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Half-yearly accounts: DSV doubles result

Half-yearly accounts: DSV doubles result

02-08-2017 10:00:00


The Danish transport and logistics giant DSV has benefited from the second quarter, with significant growth in both earnings and cash flows. Based on a strong first half-year, DSV upgrades its expectations for the whole of 2017 and launches a new share buyback program of DKK 1 billion.

"With growth in earnings and cash flow of over 50%, we are very pleased with the Group's results for the first half of 2017. Only 18 months after the acquisition of UTi Worldwide, productivity is already at an all-time high and we have achieved the best results in the history of the Group. Based on a solid first half-year, we are upgrading the expectations for the whole of 2017 and launch a new share buyback program of DKK 1 billion," says CEO Jens Bjørn Andersen in the interim report.

Operating profit before special items ended at DKK 2.37 billion for the first half of the year compared to the same period last year of DKK 1.54 billion. DSV now increases the expectations for the full-year profit by DKK 200 million, to be in the range of DKK 4.5-4.7 billion.

The free cash flows are also expected to increase from DKK 3.5 billion a year to DKK 3.75 billion.
In the first half of this year, the regulated free cash flows were calculated to be at DKK 2.0 billion compared to DKK 0.76 billion in the same period last year.

Revenue in the company grew by DKK 4.2 billion to DK 37.1 billion based on the acquisition of UTi Worldwide.

Source: DSV / Maritime Denmark


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