DSV. Investor presentation 2008
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1 DSV Investor presentation 2008
2 Legal structure - (budget 2008 figures) Revenue: DKKm 34,580 Operating profit: DKKm 1,796 Number of employees: 19,211 Revenue: DKKm 20,326 Revenue: DKKm 10,315 Revenue: DKKm 5,034 Number of employees: 11,474 Number of employees: 2,925 Number of employees: 4,812 2 Investor Presentation, 03/04/2008
3 World of DSV Algeria, Australia, Austria, Bangladesh, Belarus, Belgium, Bulgaria, Canada, China, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hong Kong, Hungary, India, Indonesia, Ireland, Italy, Korea, Latvia, Lithuania, Luxembourg, Malaysia, Morocco, Netherlands, New Zealand, Norway, Pakistan, Philippines, Poland, Portugal, Romania, Russia, Serbia & Montenegro, Singapore, Slovakia, Slovenia, Spain, Sweden, Switzerland, Taiwan, Thailand, Tunisia, Turkey, Ukraine, United Arab Emirates, United Kingdom, USA, Vietnam 3 Investor Presentation, 03/04/2008
4 Our History 1976 DSV is established 1987 DSV is listed on the Copenhagen Stock Exchange 1997 DSV acquires Samson Transport and triples the size of its Road Division 2000 DSV acquires DFDS Dan Transport Group for DKK 5,500 million *) from DFDS, continuing under the name DFDS Transport, which is merged with DSV Samson Transport and quadruples the size of the Road and Air & Sea Divisions 2001 DSV sells DPD parcel (Nordic operation) to Svenska Posten for DKK 1,000 million *) 2004 DSV divests DSV Environment to Triton for DKK 1,150 million *) DSV acquires several Road operations in Germany in pursuit of German/European strategy 2005 DSV acquires J.H. Bachmann GmbH in pursuit of German/European/Global Air & Sea strategy DSV acquires several Road operations in Germany in pursuit of German/European strategy 2006 DSV acquires all shares in Koninklijke Frans Maas Groep N.V. in pursuit of European strategy (DKK 3,300 million *), revenue DKK 8,100 million) 2008 DSV sells the 50% stake in Tollpost Globe AS to Posten AB for DKK 993 million *Enterprise Value 4 Investor Presentation, 03/04/2008
5 Key Figures - DSV P&L DKKm Budget Revenue EBITDA EBITA Pre tax profit* Net profit* EPS* 2,3 3,4 4,5 5,8 6,1 Margins: EBITDA margin 5,9% 5,8% 5,7% 6,1% 6,3% EBITA margin 4,7% 4,9% 4,7% 5,4% 5,2% Adj. net profit margin 2,9% 3,1% 2,9% 3,3% 3,4% Balance sheet DKKm Total assets Equity Net interest bearing debt Solvency 38,7% 30,7% 23,0% 21,2% * fully dilluted and adjusted for goodwill, customer contracts amortisation and one-off items 5 Investor Presentation, 03/04/2008
6 results DKKm Actual Budget** Actual Revenue EBITDA EBITA Pre tax profit* Net profit* EPS* 4,5 5,8 Margins EBITDA margin 5,7% 6,1% EBITA margin 4,7% 5,3% 5,4% Adj. net profit margin 2,9% 3,3% * fully dilluted and adjusted for goodwill and customer contracts amortisation, and one-off items **Adjusted budget, announced 31 October 2007 Headlines 2007 results compared with 2006 Organic turnover growth 3.4% adjusted for fx Organic EBITA growth 26.5% adjusted for fx EPS growth 27.4% EBITA DKKm 378 above 2006 Headlines 2007 results compared with adjusted budget Turnover 1.1% below budget EBITA growth 0.4% EBITA DKKm 7 above budget 6 Investor Presentation, 03/04/2008
7 Share price development DKK 5Y DKK 1Y OMX C20 rel. to DSV DSV OMX C20 rel. to DSV DSV Source: Copenhagen Stock Exchange 7 Investor Presentation, 03/04/2008
8 Road Division 8 Investor Presentation, 03/04/2008
9 Road Division Characteristics Strong market position in Europe Control over own network Strong culture and loyal management High profitability Opportunities Organic growth Acquisitions in Germany, France and Italy when Frans Maas is integrated Acquisitions in Europe Challenges Profitability in Germany, Netherlands, Spain and France Own operation Agents 9 Investor Presentation, 03/04/2008
10 Road Transport 11,474 Employees Full and Part loads door-to-door European and domestic distribution Internet Booking Facilities Track and Trace, POD Customs clearance More than 350 own locations Top 3 in Europe More than 15,000 trucks on the road daily 10 Investor Presentation, 03/04/2008
