Slide 1: Q3 2024 Results
Q3 2024 RESULTS DSV A/S Conference call 23 October 2024, 11:00 am CEST
Slide 2: Agenda
Agenda • Highlights • Business segments • Update on NEOM joint venture • Financial review • Timeline for Schenker transaction • Q&A Forward-looking statements This presentation contains forward-looking statements. Such statements are subject to risks and uncertainties, as various factors, many of wh
Slide 3: Highlights Q3 2024
Highlights Q3 2024 • Acquisition of Schenker announced and approved by seller, and successful equity raise of DKK 37.3 billion (approx. EUR 5 billion). • Solid Q3 2024 results with continued rebound in earnings driven by higher volumes and market share gains across all divisions. • Gross profit up 4
Slide 4: Air & Sea
Air & Sea Management commentary (DKKm) Q3 2024 Q3 2023 Growth* 9M 2024 9M 2023 Growth* • Strong volume growth and market Gross profit Air 3,012 3,089 (1.5%) 8,860 10,390 (13.6%) share gains for both Air and Sea in Q3 2024, supported by commercial Gross profit Sea 3,446 3,121 11.8% 9,433 9,601 (0.3%)
Slide 5: Air freight Q3 2024
Air freight Q3 2024 • Continued volume and market share growth in our addressable market in Q3 2024 (i.e. excluding e-commerce and perishables). • Stabilisation in absolute gross profit compared to last year with higher volumes compensating for lower gross profit yields. • Continued strength in APAC
Slide 6: Sea freight Q3 2024
Sea freight Q3 2024 • Strong year-over-year increase in gross profit driven by volume growth above the market and improved gross profit yields. • Some impact on yields from the Red Sea situation in Q3 2024 – no further material impact expected for the remainder of the year. • The usual seasonality w
Slide 7: Road
Road Management commentary (DKKm) Q3 2024 Q3 2023 Growth* 9M 2024 9M 2023 Growth* • Stable gross profit and EBIT development in challenging and Revenue 9,967 9,036 9.8% 30,953 28,780 7.3% volatile markets, especially in Europe. Gross profit 1,934 1,924 0.2% 5,959 5,923 0.3% • Revenue growth driven b
Slide 8: Solutions
Solutions Management commentary (DKKm) Q3 2024 Q3 2023 Growth* 9M 2024 9M 2023 Growth* • Improved gross profit and EBIT in Q3 2024 compared to last year. Revenue 6,619 5,538 20.3% 19,524 17,061 14.9% • Growth driven by continued Gross profit 2,587 2,381 9.3% 7,564 7,039 7.7% expansion of capacity as
Slide 9: Update on the joint venture with NEOM
Update on the joint venture with NEOM Sourcing to NEOM from across the world • The exclusive logistics joint venture to provide transport and logistics services for the projects in NEOM has obtained the final regulatory approvals and the incorporation process has begun. • A modest ramp-up of the joi
Slide 10: P&L Q3 and 9M 2024
P&L Q3 and 9M 2024 Management commentary (DKKm) Q3 2024 Q3 2023 Growth* 9M 2024 9M 2023 Growth* Headlines • The financial performance continued to improve in Q3 2024 compared to Revenue 44,095 35,576 25.2% 123,592 114,257 9.2% same period last year and to the first Gross profit 11,080 10,649 4.8% 32
Slide 11: Cash flow and financial ratios 9M 2024
Cash flow and financial ratios 9M 2024 (DKKm) 9M 2024 9M 2023 Variance Management commentary EBITDA before special items 16,391 17,687 (1,296) Cash flow Change in working capital (3,324) 2,208 (5,532) Tax, interest, change in provisions, etc. (4,169) (5,133) 964 • Adjusted free cash flow of DKK Spec
Slide 12: Allocations to shareholders
Allocations to shareholders Management commentary • A capital increase of DKK 37.3 billion Share buyback (EUR 5 billion), corresponding to 26.4 Dividend million new shares, was completed on 4 October 2024. • After the increase, the share capital consists of 240,444,523 shares. 20,313 • With the anno
Slide 13: Outlook for 2024
Outlook for 2024 (DKKm) Updated outlook* Previous outlook Actual 2023 EBIT before special items 16,000-17,000 15,500-17,000 17,723 Effective tax rate 24.0% 24.0% 24.8% Special items 650 650 - *) EBIT guidance range for full-year 2024 was narrowed on 3 October 2024 (ref. announcement 1135) Main assum
Slide 14: Next steps of Schenker acquisition
Next steps of Schenker acquisition Expected timeline 13 September 2024 October 2024 Q2 2025 Announcement of Approval by the Supervisory Bond issuance to All regulatory Expected closing of agreement to Board of Deutsche Bahn & by refinance bridge approvals obtained, transaction acquire Schenker the G
Slide 15: Key takeaways
Key takeaways A positive quarter with the announced Schenker acquisition progressing well Returning to year- Strong free cash flow Full-year 2024 EBIT over-year growth in generation with guidance of DKK earnings driven by sequential improvement 16.0 - 17.0 billion higher volumes and in net working c
Slide 16: 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 International participants +44 (0) 203 769 6819 US participants +1 646 787 0157 PIN: 882686 To ask questions press “5* ”
Slide 17: P&L details - Group
P&L details - Group Group (DKKm) FY 2019 FY 2020 FY 2021 FY 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 FY 2023 Q1 2024 Q2 2024 Q3 2024 YTD 2024 Revenue 94,701 115,932 182,306 235,665 40,954 37,727 35,576 36,528 150,785 38,340 41,157 44,095 123,592 Direct costs 70,947 87,398 144,691 183,516 29,563 26,396 2
Slide 18: P&L details – Air & Sea
P&L details – Air & Sea Air & Sea (DKKm) FY 2019 FY 2020 FY 2021 FY 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 FY 2023 Q1 2024 Q2 2024 Q3 2024 YTD 2024 Divisional revenue 51,151 73,689 131,901 174,431 26,213 22,993 21,912 21,854 92,972 22,716 24,616 28,416 75,748 Direct costs 38,634 56,780 108,132 139,807
Slide 19: P&L details – Road and Solutions
P&L details – Road and Solutions Road (DKKm) FY 2019 FY 2020 FY 2021 FY 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 FY 2023 Q1 2024 Q2 2024 Q3 2024 YTD 2024 Divisional revenue 31,621 30,395 35,416 41,507 10,094 9,650 9,036 9,375 38,155 10,425 10,561 9,967 30,953 Direct costs 25,465 24,257 28,321 33,596 8,1
Slide 20: Balance sheet
Balance sheet (DKKm) Assets 30.09.2024 30.09.2023 Variance 31.12.2023 Equity and liabilities 30.09.2024 30.09.2023 Variance 31.12.2023 Intangibles assets 76,455 78,106 (1,651) 77,106 DSV shareholders’ share of equity 71,940 70,179 1,761 68,703 Right-of-use assets 18,117 15,862 2,255 15,655 Non-contr
Slide 21: Investor Relations
Investor Relations Share information Financial calendar 2025 Investor Relations contacts DSV A/S is listed on the Copenhagen stock 04 Feb. 2025 Annual Report 2024 DSV A/S exchange under the symbol ‘DSV’. Hovedgaden 630, 2640 Hedehusene, Denmark investor@dsv.com 20 Mar. 2025 Annual General Meeting 20