DSV, 836 - INTERIM FINANCIAL REPORT H1 2020

Company Announcement No. 836Selected key figures and ratios for the period 1 January - 30 June 2020(DKKm)Q2 2020Q2 2019YTD 2020YTD 2019      Key figures and ratios     Revenue28,78220,07956,09140,058Gross profit7,3865,28514,07010,399Operating profit (EBIT) before special items2,6131,6314,1793,085Special items, costs515191,02619Profit after tax1,3901,1491,7212,112     ...

Hedehusene, 31/07/2020 (informazione.news - comunicati stampa - trasporti)

Company Announcement No. 836

Selected key figures and ratios for the period 1 January - 30 June 2020

Jens Bjørn Andersen, Group CEO: “ Recent months have developed better than we anticipated when the COVID-19 crisis started, and we are pleased to report 63% growth in EBIT before special items for Q2 2020 and 37% growth for the first half of the year. Strong cost management and the continued successful integration of Panalpina have been important drivers for our results. COVID-19 has created an extraordinary market situation in air freight, and here we have been able to help our customers and have benefitted from the legacy Panalpina freighter network . The uncertainty remains higher than normal, but based on a strong first half of 2020 we are now able to reinstate guidance for the full year. We now expect EBIT before special items on level with the guidance we gave to the market before this crisis started.”

Outlook for 2020

Based on the financial performance in the first half of 2020, guidance for full-year 2020 is reinstated as follows:

             
The guidance is based on assumptions of a gradual improvement of the global freight markets over the third and fourth quarters as markets reopen and with no material disruptions of global supply chains. We expect that transport volumes will remain below last year, but the negative run rate will lessen. Furthermore, we expect that the integration of Panalpina and implementation of cost saving initiatives will continue as planned.

Due to the COVID-19 situation, it must be stressed that the basic assumptions behind the guidance are more uncertain than normal.

Contacts

Investor Relations
Flemming Ole Nielsen, tel. +45 43 20 33 92,   flemming.o.nielsen@dsv.com
Frederikke Anna Linde, tel. +45 43 20 31 95,  frederikke.a.linde@dsv.com
Mads Kristian Hofmeister, tel. +45 43 20 33 88, madskristian.hofmeister@dsv.com

Media

Maiken Riise Andersen, tel. +45 43 20 30 74,  maiken.r.andersen@dsv.com  

Yours sincerely,
DSV Panalpina A/S

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