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Interim Financial Report Q3 2018 Released

DSV delivered healthy top-line growth across all business areas and continued improvement of margins in the first nine months of 2018.

Interim Financial Report Q3 2018 Released

Jens Bjørn Andersen, CEO

We delivered strong results in the first nine months of 2018, including healthy top-line growth across all business areas and continued improvement of our margins. The implementation of trade tariffs continues to create uncertainty in our industry, but so far, we see a negligible impact on our activities. Based on our performance so far and expectations for the rest of the year, we are adjusting our earnings outlook.

Selected Financial and Operating Data for the Period 1 July - 30 September

 (DKKm)  Q3 2018  Q3      2017  YTD 2018  YTD 2017
 Net revenue  20,237  18,735  58,108  55,882
 Gross profit  4,472  4,114  13,042  12,551
 Operating profit (EBIT) before special items  1,507  1,313  4,112  3,682
 Operating margin  7.4%  7.0%  7.1%  6.6%
 Conversion ratio  33.7%  31.9%  31.5%  29.3%
 Profit for the period  1,104  826  3,060  2,237
 Adjusted earnings for the period  1,126  940  3,126  2,578
 Adjusted free cash flow      2,631  3,047
 Diluted adjusted earnings per share of DKK 1 for the period  6.1  5.0  16.8  13.6
         

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 5,400-5,600 million (previously DKK 5,300-5,600 million).
  • Adjusted free cash flow is expected to approximate DKK 4,200 million (unchanged).
  • The effective tax rate is expected to approximate 23% (unchanged).

A separate company announcement about the launch of a new share buyback program of DKK 1,200 million will be issued today.

Full Report Available Here

 

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