Interim financial report for Q3 2017 released

"A strong commercial and operational performance in Q3 has driven earnings growth of more than 30% and a volume performance in line with or above the market. We are pleased to see our business continuously improving, and based on this, we upgrade our expectations for 2017 and launch a five-month share buyback programme of DKK 1,250 million."

26-10-2017

Selected financial and operating data for the period 1 January-30 September 2017

(DKKm)	Q3 2017	Q3 2016	YTD 2017	YTD 2016

Net revenue	18,735	17,205	55,882	50,130
Gross profit	4,114	4,019	12,551	11,839
Operating profit before special items	1,313	1,003	3,682	2,546
Operating margin	7.0%	5.8%	6.6%	5.1%
Conversion ratio	31.9%	25.0%	29.3%	21.5%
Special items, costs	123	155	371	866
Profit before tax	1,041	763	2,886	1,537
Adjusted earnings for the period	941	692	2,578	1,829
Adjusted free cash flow		3,047	1,248
Diluted adjusted earnings per share of DKK 1 for the period	4.96	3.69	13.63	9.79

Jens Bjørn Andersen, CEO:

The consolidated full-year outlook previously announced for 2017 is adjusted as follows:

Operating profit before special items is expected to be in the range of DKK 4,700-4,900 million (previously DKK 4,500-4,700 million).

Net financial expenses, excluding foreign exchange adjustments, are expected to approximate DKK 300 million (unchanged).

Adjusted free cash flow is expected to approximate DKK 4,400 million (previously DKK 4,250 million).

The effective tax rate is expected to be 23% (unchanged).

The revised expectations are partly driven by higher than expected activity levels, mainly in the Air & Sea division. At the same time, the cost synergies from the UTi integration have been achieved faster than expected in 2017. As a consequence, the remaining full-year impact from cost synergies is now expected to be DKK 200 million in 2018 (previously DKK 300 million).

Get the full report here

DSV – Global transport and logistics

In 1976, 10 independent hauliers joined forces and founded DSV in Denmark. Since then, DSV has evolved to become the world’s fourth largest supplier of global solutions within transport and logistics.

Today, we add value to our customers’ entire supply chain by transporting, storing, packaging, re-packaging, processing and clearing all types of goods. We work every day from our many offices in more than 80 countries to ensure a steady supply of goods to production lines, outlets, stores and consumers all over the world. Our reach is global yet our presence is local and close to our customers.