Company announcement no. 640
1 November 2016
Selected financial and operating data for the period 1 January — 30 September 2016
| (DKKm) | Q3 2016 | Q3 2015 | YTD 2016 | YTD 2015 |
| Net revenue | 17,205 | 12,535 | 50,130 | 38,263 |
| Gross profit | 4,019 | 2,802 | 11,839 | 8,371 |
| Operating profit before special items | 1,003 | 851 | 2,546 | 2,301 |
| Operating margin | 5.8% | 6.8% | 5.1% | 6.0% |
| Conversion ratio | 25.0% | 30.4% | 21.5% | 27.5% |
| Net special items, costs | 155 | - | 866 | - |
| Profit before tax | 763 | 773 | 1,537 | 2,052 |
| Adjusted earnings for the period | 692 | 603 | 1,829 | 1,617 |
| Adjusted free cash flow | 807 | 1,864 | ||
| Diluted adjusted earnings per share for the period | 3.69 | 3.55 | 9.79 | 9.48 |
Jens Bjørn Andersen, CEO: "We are keeping momentum in the UTi integration process, and all three Divisions have delivered solid growth. The positive development in the third quarter is again proof that all employees across the Group are working hard to deliver good results. With aggregate earnings growth of 18% for the quarter, we are once again very pleased with DSV's performance."
The 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 3,400-3,500 million (previously DKK 3,300-3,500 million).
- Net financial expenses are expected to approximate DKK 350 million (previously DKK 450 million), net of foreign currency translation adjustments.
- The effective tax rate is expected to be around 27.0 (previously 25.0).
All other expectations for the full-year performance are unchanged.
Contact persons
Investor Relations
Flemming Ole Nielsen, tel. +45 43 20 33 92, flemming.o.nielsen@dsv.com
Ronni Funch Olsen, tel. +45 43 20 31 93, ronni.f.olsen@dsv.com
Media
Tina Hindsbo, tel. +45 43 20 36 63, tina.hindsbo@dsv.com
This announcement is available at www.dsv.com. The announcement has been prepared in Danish and in English. In case of discrepancies, the Danish version will prevail.
Yours sincerely,
DSV A/S