DSDVY - DSV A/S (DSDVF) Q4 2023 Earnings Call Transcript
2024-02-01 16:53:11 ET
DSV A/S (DSDVF)
Q4 2023 Results Conference Call
February 01, 2024 05:00 AM ET
Company Participants
Jens Bjorn Andersen - Outgoing Chief Executive Officer
Jens Lund - Chief Executive Officer
Michael Ebbe - Chief Financial Officer
Conference Call Participants
Alex Irving - Bernstein
Cristian Nedelcu - UBS
Sathish Sivakumar - Citi
Ulrik Bak - SEB
Marc Zeck - Stifel
Sam Bland - JPMorgan
Lars Heindorff - Nordea
Muneeba Kayani - Bank of America
Alexia Dogani - Barclays
Dan Togo - Carnegie
Presentation
Operator
Hi everyone, and welcome to the DSV Trading Update for DSV's Annual Report for 2023. Today's call is being recorded. [Operator Instructions] I'd like to introduce departing CEO, Jens Bjorn Andersen; new CEO, Jens Lund; and CFO, Michael Ebbe. Speakers, please begin.
Jens Bjorn Andersen
Thank you very much, Jens Andersen here. Thanks for taking the time to listen in to the full-year 2023 result conference call here from Hedehusene, Denmark. We will start with -- to go straight into the presentation with the agenda on Page number 2. And please also take a moment to go through the forward-looking statements that were put at the bottom right-hand corner. So after the agenda, we'll go straight into the highlights on Page number 3. We are pleased about being able to deliver what we see as a good financial set of results this morning within the guided range. And if we take just a moment to pause and go back 12 months, please remember that the guidance is between DKK 16 billion and DKK 18 billion.
So looking at that, we're actually really happy about the results. Also, we feel that the cash flow of DKK 15 billion -- or exceeding DKK 15 billion going back to shareholders in the past year is satisfactory and in line with the capital allocation principles that we've always adhered to. 2023 will go down in history as another eventful year, a volatile year, a lot of things happening where we had key focus on organic growth, but where we also announced the big joint venture that we are very happy about with the NEOM organization. This morning, we have also issued a new guidance, which is between DKK 15 billion and DKK 17 billion.
This morning, we have also announced that today will be my last day as CEO of the company. I was already de-listed this morning. So Jens Lund is a new CEO in line with what we announced also in October. And if I may just put a few comments to that. This should have been seen from the beginning as when we said 1 of October this year, no later than 1 of October.
Jens has been in the company over 20 years. I've worked with Jens for more than 15 years, and it was never kind of the idea that we should have a 12-month period before Jens could take over. It's a natural time today where we announced the 2023 results and where Jens and his new team, which was also part of the agenda, will take over. And I'm 100% sure we'll steer the company in a good manner through 2024 and the coming years as well.
I'll conclude the presentation a little bit later on. But with that said, I think we should go to Page number 4. And Jens Lund, over to you....
DSV A/S (DSDVF) Q4 2023 Earnings Call Transcript