DSV, 690 - INTERIM FINANCIAL REPORT FIRST QUARTER 2018

Company announcement no. 690 

Selected financial and operating data for the period 1 January - 31 March 2018

(DKKm)			Q1 2018		Q1 2017
Net revenue			18,380		18,223
Gross profit			4,120		4,220
Operating profit (EBIT) before special items			1,156		1,129
Operating margin			6.3	%	6.2	%
Conversion ratio			28.1	%	26.8	%
Special items, costs			-		160
Profit for the period			769		669
Adjusted earnings for the period			786		809
Adjusted free cash flow			448		839
Diluted adjusted earnings per share of DKK 1 for the period			4.2		4.3

Jens Bjørn Andersen, CEO: “DSV performed well in the first quarter of 2018 and delivered growth in both freight volumes and EBIT. Based on the good start to 2018 and overall positive market trends we increase the low end of the EBIT guidance range for the full-year and launch a new three-month share buyback programme of DKK 1.1 billion.”

The consolidated full-year outlook for 2018 previously announced is adjusted as follows:

Operating profit before special items is expected to be in the range of DKK 5,100-5,400 million (previously DKK 5,000-5,400 million).Adjusted free cash flow is expected to approximate DKK 4,000 million (unchanged).The effective tax rate is expected to be 23% (unchanged).

A separate company announcement about the launch of a three-month share buyback programme of DKK 1,100 million will be issued today.

Contacts

Investor RelationsFlemming Ole Nielsen, tel. +45 43 20 33 92, [email protected]Ronni Funch Olsen, tel. +45 43 20 31 93, [email protected]

MediaTina Hindsbo, tel. +45 43 20 36 63, [email protected]

This announcement has been forwarded to Nasdaq Copenhagen and to the press. It is also available at www.dsv.com.

Yours sincerely,DSV A/S

 

Attachment

690 - Announcement (01.05.2018) - Interim Financial Report - First quarter 2018