November 1, 2019 / 6:47 AM / 19 days ago

BRIEF-DSV Q3 Adjusted EBIT At DKK 1.79 Billion

Nov 1 (Reuters) - Dsv:

* REG-DSV, 799 - INTERIM FINANCIAL REPORT Q3 2019

* Q3 REVENUE DKK 24.52 BILLION (REFINITIV POLL DKK 24.04 BILLION)

* Q3 ADJUSTED EBIT DKK 1.79 BILLION (REFINITIV POLL DKK 1.77 BILLION)

* Q3 NET PROFIT DKK 1.15 BILLION (REFINITIV POLL DKK 1.10 BILLION)

* EXPECTATIONS FOR FULL-YEAR EBIT BEFORE SPECIAL ITEMS FOR 2019 ARE AT DKK 6,600 MILLION INCLUDING AMORTISATION OF CUSTOMER RELATIONSHIPS OF APPROXIMATELY DKK 100 MILLION, OF WHICH DKK 80 MILLION ARE RELATED TO PANALPINA

* TRANSACTION AND INTEGRATION COSTS (REPORTED AS SPECIAL ITEMS) FOR 2019 ARE EXPECTED TO AMOUNT TO APPROXIMATELY 30% OF TOTAL EXPECTED RESTRUCTURING COSTS OF DKK 2,300 MILLION

* WHEN PANALPINA IS FULLY INTEGRATED WE EXPECT TO ACHIEVE ANNUAL COST SYNERGIES OF AROUND DKK 2,300 MILLION (PREVIOUSLY ANNOUNCED DKK 2,200 MILLION)

* AROUND 5% OF COST SYNERGIES ARE EXPECTED TO IMPACT INCOME STATEMENT IN 2019, AROUND 60% IN 2020 AND REMAINING 35% IN 2021.

* TOTAL TRANSACTION AND INTEGRATION COSTS ARE EXPECTED IN LEVEL OF DKK 2,300 MILLION

* WE EXPECT THAT APPROXIMATELY 30% OF TRANSACTION AND INTEGRATION COSTS WILL MATERIALISE IN 2019, 55% IN 2020 AND 15% IN 2021

* WE ARE PLEASED TO REPORT STRONG RESULTS FOR Q3, DESPITE CHALLENGING MARKET CONDITIONS, ESPECIALLY IN AIR FREIGHT MARKET Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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