DSV Q3 2023 Financial Performance and NEOM Joint Venture Update
P&L details - Group
Group (DKKm)
Revenue
Direct costs
Gross profit
Other external expenses
Staff costs
FY 2018
FY 2019
FY 2020
FY 2021
Q1 2022
Q2 2022
Q3 2022
Q4 2022
FY 2022
Q1 2023
Q2 2023
Q3 2023
YTD 2023
79,053
94,701
115,932
182,306
61,125
62,749
60,560
51,231
235,665
40,954
37,727
35,576
114,257
61,564
70,947
87,398
144,691
48,248
48,671
47,022
39,575
183,516
29,563
26,396
24,927
80,886
17,489
23,754
28,534
37,615
12,877
14,078
13,538
11,656
52,149
11,391
11,331
10,649
33,371
3,036
3,133
3,291
4,173
1,289
1,338
1,431
1,501
5,559
1,340
1,235
1,113
3,688
8,241
10,329
11,684
13,025
3,912
4,039
4,333
4,031
16,315
4,110
4,074
3,812
11,996
6,212
10,292
13,559
20,417
7,676
8,701
7,774
6,124
30,275
5,941
6,022
5,724
17,687
EBITDA before special items
Depreciation of right-of-use assets
2,734
2,990
3,144
892
912
942
1,037
3,783
962
988
1,007
2,957
Amortisation and depreciation of owned assets
762
904
1,049
1,050
288
336
326
338
1,288
307
329
321
957
EBIT before special items
5,450
6,654
9,520
16,223
6,496
7,453
6,506
4,749
25,204
4,672
4,705
4,396
13,773
Special Items, net costs
Financial income
Financial expenses - lease liabilities
Financial expenses
Profit before tax
800
2,164
478
404
257
456
1,117
131
254
206
67
76
83
380
606
90
169
25
284
383
434
495
162
175
181
209
727
195
205
223
623
249
606
1,549
552
234
417
8
86
745
241
136
431
808
5,201
4,996
5,627
14,904
5,763
6,680
5,944
4,834
23,221
4,326
4,533
3,767
12,626
223
Tax on profit for the period
1,213
1,290
1,369
3,650
1,377
1,610
1,518
1,045
5,550
1,039
1,158
959
3,156
Profit for the period
3,988
3,706
4,258
11,254
4,386
5,070
4,426
3,789
17,671
3,287
3,375
2,808
9,470
Gross margin, %
Operating margin, %
Conversion ratio, %
Tax percentage
Blue-collar costs (included in direct costs)
22.1
25.1
24.6
20.6
21.1
22.4
22.4
22.8
22.1
27.8
30.0
29.9
29.2
6.9
7.0
8.2
8.9
10.6
11.9
10.7
9.3
10.7
11.4
12.5
12.4
12.1
31.2
28.0
33.4
43.1
50.4
52.9
48.1
40.7
48.3
41.0
41.5
41.3
41.3
23.3
25.8
24.3
24.5
23.9
24.1
25.5
21.6
23.9
24.0
25.5
25.5
25.0
4,791
5,299
5,274
6,280
1,802
1,882
1,942
2,021
7,647
1,886
1,892
1,890
5,668
Number of full-time employees (end of period)
47,394
61,216
56,621
77,958
77,358
76,071
76,715
76,283
76,283
74,613
74,178
75,188
75,188
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