11 Road Division 1 ) 2007 Turnover (full year) 2006 (actual): 2007 (adjusted budget): 2007 (actual): 2008 (budget): DKK 24.3 billion DKK 23.2 billion DKK 22.8 billion DKK 20.3 billion actual actual Spain & Portugal Poland Italy Ireland Central Europe South East Europe Denmark South East Europe Spain Ireland Poland Central Europe Italy Czech Republic Portugal Denmark Baltics, Russia & Ukraine Belgium Holland Belgium France Finland Sweden Baltics, Russia & Ukraine Finland Sweden Holland France UK Norway Germany UK Germany Norway 11 Investor Presentation, 03/04/2008
12 Road Division 1 ) 2007 EBITA (full year) 2006 (actual): DKK 885 million *) 2007 (adjusted budget): 2007 (actual): 2008 (budget): DKK 996 million DKK 998 million DKK 910 million *)including gain of 45 million from disposal of property and impairment of 23 million on IT outsourcing contract, net 22 million actual actual South East Europe Poland Finland Ireland Baltics, Russia & Ukraine South East Europe Denmark South East Europe Czech Republic Ireland Finland Belgium Poland Italy Holland Czech Republic Portugal UK Baltics, Russia & Ukraine Denmark Belgium UK Holland Norway Sweden Sweden Norway 12 Investor Presentation, 03/04/2008
13 Air & Sea Division 13 Investor Presentation, 03/04/2008
14 Air & Sea Division Characteristics One of the best earning freight forwarders High growth area Strong culture and loyal management Strong market position Opportunities Growth both organic and acquisitive in particular in central Europe Challenges Become a top ten player in the Air & Sea industry Become truly Global Own operation Agents 14 Investor Presentation, 03/04/2008
15 Air & Sea Transport 2,925 Employees Internet Booking System Track and Trace, POD Consolidated Air Freight Import / Export FCL / LCL 500,000 TEU 1.6 mill. shipments 115,000 tonnes export airfreight More than 350 Locations in more than 103 Countries (Supplemented by partners and agents) 15 Investor Presentation, 03/04/2008
16 Air & Sea Division 2007 Turnover (full year) 2006 (actual): 2007 (adjusted budget): 2007 (actual): 2008 (budget) DKK 7.8 billion DKK 8.9 billion DKK 9.1 billion DKK 10.3 billion actual actual South East Europe Norway Central Europe Australia Canada USA Central Europe Norway Australia & New Zealand Finland Canada USA Holland Hong Kong Hong Kong Sweden China Holland Other APAC Denmark Denmark China Sweden DK Project DK Project Germany Other APAC UK & Ireland UK Germany 16 Investor Presentation, 03/04/2008
17 Air & Sea Division 2007 EBITA (full year) 2006 (actual): 2007 (adjusted budget): 2007 (actual): 2008 (budget): DKK 574 million DKK 684 million DKK 691 million DKK 701 million actual actual Holland South East Europe Australia Central Europe Canada Finland Australia & New Zealand Holland Central Europe Canada Sweden Sweden Norway USA Norway USA Other APAC Germany Germany Other APAC China Hong Kong DK Project UK Denmark DK Project Denmark Hong Kong UK & Ireland China 17 Investor Presentation, 03/04/2008
18 Solutions Division 18 Investor Presentation, 03/04/2008
19 Solutions Division Characteristics Sizeable player in the core logistics markets Strong culture and loyal management Presence in most of Europe Opportunities Leverage on Road and Air & Sea Divisions Growth Challenges Become truly European Own operation Agents 19 Investor Presentation, 03/04/2008
20 Solutions 4,812 Employees Approximately 1.5 million m 2 Supply chain management Advanced logistic facilities and distribution Logistic management systems Consulting services to support our customers outsourcing processes 20 Investor Presentation, 03/04/2008
21 Solutions Division 1 ) 2007 Turnover (full year) 2006 (actual): 2007 (adjusted budget): 2007 (actual): 2008 (budget): DKK 1,004 million DKK 4,100 million DKK 4,240 million DKK 5,034 million EBITA (full year) 2006 (actual): 2007 (adjusted budget): 2007 (actual): 2008 (budget): DKK 53 million DKK 226 million DKK 222 million DKK 230 million 1 ) Segmentation changes DSV has changed its segmentation of Frans Maas and own activities in 2007 relative to In 2007 the Solution activities in UK, Germany, the Netherlands, Belgium, France, Poland and Romania is reported in the Solution division. In 2006 it was reported under the Road division. 21 Investor Presentation, 03/04/2008
22 - Thank you for your attention
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