Interim report for Q1 2016 released

The existing DSV operations continued the positive development of 2015

Man inside cargo airplane

"The acquisition of UTi has been a major theme in the first quarter of 2016. We took over the company at the end of January, and the integration process is ongoing. We have had a good start and the process is proceeding according to plan. It is of the utmost importance that we take good care of our customers during this phase— so far we have been successful doing that and it is something that we monitor closely. As anticipated, UTi contributed a loss in the first months of the year, but the existing DSV operations continued the positive development of 2015."

All in all, we are very pleased to report a Q1 operating profit in line with last year.

Jens Bjørn Andersen, CEO

(DKKm) Q1 2016:

  • Net revenue 15,319           
  • Gross profit 3,607             
  • Operating profit before special items 643                
  • Operating margin 4.2% 
  • Conversion ratio 17.8%
  • Net special items, costs 370                     
  • Profit before tax 319                
  • Adjusted earnings for the period 527                 
  • Adjusted free cash flow 362                
  • Diluted adjusted earnings per share of DKK 1 for the period 2.83

DSV maintains its full-year outlook for 2016 previously announced.

Full report available here.