Slide 1: Q2 2015 Investor Presentation
Q2 2015 Investor Presentation Analyst conference call – 4 August 2015, 2.00 p.m. CET Presentation available at www.dsv.com
Slide 2: Forward-looking statements
Forward-looking statements This presentation contains forward-looking statements. Such statements are subject to risks and uncertainties as various factors, many of which are beyond DSV A/S’ control, may cause actual development and results to differ materially from the expectations contained in the
Slide 3: Agenda
Agenda 1 Highlights Q2 2015 2 Revised outlook for 2015 3 Business segments 4 Financial review 5 Q&A 3 | H1 2015 Interim Financial Report – 4 August 2015
Slide 4: Highlights Q2 2015
Highlights Q2 2015 • 5.6% organic growth in gross profit driven by solid above EBIT Q2 2015 (DKKm) market growth in transport volumes 809 6.6% • 6.6% organic growth in Q2-15 EBIT for the Group 701 8.7% • Air & Sea +11.3% • Road +4.9% Q2 2014 FX Organic Q2 2015 • Solutions +1.5% • EPS growth of 15.9%
Slide 5: Outlook for 2015
Outlook for 2015 – revised at the end of H1 2015 2014 actual 2015 outlook Growth % Gross profit 10,297 10,900-11,200 6-9% EBIT before special items 2,624 2,850-3,000 9-14% Net financial expenses 306 300 Effective tax rate 26% 25% Adjusted free cash flow excl. M&A 1,472 2,100 The financial outlook fo
Slide 6: Business segments Q2 2015 – Air & Sea
Business segments Q2 2015 – Air & Sea Highlights (DKKm) Q2 Q2 Growth H1 H1 Growth 2015 2014 Var. FX 2015 2014 Var. FX • Air freight volume growth of 10% in Q2-15 Net revenue Gross profit 5,703 1,352 5,485 4.0% 7.5% 1,150 17.6% 9.7% 11,124 2,578 10,509 5.9% 7.2% 2,204 17.0% 9.1% EBIT* 502 398 26.1% 1
Slide 7: Business segments Q2 2015 – Road
Business segments Q2 2015 – Road Highlights Q2 Q2 Growth H1 H1 Growth (DKKm) • 4% growth in consignments in Q2-15 2015 2014 Var. FX 2015 2014 Var. FX Net revenue 6,298 6,102 3.2% 0.2% 12,420 12,126 2.4% -0.3% • Positive trend in gross margin Gross profit 1,183 1,116 6.0% 0.9% 2,315 2,195 5.5% 0.4% E
Slide 8: Business segments Q2 2015 – Solutions
Business segments Q2 2015 – Solutions Highlights Q2 Q2 Growth H1 H1 Growth (DKKm) • 7% growth in order lines 2015 2014 Var. FX 2015 2014 Var. FX Net revenue 1,500 1,400 7.1% 1.0% 2,940 2,745 7.1% 0.4% • Growth from new and existing Gross profit 358 346 3.5% 0.8% 688 676 1.8% 0.9% EBIT* 68 67 1.5% 1.
