News Column

DSV, 556 - Interim Financial Report H1 2014

July 29, 2014

Company Announcement No. 556 30 July 2014 Selected financial and operating data for the period 1 January - 30 June 2014 (DKKm) Q2 Q2 YTD YTD 2014 2013 2014 2013 -------------------------------------------------------------------------------- Net revenue 12,162 11,406 23,764 22,387 Gross profit 2,608 2,553 5,073 4,957 EBIT before special items 701 680 1,247 1,189 Operating margin 5.8% 6.0% 5.2% 5.3% Conversion ratio 26.9% 26.6% 24.6% 24.0% Special items, net - 23 300 25 Profit before tax 626 576 787 1,014 Adjusted earnings for the period 493 465 866 817 Adjusted free cash flow 760 674 Diluted adjusted earnings per share of DKK 1 2.83 2.60 4.92 4.57 for the period -------------------------------------------------------------------------------- Jens BjØrn Andersen, CEO: “We maintained the positive growth trend in number of shipments in all our business areas in the second quarter of 2014. We are gaining market share in a highly competitive market and are seeing a positive development in both earnings and cash flow despite an adverse currency effect. The earnings growth owes to our global air and sea freight activities, which reported top line growth and increased productivity. The European road freight and contract logistics markets are characterised by fierce price competition, which had an impact on our earnings in these business areas. The development in earnings and cash flow shows that the streamlining and cost management initiatives we have launched in 2014 were well-timed and will help fortify DSV’s position among the most profitable global providers of freight forwarding services. We still see good possibilities for growth, both organically and through acquisitions.” DSV maintains its full-year outlook for 2014 previously announced. However, operating profit before special items is expected to be in the range of DKK 2,550 - 2,700 million against the previous outlook of DKK 2,500 - 2,700 million. A separate company announcement about the launch of a new share buyback programme of DKK 400 million will be issued today. Inquiries relating to the Interim Financial Report may be addressed to: Jens BjØrn Andersen, CEO, tel. +45 43 20 30 40 Jens H. Lund, CFO, tel. +45 43 20 30 40 Flemming Ole Nielsen, Director Investor Relations, tel. +45 43 20 33 92 or by email to This announcement is available on the Internet at The announcement has been prepared in Danish and in English. In the event of discrepancies, the Danish version shall apply. Yours sincerely, DSV A/S Copyright © 2014 OMX AB (publ).

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Source: OMX

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