DSV, 841 - INTERIM FINANCIAL REPORT Q3 2020

DSV Panalpina A/S
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Company Announcement No. 841

Selected key figures and ratios for the period 1 January - 30 September 2020

(DKKm)

Q3 2020

Q3 2019

YTD 2020

YTD 2019

Key figures and ratios

Revenue

28,125

24,521

84,216

64,579

Gross profit

7,252

6,271

21,322

16,670

Operating profit (EBIT) before special items

2,725

1,785

6,904

4,870

Special items, costs

453

172

1,479

191

Profit after tax

1,337

1,149

3,058

3,261

Adjusted earnings for the period

1,746

1,403

4,339

3,592

Adjusted free cash flow

5,674

2,453

Operating margin

9.7%

7.3%

8.2%

7.5%

Conversion ratio

37.6%

28.5%

32.4%

29.2%

Diluted adjusted earnings per share of DKK 1 for the last 12 months

21.7

24.2

Jens Bjørn Andersen, Group CEO: “In the third quarter of 2020, all three divisions delivered results above our expectations. Market conditions have been better than anticipated across most of our markets, and at the same time we benefit from efficient cost management. We are happy to announce that all material aspects of the Panalpina integration have now been successfully completed and we can now intensify the focus on organic growth.”

Outlook for 2020

Based on the financial performance for the first nine months of 2020, guidance for full-year 2020 is updated as follows:

  • Operating profit before special items is expected to be above DKK 9,250 million (in line with trading update of 9 October 2020)

  • Special items, costs for 2020 are expected in the level of DKK 2,100 million (previously DKK 2,300 million)

  • The effective tax rate is expected in the level of 25%


The guidance is based on assumptions of a continued gradual improvement of the freight markets with no further material disruptions of global supply chains.

Share buyback

A separate company announcement about the launch of a new share buyback programme of up to DKK 6,000 million will be issued today. The programme will run until 30 April 2021 or earlier if finalised.

Contacts

Investor Relations
Flemming Ole Nielsen, tel. +45 43 20 33 92, flemming.o.nielsen@dsv.com
Frederikke Anna Linde, tel. +45 43 20 31 95, frederikke.a.linde@dsv.com
Mads Kristian Hofmeister, tel. +45 43 20 33 88, madskristian.hofmeister@dsv.com

Media

Maiken Riise Andersen, tel. +45 43 20 30 74, maiken.r.andersen@dsv.com

Yours sincerely,
DSV Panalpina A/S

Attachment


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