Slide 1: Presentation of DSV's acquisition of ABX Logistics
Presentation of DSV’s acquisition of ABX Logistics Investors’ Meeting – 23 June 2008 Kurt K. Larsen, CEO Jens Lund, CFO
Slide 2: Kurt K. Larsen, CEO and Jens Lund, CFO
Presentation of DSV’s acquisition of ABX Logistics Kurt K. Larsen Jens Lund CEO CFO 2 | Investors’ Meeting, 23/06/2008
Slide 3: Conference call dial-in details
Presentation of DSV’s acquisition of ABX Logistics Danish Participants will call: +45 327 147 67 International Dial Participants will call: +44 (0) 208 817 9301 or +1 718 354 1226 3 | Investors’ Meeting, 23/06/2008
Slide 4: 1. The transaction
1. The transaction • DSV acquires all of the shares of XB Luxembourg Holdings 1 S.A., the parent of the ABX LOGISTICS Worldwide SA/NV Group ("ABX") of Belgium • The transaction is conditioned of approval by the relevant competition authorities • Final closing is expected to be in Q3 2008 • The aggre
Slide 5: 1. The transaction - continued
1. The transaction - continued • Post merger company (Pro forma 2007 figures) DSV ABX Combined Revenue, EUR million 4,700 1,826 6,526 Revenue, DKK million 34,900 13,600 48,500 EBITA, EUR million 253 32 285 EBITA, DKK million 1,882 238 2,120 Volumes in Air, tons 115,000 100,000 215,000 Volumes in Sea
Slide 6: 2. Reasons for the transaction
2. Reasons for the transaction • DSV has been seeking acquisitions to double the Air & Sea division in order to obtain critical mass in key markets and meet the increasing demand for total global transport solutions. • For a number of years, ABX has been at the top of the list of potential combinati
Slide 7: 2. Reasons for the transaction - continued
2. Reasons for the transaction - continued • The geographical coverage of ABX is mainly in Italy, Spain, France and Germany in Europe. Furthermore ABX is present with own companies in Asia, North America, South America & Africa • The acquisition will strengthen DSV Road’s activities mainly in Italy,
Slide 8: 3. ABX in figures 2007
3. ABX in figures 2007 Revenue and operating profit before special items (EBITA) by markets (EUR Million) Revenue Revenue in % of Operating profit before total special items (EBITA) Italy 750 36% 32 Germany 337 16% -7 Spain 188 9% 2 France 184 9% -1 UK 67 3% 1 Belgium 47 2% -1 Other Europe 1) 140 7%
Slide 9: 3. ABX in figures 2007 - continued
3. ABX in figures 2007 - continued Revenue by divisions and markets (EUR Million) Air & Sea Road Solutions Total Italy 473 140 137 750 Germany 214 117 6 337 Spain 81 100 7 188 France 78 106 0 184 UK 22 34 11 67 Belgium 23 19 5 47 Other Europe 1) 66 64 10 140 USA 114 0 0 114 Other Americas 2) 62 0 0
Slide 10: 4. Expected synergies
4. Expected synergies • The synergies are expected to be implemented before the end of 2011 • Expected synergies with the merger: a. Improving EBITA margin in the ABX part of the Group. The margins of ABX are expected to be on a level with the margins realised by the various divisions of the DSV Gro
Slide 11: 5. Integration
5. Integration • ABX companies will at first be placed in the Air & Sea division of DSV • ABX currently operates with a “one company per country” strategy, where DSV operates with a “one company per division per country strategy” • The Road and Solution activity will be carved out from the Air & Sea
Slide 12: 6. Detailed information
6. Detailed information • Further information about synergies, growth, Net Working Capital, investments, tax rates and restructuring costs will be published when the transaction has been approved by relevant competition authorities, and a final closing is made • At the same time DSV will adjust its
Slide 13: www.dsv.com
~) Sa www.dsv.com