Company Announcement No. 991

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

 Q3 2022Q3 2021YTD 2022YTD 2021
Key figures (DKKm)    
Gross profit13,5389,82340,49325,941
Operating profit (EBIT) before special items6,5064,47220,45511,110
Special items, costs4561541,117154
Profit for the period4,4263,16113,8828,017
Adjusted earnings for the period4,8193,33114,8998,301
Adjusted free cash flow  16,7633,718
Conversion ratio48.1%45.5%50.5%42.8%
Diluted adjusted earnings per share of DKK 1 for the last 12 months  78.843.9

Jens Bjørn Andersen, Group CEO: “We are very pleased to report a strong set of results for Q3 2022 and for the first nine months of the year. All three divisions continued the good performance with growth in earnings and market share gains across most of our business areas. The global economic uncertainty has increased, but we have great trust in our flexible business model which enables us to quickly adapt to changes.”

Outlook for 2022
By separate company announcement on 25 October DSV upgrades the full-year outlook for 2022. The upgrade is based on the strong performance in the first nine months of 2022 and our expectations for Q4:

  • EBIT before special items is expected to be in the range of DKK 24,500-25,500 million (previously DKK 23,000-25,000 million).

Share buyback

By separate company announcement on 25 October 2022, DSV will launch a new share buyback programme of up to DKK 3 billion. The share buyback programme will be concluded no later than on 14 November 2022. The share buyback programme will be executed in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (“MAR”) (save for the rules on share buyback programmes set out in MAR article 5). The execution of the share buyback programme will take place outside the scope of the Commission Delegated Regulation (EU) 2016/1052 (“the Safe Harbour Regulation”).

Following the conclusion of the share buyback programme outside the Safe Harbour Regulation, a second share buyback programme of up to DKK 4 billion will be launched on 15 November 2022 in compliance with MAR and the Safe Harbour Regulation. The safe harbour share buyback programme will be concluded no later than 1 February 2023. A separate company announcement will be issued prior to launch of the safe harbour share buyback programme.

An extraordinary general meeting of DSV A/S will be convened shortly to take place on 22 November 2022 with a view to proposing a reduction of the share capital (treasury shares) and a renewal of the authorisation to acquire treasury shares.


Investor Relations: Flemming Ole Nielsen, tel. +45 43 20 33 92, flemming.o.nielsen@dsv.com
Media: Christian Krogslund, tel. +45 43 20 41 28, christian.krogslund@dsv.com

Yours sincerely,