News / DSV Panalpina updates guidance for full-year 2020

Based on financial performance for the first nine months of 2020, DSV has updated its guidance for full-year 2020. Notable items include operating profit before special items is expected to be above Dkr9.25bn ($1.45bn) (in line with trading update of 9 October); special items, costs for 2020 are expected in the level of Dkr2.1bn (previously Dkr2.3bn); and the effective tax rate is expected in the level of 25%. The guidance is based on assumptions of a continued gradual improvement of the freight markets with no further material disruptions of global supply chains, said the company.

And there was a separate company announcement about the launch of a new share buyback programme of up to Dkr6bn. The programme will run until 30 April 2021 or earlier if finalised.