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DSV, 972 - Interim Financial Report H1 2022

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DSV A/S
DSV A/S

Company Announcement No. 972

Selected key figures and ratios for the period 1 January 30 June 2022

 

Q2 2022

Q2 2021

YTD 2022

YTD 2021

 

 

 

 

 

Key figures (DKKm)

 

 

 

 

Revenue

62,749

37,831

123,874

71,447

Gross profit

14,078

8,333

26,955

16,118

Operating profit (EBIT) before special items

7,453

3,571

13,949

6,638

Special items, costs

257

-

661

-

Profit for the period

5,070

2,527

9,456

4,856

Adjusted earnings for the period

5,333

2,580

10,080

4,970

Adjusted free cash flow

 

 

10,688

2,817

 

 

 

 

 

Ratios

 

 

 

 

Conversion ratio

52.9%

42.9%

51.7%

41.2%

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

 

 

71.8

37.1

Jens Bjørn Andersen, Group CEO: “In Q2 2022, we continued to deliver strong results across all business areas. For the first six months of the year, EBIT before special items doubled and free cash flow more than tripled compared to the same period last year. We have now completed most of the GIL integration, and we can look back on a swift and successful integration, thanks to a solid effort across our organisation.

The uncertainty in the global economy has intensified and the demand for freight services has softened in recent months. Still, large parts of global supply chains are challenged by congestion, and our focus remains on assisting and finding the right solutions for our customers.

Outlook for 2022
Based on DSV’s strong performance in H1 2022 and our expectations for the remainder of the year, we upgrade the full-year outlook for 2022 as follows:

  • EBIT before special items is expected to be in the range of DKK 23,000-25,000 million (previously DKK 21,000-23,000 million).

The outlook is based on the assumption of a global GDP growth in the level of 2-3% for 2022. We expect that the demand for air and sea freight transport will remain soft for the rest of the year. Uncertainty concerning the macro environment and the global logistics market remains high and changes to the outlook may occur.

Share buyback

A separate company announcement about the launch of a new share buyback programme of up to DKK 7 billion will be issued 26 July 2022. The programme will be concluded no later than 24 October 2022.

Contacts

Investor Relations: Flemming Ole Nielsen, tel. +45 43 20 33 92, flemming.o.nielsen@dsv.com

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

Yours sincerely,
DSV A/S

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