🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

DSV jumps after raising guidance

Published 10/04/2024, 04:21 AM
© Reuters.
DSV
-

Investing.com -- Shares of DSV A/S (OTC:DSDVY) (CSE:DSV) jumped on Friday after the Danish logistics giant raised its full-year guidance and pre-released third-quarter results that were in line with expectations.

At 4:21 am (0821 GMT), DSV A/S was trading 6.2% higher at DKK 1,498.

The company now anticipates adjusted EBIT for 2024 to be in the range of DKK 16 to 17 billion, up from its previous forecast of DKK 15.5 to 17.0 billion. 

“We do not expect any revisions in the consensus,” said analysts at Citi Research in a note.

The upward revision has boosted investor confidence, particularly as DSV’s third-quarter adjusted EBIT landed around DKK 4.4 billion, aligning with both analyst estimates and the company’s expectations. 

The improved full-year outlook is seen as a positive signal, especially with the company moving forward on its major EUR 14.3 billion acquisition of DB Schenker. 

DSV also announced plans to raise DKK 37.3 billion through the issuance of new shares. The offering, which will take place via a directed issue and private placement with an accelerated bookbuilding process, is fully underwritten. 

Net proceeds from the capital raise will be directed towards partially financing the DB Schenker deal. This deal is expected to boost DSV’s market position and operational scale, making the financing move a critical step in its expansion strategy.

DSV securing DKK 21 billion in cornerstone commitments from key stakeholders has provided strong backing for the company’s capital raise. 

If the DB Schenker acquisition goes through, it would rank among the largest deals in the logistics industry, further cementing DSV's status as a global leader.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.