Slide 9: Financial review Q2 and H1 2015 – P&L
Financial review Q2 and H1 2015 – P&L (DKKm) Q2 Q2 Growth H1 H1 Growth • Tailwind from currency translation 2015 2014 Var. FX 2015 2014 Var. FX Gross profit 2,887 2,608 10.7% 4.7% 5,569 5,073 9.8% 3.0% Other external costs 550 497 10.7% 4.0% 1,093 1,009 8.3% 3.4% • Improved productivity reflected in
Slide 10: Financial review H1 2015 – cash flow and debt
Financial review H1 2015 – cash flow and debt (DKKm) H1 H1 2015 2014 • Cash flow from operating activities positively affected by the improved EBITDA 1,708 1,508 results Change in net working capital 22 -165 • Net working capital in line with target Change in provisions -145 -60 (around 1% of full-y
Slide 11: Share buyback and dividend
Share buyback and dividend • New share buyback programme of DKK 600 million according to safe harbour method launched 13 August 2015 and running until 20 October 2015 • 2.0 million shares bought back in Q2 2015 at an average price of DKK 228.2 per share • The purpose of the share buyback is to meet
Slide 12: Upcoming events
Upcoming events 2 September 2015 Capital Markets Day at DSV HQ in Hedehusene, Denmark We invite financial analysts, institutional investors and financial media to a Capital Markets Day. The day is hosted by Jens Bjørn Andersen, CEO, and Jens H. Lund, CFO, along with key members of the management tea
Slide 13: To attend the teleconference, please dial one of the following phone numbers
To attend the teleconference, please dial one of the following phone numbers: Danish participants + 45 70 22 35 00 International participants +44 (0) 207 572 1187 US participants +1 646 722 4972 Passcode: 95591554# To ask questions press “0” and then “1” 13 | H1 2015 Interim Financial Report – 4 Aug
Slide 14: Slide 14
Slide 15: Appendix
Appendix 15 | H1 2015 Interim Financial Report – 4 August 2015
Slide 16: Regional development Q2 2015 (DKKm)
Regional development Q2 2015 (DKKm) Gross profit* EBIT before special items* +11% 2,887 809 +15% 2,608 144 609 701 18% 21% 0% Nordic countries 611 -12% 24% 164 96 23% 12% 502 17% +9% +7% Southern Europe** 468 87 18% 13% 274 34% 1,133 +16% 237 39% 34% Other Europe + EMEA 1,051 +8% 40% 126 15% +34% 94
Slide 17: Regional development H1 2015 (DKKm)
Regional development H1 2015 (DKKm) Gross profit* EBIT before special items* +10% 5,569 1,450 +16% 5,073 1,206 277 22% 1,247 19% -2% Nordic countries 1,229 -12% 24% 313 156 25% 11% 965 17% +11% +6% Southern Europe** 910 141 18% 11% 487 34% +18% 2,183 412 39% 33% Other Europe + EMEA 2,035 +7% 40% 217
Slide 18: Market share gains in a competitive market
Market share gains in a competitive market – DSV freight volumes versus market Air Sea DSV Market DSV Market 16% 16% 12% 12% 8% 8% 4% 4% 0% 0% -4% -4% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2013 2014 2015 2013 2014 2015 Road Solutions DSV Market (Europe) DSV Market (Europe) 8% 8
Slide 19: DSV Air & Sea exposure
DSV Air & Sea exposure – volume H1 2015 Air freight by export region Sea freight by trade lane 19% Asia-Europe (WB) 29% 17% 24% 35% Europe-Asia (EB) EMEA 28% Trans Atlantic (WB) 43% Asia-Pacific Market* Market** Trans Pacific (EB) Americas 11% 54% 8% Intra-Europe 40% 6% Other 27% 7% 23% 8% 11% 10% *
Slide 20: Quarterly P&L details
Quarterly P&L details DSV Group (DKKm) Q1 2013 Q2 2013 Q3 2013 Q4 2013 FY 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 FY 2014 Q1 2015 Q2 2015 Revenue 10,981 11,406 11,466 11,857 45,710 11,602 12,162 12,279 12,539 48,582 12,601 13,127 Direct costs 8,577 8,853 8,944 9,331 35,705 9,137 9,554 9,670 9,924 38,28
Slide 21: Quarterly P&L details
Quarterly P&L details Air & Sea (DKKm) Q1 2013 Q2 2013 Q3 2013 Q4 2013 FY 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 FY 2014 Q1 2015 Q2 2015 Revenue 4,726 5,000 5,171 5,298 20,195 5,024 5,485 5,672 5,820 22,001 5,421 5,703 Direct costs 3,732 3,910 4,074 4,181 15,897 3,970 4,335 4,487 4,633 17,425 4,195 4,
Slide 22: Quarterly P&L details
Quarterly P&L details Solutions (DKKm) Q1 2013 Q2 2013 Q3 2013 Q4 2013 FY 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 FY 2014 Q1 2015 Q2 2015 Revenue 1,344 1,372 1,374 1,380 5,470 1,345 1,400 1,441 1,543 5,729 1,440 1,500 Direct costs 996 1,012 1,018 1,035 4,061 1,015 1,054 1,091 1,173 4,333 1,110 1,142 Gr
Slide 23: Investor contact information
Investor contact information Share information Financial calendar 2015 DSV shares are listed on the stock exchange in Copenhagen under the symbol ‘DSV’. 2 Sep 2015 Capital Markets Day at DSV HQ in For further company information, please visit DSV’s Hedehusene, Denmark website at: www.dsv.com 28 Oct