DSV, 486 – 2012 Annual Report

“In a transport market which remained weak throughout Q4 2012, we are proud to present good interim results and full year 2012 results that are overall in line with the expectations announced in the beginning of the year. In 2012, we have worked hard to provide good services for our customers while maintaining a high focus on productivity and internal cost management. We do not anticipate any notable improvement in the market in 2013, but DSV has reason to be cautiously optimistic. We are well positioned and expect to achieve growth in the coming years”, states Jens Bjørn Andersen, CEO.

Selected financial and operating data for the 2012 financial statements (1 January – 31 December 2012)

Management considers the results for the financial year ended 31 December 2012 to be satisfactory. The Board of Directors proposes increased dividends of DKK 1.25 per share against dividends of DKK 1.00 per share for 2011.

Outlook for 2013
The 2013 outlook of the DSV Group is as follows:

• Gross profit is expected to be in the range of DKK 10,100 – 10,500 million
• Operating profit before special items (EBITA) is expected to be in the range of DKK 2,550 – 2,750 million
• Net financial expenses are expected to approximate DKK 300 million
• The effective tax rate of the Group is expected to be close to 26%
• The free cash flow, before any acquisition or divestment of enterprises, is expected to
  approximate DKK 1,750 million

Investor teleconference
DSV will host an investor teleconference on 20 February 2013 at 10.30 a.m. CET.  Reference is made to Company Announcement No. 484 for further details.

Inquiries relating to the Annual Report
Questions made be addressed to Jens Bjørn Andersen, CEO, tel. +45 43 20 30 40, or Jens H. Lund, CFO, tel. +45 43 20 30 40.

This announcement has been forwarded to NASDAQ OMX Copenhagen and to the press. It is also available at www.dsv.com. The announcement has been prepared in Danish and in English. In the event of discrepancies, the Danish version shall apply.

Yours sincerely,
DSV

Jens Bjørn Andersen            Jens H. Lund
CEO                                     CFO