DSV, 972 - Interim Financial Report H1 2022


Company Announcement No. 972

Selected key figures and ratios for the period 1 January 30 June 2022

 Q2 2022Q2 2021YTD 2022YTD 2021
Key figures (DKKm)    
Gross profit14,0788,33326,95516,118
Operating profit (EBIT) before special items7,4533,57113,9496,638
Special items, costs257-661-
Profit for the period5,0702,5279,4564,856
Adjusted earnings for the period5,3332,58010,0804,970
Adjusted free cash flow  10,6882,817
Conversion ratio52.9%42.9%51.7%41.2%
Diluted adjusted earnings per share of DKK 1 for the last 12 months  71.837.1

Jens Bjørn Andersen, Group CEO: “In Q2 2022, we continued to deliver strong results across all business areas. For the first six months of the year, EBIT before special items doubled and free cash flow more than tripled compared to the same period last year. We have now completed most of the GIL integration, and we can look back on a swift and successful integration, thanks to a solid effort across our organisation.

The uncertainty in the global economy has intensified and the demand for freight services has softened in recent months. Still, large parts of global supply chains are challenged by congestion, and our focus remains on assisting and finding the right solutions for our customers.

Outlook for 2022
Based on DSV’s strong performance in H1 2022 and our expectations for the remainder of the year, we upgrade the full-year outlook for 2022 as follows:

  • EBIT before special items is expected to be in the range of DKK 23,000-25,000 million (previously DKK 21,000-23,000 million).

The outlook is based on the assumption of a global GDP growth in the level of 2-3% for 2022. We expect that the demand for air and sea freight transport will remain soft for the rest of the year. Uncertainty concerning the macro environment and the global logistics market remains high and changes to the outlook may occur.

Share buyback

A separate company announcement about the launch of a new share buyback programme of up to DKK 7 billion will be issued 26 July 2022. The programme will be concluded no later than 24 October 2022.


Investor Relations: Flemming Ole Nielsen, tel. +45 43 20 33 92, flemming.o.nielsen@dsv.com

Media: Maiken Riise Andersen, tel. +45 43 20 30 74, maiken.r.andersen@dsv.com  

Yours sincerely,