Slide 1: Q1 2015 Investor Presentation
Q1 2015 Investor Presentation Analyst conference call – 30 April 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 significantly from the expectations outlined in t
Slide 3: Agenda
Agenda 1 Highlights Q1 2015 2 Business segments 3 Financial review 4 Q&A 3 | Q1 2015 Interim Financial Report – 30 April 2015
Slide 4: Highlights Q1 2015
Highlights Q1 2015 • 4.8% organic growth in gross profit driven by solid above Gross profit (DKKm) 2,682 market growth in transport volumes 4.8% 3.7% • 8.5% organic growth in EBIT 2,465 • The Air & Sea Division delivered another strong quarter Q1 2014 FX Organic Q1 2015 • The Road Division moved for
Slide 5: Business segments Q1 2015 – Air & Sea
Business segments Q1 2015 – Air & Sea Q1 Q1 Growth (DKKm) 2015 2014 Var. FX Highlights Net revenue 5,421 5,024 7.9% 6.8% • Air freight volume growth of 8% Gross profit 1,226 1,054 16.3% 8.4% EBIT* 388 310 25.2% 12.5% • Sea freight volume growth of 4% Profit margin 7.2% 6.2% Conversion ratio 31.6% 29
Slide 6: Business segments Q1 2015 – Road
Business segments Q1 2015 – Road Highlights Q1 Q1 Growth (DKKm) • 5% growth in consignments 2015 2014 Var. FX Net revenue 6,122 6,024 1.6% -0.8% • Gross margin recovered well due to a Gross profit 1,132 1,079 4.9% 0.0% EBIT* 220 199 10.6% 2.0% more favourable business environment Gross margin 18.5%
Slide 7: Business segments Q1 2015 – Solutions
Business segments Q1 2015 – Solutions Highlights Q1 Q1 Growth (DKKm) • 5% growth in order lines 2015 2014 Var. FX Net revenue 1,440 1,345 7.1% -0.3% • Growth from new customers Gross profit 330 330 0.0% 0.9% EBIT* 36 46 -21.7% 4.3% • Planned discontinuation of a large Gross margin 22.9% 24.5% custom
Slide 8: Financial review Q1 2015 – P&L
Financial review Q1 2015 – P&L (DKKm) Q1 2015 Q1 2014 Growth Var. FX • Tailwind from currency translation and Gross profit 2,682 2,465 8.8% 3.7% strong underlying growth rates Other external expenses 543 512 6.1% 3.0% Staff costs, white-collar 1,370 1,277 7.3% 2.4% • Improved productivity reflected
Slide 9: Financial review Q1 2015 – cash flow and debt
Financial review Q1 2015 – cash flow and debt (DKKm) Q1 2015 Q1 2014 • Cash flow from operating activities positively affected by the improved results EBITDA 769 676 • However, higher NWC along with the Change in net working capital -120 -24 settlement of provisions impacted negatively Change in pro
Slide 10: Share buyback and dividend
Share buyback and dividend • New share buyback programme of DKK 500 million according to safe harbour method launched 30 April 2015 and running until 23 July 2015 • 1.2 million shares bought back in Q1 2015 at an average price of DKK 206.6 per share • The purpose of the share buyback is to meet the
Slide 11: Upcoming events
Upcoming events 4 August 2015 Interim Financial Report, H1 2015 2 September 2015 Capital Markets Day at DSV HQ in Hedehusene, Denmark 28 October 2015 Interim Financial Report, Third Quarter 2015 11 | Q1 2015 Interim Financial Report – 30 April 2015
Slide 12: Teleconference dial-in 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 To ask questions press “0” and then “1” 12 | Q1 2015 Interim Financial Report – 30 April 2015
Slide 13: Slide 13
Slide 14: Appendix
Appendix 14 | Q1 2015 Interim Financial Report – 30 April 2015
Slide 15: Outlook for 2015
Outlook for 2015 2014 actual 2015 outlook Growth % Gross profit 10,297 10,500-10,900 1-6% EBIT before special items 2,624 2,700-2,900 3-11% Net financial expenses 306 300 Effective tax rate 26% 25% Adjusted free cash flow excl. M&A 1,472 2,000 The financial outlook for 2015 is based on the following
Slide 16: Regional development Q1 2015 (DKKm)
Regional development Q1 2015 (DKKm) Gross profit* EBIT before special items* +9% 2,682 641 17% 2,465 597 133 23% 546 21% -3% Nordic countries 618 -11% 25% 149 60 27% 9% 463 17% +5% 11% Southern Europe** 442 18% 54 10% 213 33% +22% 1,050 175 39% 32% Other Europe + EMEA 984 +7% 40% 144 23% 89 +62% 304
Slide 17: 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 16.0% 16.0% 12.0% 12.0% 8.0% 8.0% 4.0% 4.0% 0.0% 0.0% -4.0% -4.0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2013 2014 2015 2013 2014 2015 Road Solutions DSV Market (Europe) DSV Ma
Slide 18: DSV Air & Sea exposure
DSV Air & Sea exposure – volume full-year 2014 Air freight by export region Sea freight by trade lane 18% 26% Asia-Europe (WB) 17% Europe-Asia (EB) EMEA 28% 24% 39% Trans Atlantic (WB) 43% Asia-Pacific Market* 51% Market** Trans Pacific (EB) Americas 11% 8% Intra Europe 41% 6% 6% 24% Other 31% 7% 10
Slide 19: 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 Revenue 10,981 11,406 11,466 11,857 45,710 11,602 12,162 12,279 12,539 48,582 12,601 Direct costs 8,577 8,853 8,944 9,331 35,705 9,137 9,554 9,670 9,924 38,285 9,919 Gross p
Slide 20: 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 Revenue 4,726 5,000 5,171 5,298 20,195 5,024 5,485 5,672 5,820 22,001 5,421 Direct costs 3,732 3,910 4,074 4,181 15,897 3,970 4,335 4,487 4,633 17,425 4,195 Gross profit 994
Slide 21: 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 Revenue 1,344 1,372 1,374 1,380 5,470 1,345 1,400 1,441 1,543 5,729 1,440 Direct costs 996 1,012 1,018 1,035 4,061 1,015 1,054 1,091 1,173 4,333 1,110 Gross profit 348 360 3
Slide 22: 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’. 4 Aug 2015 Interim Financial Report, H1 Quarter 2015 For further company information, please visit DSV’s website at: www.dsv.com 2 Sep 2015 Capital