HALF-YEAR 2021 RESULTS
DSV Panalpina A/S
Investor presentation
Released 29 July 2021
Forward-looking statements
This presentation contains forward-looking statements that reflect DSV Panalpina A/S's ("DSV") current expectations and views of future events. Some of these forward- looking statements can be identified by terms and phrases such as "estimate," "expect," "target," "plan," "project," "will" and similar expressions. These forward-looking statements include statements relating to: the expected characteristics of the combined company; expected financial results and characteristics of the combined company; expected timing of the launch and closing of the proposed transaction and satisfaction of conditions precedent, including regulatory conditions; and the expected benefits of the proposed transaction, including related synergies. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from such statements. These forward-looking statements are based on our beliefs, assumptions and expectations of future performance, taking into account the information currently available to us. These statements are only predictions based upon our current expectations and projections about future events. Risks and uncertainties include: the ability of DSV to integrate Agility's Global Integrated Logistics business ("GIL") into DSV's operations; the performance of the global economy; the capacity for growth in internet and technology usage; the consolidation and convergence of the industry, its suppliers and its customers; the effect of changes in governmental regulations; disruption from the proposed transaction making it more difficult to maintain relationships with customers, employees or suppliers; and the impact on the combined company (after giving effect to the proposed transaction with Agility Public Warehousing Company
KSCP ("Agility") of any of the foregoing risks or forward-looking statements, as well as other risk factors listed from time to time in DSV's and Agility's public disclosures.
The forward-looking statements should be read in conjunction with the other cautionary statements that are included elsewhere, including the risk factors included in any public disclosures of DSV or Agility. Any forward-looking statements made in this announcement are qualified in their entirety by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by us will be realised or, even if substantially realised, that they will have the expected consequences to, or effects on, us or our business or operations. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Content
1
4
Highlights
Outlook for 2021
2
5
Business segments
Timeline (GIL)
3
6
Financial review
Appendix
3 | DSV Panalpina - H1 2021 results
Highlights H1 2021
- Strong financial results driven by all three divisions.
- 2021 EBIT guidance upgraded to DKK 12,500 - 13,000 million (previously DKK 11,750 - 12,500 million).
- Regulatory approvals in relation to GIL are progressing according to the plan, closing still expected in Q3-21.
- New DKK 4,000 million share buyback programme initiated.
Gross profit (DKKm)
EBIT before special items (DKKm)
+15.1%* | |
8,333 | |
7,386 | |
Q2-20 | Q2-21 |
+18.0%* | |
16,118 | |
14,070 | |
H1-20 | H1-21 |
+40.4%* | |
3,571 | |
2,613 | |
Q2-20 | Q2-21 |
+64.7%* | |
6,638 | |
4,179 | |
H1-20 | H1-21 |
*) Growth rates are in constant currencies.
4 | DSV Panalpina - H1 2021 results
Air & Sea
(DKKm) | Q2 2021 | Q2 2020 | Growth* | H1 2021 | H1 2020 | Growth** |
Gross profit | 2,897 | 3,015 | (1.2)% | 5,659 | 5,168 | 13.9% |
Gross profit | 2,245 | 1,648 | 41.7% | 4,271 | 3,370 | 32.6% |
Total gross profit | 5,142 | 4,663 | 13.9% | 9,930 | 8,538 | 21.3% |
EBIT | 2,843 | 2,112 | 39.5% | 5,236 | 3,242 | 69.0% |
*) Growth rates are in constant currencies and including M&A impact.
Conversion ratio | Operating margin | |||||
55.3% | 11.0% | 11.1% | 11.0% | |||
50.0% | 10.4% | |||||
45.3% | 46.3% | 44.0% | 9.0% | |||
Q2-20 | Q3-20 | Q4-20 | Q1-21 | Q2-21 | Q2-20 | Q3-20 | Q4-20 | Q1-21 | Q2-21 |
Management commentary
- Double-digitvolume growth in Q2- 21 and strong results in extraordinary market conditions.
- Global supply chains continue to be impacted by imbalances and capacity issues - we work hard to find the right solutions for our customers.
- Conversion ratio at all-time high reflecting the skills of our teams and scalability of the systems.
- Development in gross profit from air freight in Q2-21 must be seen in light of the surge in demand for high yielding air freight goods in Q2-20.
5 | DSV Panalpina - H1 2021 results
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DSV Panalpina A/S published this content on 29 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2021 05:46:09 UTC.