DSV Q3 2023 Financial Performance and NEOM Joint Venture Update
Road
(DKKm)
Q3 2023
Q3 2022
Growth*
9M 2023
9M 2022
Growth*
Revenue
9,036
10,406
(10.9%)
28,780
31,429
(6.6%)
•
Gross profit
1,924
1,989
(1.1%)
5,923
6,001
0.6%
EBIT
Gross margin
522
525
1.4%
1,542
Conversion ratio
1,589
(1.4%)
•
*) Growth rates are in constant currencies.
Management commentary
The division performed well in a market
with declining activity and declining
rates.
Strong gross margin, supported by
growth in the European groupage
network.
Focus on cost management and
productivity led to improved conversion
ratio.
Road Way Forward programme:
Development with current vendor for
certain elements of the TMS system is
put on hold and we will find alternatives.
The programme continues and
objectives are the same, but the change
will cause a delay.
.
Operating margin
21.0% 21.3%
19.1% 19.0%
19.6%
26.4%
27.1%
5.8%
26.0%
5.4%
25.1%
5.0%
4.9%
23.6%
4.5%
Q3-22 Q4-22 Q1-23 Q2-23 Q3-23
Q3-22
Q4-22 Q1-23 Q2-23 Q3-23
Q3-22 Q4-22 Q1-23 Q2-23 Q3-23
7View entire presentation