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Q1 2018 interim report released

Off to a good start with growth in both freight volumes and EBIT

 

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.
 

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

 

 

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 has been issued also.

 

Read the full report here

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