Company Announcement No. 1141
Solid earnings in Q3 2024 driven by continued volume growth and higher gross profit
The DSV Group achieved solid results in Q3 2024 with continuing improvement in earnings driven by positive volume growth across all divisions.Quarterly gross profit improved by 4.8% and EBIT before special items was 1.5% higher compared to the same period last year leading to sequential growth in diluted adjusted EPS of 2.1%.Adjusted free cash flow generation in Q3 2024 improved to DKK 2,524 million.Full-year 2024 guidance for EBIT before special items of DKK 16,000-17,000 million.
Jens H. Lund, Group CEO: “The third quarter of 2024 has been a landmark for our company with the agreement to acquire Schenker creating a world leader within transport and logistics and, following the announcement, we have successfully raised EUR 5 billion in equity from a broad range of long-term investors. We look forward to welcoming our colleagues from Schenker and together build a world-class transport and logistics company with a unique global network and service offerings to our customers. Our financial results in Q3 2024 show continued positive earnings growth. Our quarterly gross profit and EBIT before special items have increased on a year-over-year basis for the first time since Q3 2022, driven by positive volume growth across all divisions and higher gross profit.”
Selected key figures and ratios for the period 1 January – 30 September 2024
Q3 2024Q3 2023YTD 2024YTD 2023Key figures (DKKm) Revenue44,09535,576123,592114,257Gross profit11,08010,64932,18633,371Operating profit (EBIT) before special items4,4204,39612,16013,773Special items, costs124-124-Profit for the period2,8452,8087,9509,470Adjusted earnings for the period3,0012,8648,2549,652Adjusted free cash flow2,5242,6664,19610,803 Ratios Conversion ratio39.9%41.3%37.8%41.3%Diluted adjusted earnings per share of DKK 1 for the last 12 months 53.863.1
Performance in Q3 2024
While the market in Q3 2024 was still impacted by uncertainty regarding the macroeconomic outlook and escalations around the situation in the Middle East and Red Sea, DSV
