DSV, 646 - Interim Financial Report First quarter 2017
Company Announcement no. 646
2 May 2017
Selected financial and operating data for the period 1 January — 31 March 2017
| (DKKm) | Q1 2017 | Q1 2016 | ||
| Net revenue | 18,223 | 15,319 | ||
| Gross profit | 4,220 | 3,607 | ||
| Operating profit before special items | 1,129 | 643 | ||
| Operating margin | 6.2% | 4.2% | ||
| Conversion ratio | 26.8% | 17.8% | ||
| Special items, costs | 160 | 370 | ||
| Profit before tax | 875 | 319 | ||
| Adjusted earnings for the period | 809 | 527 | ||
| Adjusted free cash flow | 839 | 438 | ||
| Diluted adjusted earnings per share of DKK 1 for the period | 4.30 | 2.83 |
Jens Bjørn Andersen, CEO: "A very strong set of Q1 numbers brings us even closer to our goal of reaching pre-UTi performance levels and margins. All three divisions have recorded a significant increase in earnings in the quarter, which is very satisfactory. In addition to following our integration plans, we have increased our sales efforts in order to secure future market share gains."
Gross profit and EBIT before special items for Q1 2017 were positively impacted by property gains of approx. DKK 125 million. In combination with the underlying financial performance for the quarter this leads to an upward adjustment of the full-year outlook for 2017 as follows:
- Operating profit before special items is expected to be in the range of DKK 4,300-4,600 million (previously DKK 4,200-4,500 million).
- All other expectations for the full-year performance are unchanged.
Contacts
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 has been forwarded to Nasdaq Copenhagen and to the press. It is also available at www.dsv.com.
Yours sincerely,
DSV A/S