted earnings for the period           610            560            1,137            1,014
Adjusted free cash flow                             756           1,192
Diluted adjusted earnings per share for the period          3.27           3.27            6.11         5.93

Jens Bjørn Andersen, CEO: "With earnings growth of more than 10%, we are very satisfied with our performance in the second quarter. DSV continues the positive development, and UTi's operating deficit has been neutralised only five months after the acquisition. The integration of UTi is progressing faster than we had originally anticipated, and the merger of offices and IT systems is already more than halfway complete. UTi's and DSV's employees and operations are being united step by step across the world, and it is great to see that our new colleagues are highly motivated to become part of the DSV culture — that is crucial for a successful integration."

The consolidated full-year outlook for 2016 previously announced is adjusted as follows:

  • Operating profit before special items is expected to be in the range of DKK 3,300-3,500 million (previously DKK 3,100-3,500 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