newstodate.aero
Copenhagen, jan 21, 2003 ((newstodate): In a statement to the Danish stock exchange, DSV has lowered its estimate for year 2002.
-In connection with the Q3/2002 report, the management indicated that DSV expected to be able to make up for the shortfall in realised figures compared with budgets existing at the time. However, DSV has been unable to meet these expectations in Q4/2002, the statement reads.
In money terms, turnover has been lowered from 18,552 to 17,600 million Danish Kroner, EBITA from 908 to 800, while pre-tax profits remains practically unchanged.
In its comments to the present revised expectations for 2002, DSV notes that the Road division which is the Group's most important division is now expected to outperform budgets. Air & Sea will fall short of the 244 million-budget by 60-65 million Kroner, mainly due to strong under-performance at 50-55 million in the division's Danish company. In consequence, a new management has been appointed to improve operations in a hope to improve results for 2003.
The Logistics division is expected to fetch some 30-35 million less that the budgetted 24 milion Kroner. The joint venture with TNT is, however, expected to produce a small profit in 2003.
For 2003, DSV budgets with a turnover of DKK 18,300 million, and an EBITA of DKK 900 million.
-In connection with the Q3/2002 report, the management indicated that DSV expected to be able to make up for the shortfall in realised figures compared with budgets existing at the time. However, DSV has been unable to meet these expectations in Q4/2002, the statement reads.
In money terms, turnover has been lowered from 18,552 to 17,600 million Danish Kroner, EBITA from 908 to 800, while pre-tax profits remains practically unchanged.
In its comments to the present revised expectations for 2002, DSV notes that the Road division which is the Group's most important division is now expected to outperform budgets. Air & Sea will fall short of the 244 million-budget by 60-65 million Kroner, mainly due to strong under-performance at 50-55 million in the division's Danish company. In consequence, a new management has been appointed to improve operations in a hope to improve results for 2003.
The Logistics division is expected to fetch some 30-35 million less that the budgetted 24 milion Kroner. The joint venture with TNT is, however, expected to produce a small profit in 2003.
For 2003, DSV budgets with a turnover of DKK 18,300 million, and an EBITA of DKK 900 million.