Company Announcement No. 861
“Despite the COVID-19 pandemic and unpredictability throughout the year, 2020 was another strong year for DSV Panalpina. Thanks to an extraordinary effort by our staff, we delivered excellent results across all our divisions and markets. We completed the
Selected financial highlights for 2020 (1 January -
(DKKm) | Q4 2020 | Q4 2019 | Full-year 2020 | Full-year 2019 |
Revenue | 31,716 | 30,122 | 115,932 | 94,701 |
Gross profit | 7,212 | 7,084 | 28,534 | 23,754 |
EBIT before special items | 2,616 | 1,784 | 9,520 | 6,654 |
Special items | 685 | 609 | 2,164 | 800 |
Operating margin | 8.2% | 5.9% | 8.2% | 7.0% |
Conversion ratio | 36.3% | 25.2% | 33.4% | 28.0% |
Adjusted earnings | 6,146 | 4,456 | ||
Adjusted free cash flow | 8,746 | 3,678 | ||
Diluted adjusted earnings per share of | 26.5 | 22.1 | ||
Proposed dividend per share (DKK) | 4.00 | 2.50 | ||
EBIT before special items | ||||
Air & Sea | 1,790 | 1,195 | 7,026 | 4,506 |
Road | 420 | 272 | 1,390 | 1,251 |
Solutions | 456 | 340 | 1,161 | 1,013 |
Q4 2020 results
For Q4 2020, revenue amounted to
For Q4 2020, gross profit came to
EBIT before special items was up by 54.6% (in constant currencies) to
Dividend
The Board of Directors proposes ordinary dividends of
Outlook for 2021
- EBIT before special items is expected to be in the range of
DKK 10,500-11,500 million . - The effective tax rate of the Group is expected to be approximately 23%.
The 2021 outlook assumes a stable development in the markets in which we operate and a continued gradual recovery of the global economy after the COVID-19 crisis.
Share buyback – increase of current programme
A separate company announcement about an increase of the current share buyback programme of
New 2025 financial targets
After the integration of
Long-term financial targets
2025 targets (%) | 2020 | 2025 targets |
Conversion ratio | 33.4 | >40.0 |
ROIC (before tax) | 14.3 | >20.0 |
Divisional targets for conversion ratio | ||
Air & Sea | 41.6 | >47.5 |
Road | 22.6 | >30.0 |
Solutions | 21.6 | >30.0 |
Investor teleconference
DSV Panalpina will host an investor teleconference on
Contacts
Investor Relations
Media
Yours sincerely,
Attachment
- 861 - Announcement (10.02.2021) - 2020 ANNUAL REPORT
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