DSDVF - DSV A/S (DSDVF) Q2 2024 Earnings Call Transcript
2024-07-24 14:19:07 ET
DSV A/S (DSDVF)
Q2 2024 Results Conference Call
July 24, 2024 05:00 AM ET
Company Participants
Jens Lund - Group Chief Executive Officer
Michael Ebbe - Chief Financial Officer
Conference Call Participants
Cristian Nedelcu - UBS
Lars Heindorff - Nordea
Muneeba Kayani - Bank of America
Ulrik Bak - SEB
Alex Irving - Bernstein
Parash Jain - HSBC
Peter Sehested - ABG
Sathish Sivakumar - Citi
Marco Limite - Barclays
Presentation
Operator
Welcome to the DSV Trading Update for the first half of 2024. Today's call is being recorded. [Operator Instructions]. I would now like to introduce Group CEO, Jens Lund; and Group CFO, Michael Ebbe. Please begin.
Jens Lund
Thank you very much to all of your listeners. Welcome to our Q2 investor call. We are here in Hedehusene. Michael Ebbe and I, we are ready to take you through the presentation. And then afterwards, we will have the questions and we will allow two questions per participant in order to ensure that everybody gets the opportunity to ask questions.
The call will be an hour. And if we go through the agenda, we can see that it's the usual agenda we have. And I would just encourage you to have a look at the forward-looking statements as well, so that we also check the box when it comes to compliance. And then we will quickly move to the next slide and talk about the highlights. I think when we sit in the management team and look at the numbers, it's good to see that we now sequentially see growth in both GP and EBIT.
It's been a journey where we've seen a decline for some quarters in a row. So really good to see that we are back on the growth trajectory. We're also raising our guidance so that we narrow it and take the lower end of our guidance out. We previously had DKK 15 billion to DKK 17 billion, now we have DKK 15.5 billion to DKK 17 billion. If we look at the cash flow of the company, it's impacted by the increased activity level and of course also by the rate levels going up, but we still launched a share buyback of DKK 1.5 billion for the next quarter, a little bit up from the previous quarter as well.
And then we also basically take yet another step in our operational efficiency program and trying to accelerate that a little bit because of the market conditions that we're seeing, and that will kick off here in the second half.
So if we move to the next slide, we will go to the Air & Sea division. And of course, the overall figures are very nice to see that also here. We sequentially make some progress when it comes to both GP and EBIT. And I think it's also important to note here that now we see that the conversion ratio is also moving in the right direction. So driving the conversion ratio of the EBIT level is also now increasing again....
DSV A/S (DSDVF) Q2 2024 Earnings Call Transcript