Dsv A/s · OMXCOP:DSV
Dsv A/s — Merger or Acquisition (September 2024)
16 slides from Dsv A/s's merger presentation, September 2024
Slide 1: DSV x Schenker – creating a world-leading player
DSV x Schenker – creating a world-leading player DSV A/S Investor presentation
Slide 2: Forward-looking statements
Forward-looking statements This presentation contains forward-looking statements, including but not limited to guidance, expectations, strategies, objectives and statements regarding DSV A/S’ (“DSV”) views of future events or prospects with respect to DSV’s future financial and operating results, pe
Slide 3: Agenda
Agenda • Strategic rationale • Transaction overview • Schenker at a glance • Our new market position • Uniting two global networks • Expected timeline • Q&A
Slide 4: Strategic rationale
Strategic rationale Acquisition of Schenker An excellent strategic match Schenker will add EURbn 19.1 annual revenue* • Combining two strong companies to create a world-leading player in the industry. Attractive exposure to Air & Sea and Road business • Adding significant volumes to Air & Sea. • Est
Slide 5: Transaction overview
Transaction overview Acquisition of Schenker • At completion, DSV will acquire 100% of Schenker in an all-cash transaction. • Enterprise value: EURbn 14.3 (approx. DKKbn 107). Equity value: EURbn 11.3 (approx. DKKbn 84). Purchase price • Transaction multiples: EV/LTM revenue of 0.77x and EV/LTM EBIT
Slide 6: Schenker at a glance (2023)
Schenker at a glance (2023) Top 4 global logistics player Significant global freight volumes Road freight and contract logistics ~19.1 EURbn revenue Strong customer Industry competencies Global air freight A leading European with direct presence in relationships, especially and know-how forwarding s
Slide 7: Combining DSV and Schenker to create a world leading player
Combining DSV and Schenker to create a world leading player Third-party logistics providers by 2023 revenue in EUR billion Combined DSV + Schenker 39.3 1 DHL Logistics (DE) 36.3 2 Kuehne + Nagel (CH) 27.4 33 DSV (DK) 20.2 44 DB Schenker (DE) 19.1 5 C.H. Robinson (US) 16.3 6 Nippon Express (JP) 14.8
Slide 8: DSV and Schenker – an excellent strategic match across divisions
DSV and Schenker – an excellent strategic match across divisions Air Sea Road Logistics freight freight freight solutions Global leader Global leader European leader Global top 5 player Source: Transport Intelligence (by 2023 revenue) 8
Slide 9: Uniting two global networks – DSV and Schenker
Uniting two global networks – DSV and Schenker DSV Schenker 74,000 EMPLOYEES (FTE) 72,700 DKK 150.8 bn DKK 142.4 bn ANNUAL REVENUE EUR 20.2 bn EUR 19.1 bn 1,300,000 AIR FREIGHT (tonnes) 1,150,000 2,500,000 SEA FREIGHT (TEU) 1,800,000 DKK 38.2 bn DKK 58.4 bn ROAD FREIGHT (revenue) EUR 5.1 bn EUR 7.8
Slide 10: DSV and Schenker combined (based on 2023 revenue)
DSV and Schenker combined (based on 2023 revenue) DSV Schenker Combined (pro forma) 15% 14% 15% 26% 29% 33% Divisions 25% 33% 41% 19% Air Sea 23% 27% Road Contract Logistics 24% 20% 22% Geography 59% 16% 64% 16% 62% 17% EMEA AMERICAS APAC 10
Slide 11: DSV and Schenker (2023 pro forma combined)
DSV and Schenker (2023 pro forma combined) Revenue EBIT Employees ~293,000 ~26,100 ~147,000 DKKm DKKm FTE (8.9% EBIT margin) ~151,000 DKKm ~142,000 DKKm ~17,700 DKKm ~8,400 DKKm ~74,000 (FTE) ~73,000 (FTE) (11.8% EBIT margin) (5.9% EBIT margin) Note For illustrative purposes only. EUR / DKK = 7.456
Slide 12: Next steps
Next steps Expected timeline 13 September 2024 In the coming weeks Q2 2025 Announcement Approval by the Regulatory approvals Expected of agreement Supervisory Board of obtained and closing Deutsche Bahn & by the conditions fulfilled German Federal Ministry Integration for Digital and Transport begin
Slide 13: Key takeaways
Key takeaways Creating a world-leading Consolidation of Target of EPS accretion player in the industry operations, administration in year 2 after closing*. with a strong global and facilities, and leverage Aspiration to lift operating network and vertical of scalable systems and IT margins minimum t
Slide 14: To attend the teleconference, please dial one of the numbers below
To attend the teleconference, please dial one of the numbers below Danish participants +45 78 76 84 90 German participants +49 406 7529 380 US participants +1 646 787 0157 International participants +44 (0) 203 769 6819 PIN: 882686 To ask questions press “5* ”
Slide 15: Investor Relations
Investor Relations Share information Financial calendar 2024 Investor Relations contacts DSV A/S is listed on the Copenhagen stock 01 Feb. 2024 Annual Report 2023 DSV A/S exchange under the symbol ‘DSV’. Hovedgaden 630, 2640 Hedehusene, Denmark investor@dsv.com 14 Mar. 2024 Annual General Meeting 20
Slide 16: JDSV
JDSV Global Transport & Logistics