DSV benefits from 2020
If a company is pushing a share buyback programme, its war chest is full. That is the case of the Danish DSV, which has reported its annual results for 2020.
Revenues for the full year amounted to almost DKK 116 billion (EUR 15.46 billion), a significant rise of 18.3% compared to 2019 (DKK 94.7 billion /EUR 12.73 billion).
Q4/2020 was especially strong with revenues amounting to DKK 31.7 billion (EUR 4.26 billion). The growth of 10.5% was mainly driven by increased freight rates, while Q4/2020 was also the first quarter with full impact of the Panalpina acquisition on comparative figures.
For the whole of 2020, ebit amounted to DKK 9.5 billion (EUR 1.28 billion), a leap of 30% in comparison to 2019 (DKK 6.65 billion/EUR 890 million).
The company's outlook for the 2021 ebit before special items is expected to be in the range of DKK 10.5-11.5 billion (EUR 1.55-1.41 billion).
The group’s effective tax rate is expected to be approximately 23%. The group has also increased its current programme to DKK 8 billion (EUR 1.1 billion). The programme will run until 30 April 2021. (sh)