DSV presents solid Q3 results

Today's highlights:

• The DSV Group achieved solid results in Q3 2024 with continuing improvement in earnings driven by positive volume growth across all divisions.
• Quarterly gross profit improved by 4.8% and EBIT before special items was 1.5% higher compared to the same period last year leading to sequential growth in diluted adjusted EPS of 2.1%.
• Adjusted free cash flow generation in Q3 2024 improved to DKK 2,524 million.
• Full-year 2024 guidance for EBIT before special items of DKK 16,000-17,000 million.
  
  Jens H. Lund, Group CEO:
  
  “The third quarter of 2024 has been a landmark for our company with the agreement to acquire Schenker creating a world leader within transport and logistics and, following the announcement, we have successfully raised EUR 5 billion in equity from a broad range of long-term investors. We look forward to welcoming our colleagues from Schenker and together build a world-class transport and logistics company with a unique global network and service offerings to our customers. Our financial results in Q3 2024 show continued positive earnings growth. Our quarterly gross profit and EBIT before special items have increased on a year-over-year basis for the first time since Q3 2022, driven by positive volume growth across all divisions and higher gross profit.”

Outlook for 2024:

Based on our performance in the first nine months of 2024 and our expectations for the rest of the year, we revised the full-year EBIT outlook for 2024 on 3 October 2024 to the following (reference is made to Announcement No. 1135):

• EBIT before special items is expected to be in the range of DKK 16,000-17,000 million (previously DKK 15,500-17,000 million).
• The effective tax rate is expected to be approximately 24%.
• One-off costs (special items) are expected to be in the level of DKK 650 million in 2024.

Read the Q3 company announcement.