Interim Announcement for the period ended 30 June 2008
Major key figures of the H1 2008 Interim Financial Report for the period 1
January - 30 June 2008
• Revenue amounted to DKK 17,472 million
• Gross profit came to DKK 3,674 million
• Operating profit before special items came to DKK 908 million
• Profit before tax amounted to DKK 1,190 million
• DSV's share of the profit for the period amounted to DKK 969 million
• Diluted adjusted earnings per share were DKK 3.0 for H1 2008, which amounts
to an annualised figure of DKK 5.9
• Free cash flow for the period adjusted for the acquisition of enterprises
amounted to DKK 352 million
Group Management considers the results for the period very satisfactory.
Agreement on the acquisition of XB Luxemburg Holdings 1 S.A., the parent
company of the ABX Logistics Group ("ABX")
On 21 June 2008, DSV concluded an agreement with 3i Group plc and 3i funds, the
ABX management team and other shareholders on the acquisition of 100% of the
shares in the parent company of the Belgian ABX Group. The transaction is
expected to complete in the third quarter of 2008 and is subject to approval by
the relevant competition authorities. The application and approval procedure is
proceeding as planned.
Outlook for 2008
DSV maintains the expectations for the current activities as announced for H2
2008 in the 2007 Annual Report.
Upon final approval by the competition authorities of the expected acquisition
of ABX and completion of the transaction, DSV will publish a stock exchange
announcement in which the acquisition of ABX has been incorporated into the
Company's expectations. Such announcement will provide further information on
the integration of ABX and the expected synergies, restructuring processes,
working capital and investments etc.
Yours sincerely,
DSV