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Interim Financial Report for Q1 2019 released

Press release   •   Apr 30, 2019 07:34 CEST

Jens Bjørn Andersen, Group CEO comments:

”We delivered strong results in Q1 2019, with healthy top-line growth across all divisions and a 15% underlying growth in EBIT. As previously announced, we have entered into an agreement to join forces with Panalpina and we expect that this transaction will close end Q3 this year. We are very much looking forward to teaming up with Panalpina, and while preparing for the integration, we are focused on delivering good customer service and managing the day to day operations. Our Q1 report is a clear testament to this."

The financial performance for Q1 2019 fully lived up to the expectations for 2019 originally published. However, to facilitate the listing of new shares for the Exchange Offer to the shareholders of Panalpina, DSV withdraws its outlook for 2019 effective as of today. We expect to publish a new financial outlook once the combination with Panalpina is completed.

Selected financial and operating data for the period 1 January - 31 March 2019  

(DKKm) Q1 2019 Q1 2018
excl. IFRS 16
Revenue 19,979 18,380
Gross profit 5,114 4,120
Operating profit before special items 1,454 1,156
Operating margin 7.3% 6.3%
Conversion ratio 28.4% 28.1%
Profit after tax 963 769
Adjusted earnings for the period 993 786
Adjusted free cash flow 540 448
Diluted adjusted earnings per share of DKK 1 for the last 12 months 23.4 18.4

A separate company announcement about the launch of a new six-month share buyback programme of up to DKK 3,500 million will be issued today.

Read the full annoucement here

DSV – Global Transport and Logistics
We provide and manage supply chain solutions for thousands of companies every day – from the small family run business to the large global corporation. Our reach is global, yet our presence is local and close to our customers. 47,000 employees in more than 75 countries work passionately to deliver great customer experiences and high-quality services.

Read more at www.dsv.com

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