DSV Annual Report 2022

83 DSV Annual Report 2022 Consolidated financial statements 2022 Definition of key figures and ratios Key figures Net interest- bearing debt Net working capital Invested capital Adjusted earnings Net financial expenses Special items Adjusted free cash flow = Interest-bearing debt less interest-bearing assets and cash and cash equivalents Receivables and other current operating assets less trade payables and other payables and other current operating liabilities = NWC + property, plant and equipment, ROU assets, intangible assets including goodwill and customer rela- tionships less long-term provisions = The DSV A/S shareholders' share of profit for the re- porting period adjusted for amortisation and impairment of goodwill and customer relationships, costs related to share-based payments and special items. The tax effect of the adjustments has been taken into account Financial income less financial expenses Exceptional items of income or expense which by nature are not related to the Group's ordinary operation or investments in future activities. See note 2.7 for addi- tional details on items included Free cash flow adjusted for net acquisition of subsidiar- ies and activities, lease liability repayments, special items and normalisation of working capital in subsidiar- ies and activities acquired Key figures and ratios are disclosed in accordance with 'Recommendations & Ratios' published by the Danish Finance Society, except for financial ratios marked with (*), as these are either derived or not included in the Recommendations. Earnings per share and diluted earnings per share are disclosed in accordance with IAS 33. Environmental, social and govern- mental key figures and ratios are defined in the DSV Sustainability Report 2022 to which reference is made. = III Financial ratios Share ratios Gross margin Gross profit * 100 Revenue Earnings per share Profit attributable to the shareholders of DSV A/S Average number of shares Operating margin Operating profit (EBIT) before special items * 100 Revenue Diluted earnings per share Profit attributable to the shareholders of DSV A/S Average number of shares diluted Conversion ratio Effective tax rate* Return on invested capital before tax Return on equity Solvency ratio Gearing ratio* Operating profit (EBIT) before special items * 100 Gross profit Tax on profit for the year * 100 Profit before tax Operating profit (EBIT) before special items * 100 Average invested capital Profit attributable to the shareholders of DSV A/S * 100 Average equity excluding non-controlling interests Equity excluding non-controlling interests * 100 Total assets Net interest-bearing debt Operating profit before amortisation, depreciation (EBITDA) before special items Diluted adjusted earnings per share Number of shares Average number of shares Average number of shares diluted Adjusted earnings Average number of shares diluted Total number of shares outstanding excluding treasury shares at the reporting date Average number of shares outstanding during the reporting period Average number of shares outstanding during the reporting period including share options, but excluding out-of-the-money options measured relative to the average share price for the period

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