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INTERIM FINANCIAL REPORT Q1 2021 Company Announcement No. 882 Selected key figures and ratios for the period 1 January - 31 March 2021 ( DKKm ) Key figures and ratios Revenue Gross profit Operating profit ( EBIT ) before special items Profit after tax Adjusted earnings for the period Adjusted free cash flow Conversion ratio Diluted adjusted earnings per share of DKK 1 for the last 12 months DSV Q1 2021 33,616 7,785 3,067 2,329 2,390 1,690 39.4 % 33.7 The agreement to acquire Agility's Global Integrated Logistics business in an all - share transaction is further described in this announcement and in Company Announcement No. 881 . Outlook for 2021 Based on the strong start to the year , the full - year outlook for 2021 previously announced is upgraded as follows : Contacts Investor Relations : Flemming Ole Nielsen , tel . +45 43 20 33 92 , flemming.o.nielsen@dsv.com Investor Relations : Mads Kristian Hofmeister , tel . +45 43 20 33 88 , madskristian.hofmeister@dsv.com Media : Maiken Riise Andersen , tel . +45 43 20 30 74 , maiken.r.andersen@dsv.com Yours sincerely , DSV Panalpina A / S Jens Bjørn Andersen , Group CEO : " Today , we are proud to announce our agreement to unite with Agility's Global Integrated Logistics . The combination of our two groups is a perfect match , and Global Integrated Logistics will add around 23 % to DSV Panalpina's annual revenue and strengthen our global network , especially in the Air & Sea division . On an eventful day , we are also happy to report 106 % growth in EBIT before special items in the first quarter of 2021 and an upgrade of the financial outlook for full - year 2021. The strong earnings growth in Q1 was driven by good performance in all business areas , and we benefit from cost discipline and the full - year impact from Panalpina synergies . The markets in air and sea are characterised by strong demand and tight capacity , and it takes an extraordinary effort by our staff to find good solutions for our customers under these challenging market conditions . " 27 April 2021 Q1 2020 Page 1 of 20 27,309 6,684 1,566 331 Operating profit before special items is expected to be in the range of DKK 11,250 - 12,000 million ( previously DKK 10,500 11,500 million ) . The effective tax rate is expected to approximate 23 % ( unchanged ) . 755 915 23.4 % 19.0 The financial outlook for 2021 is for DSV Panalpina stand - alone and excludes the impact from the acquisition of Global Integrated Logistics . The outlook will be updated upon closing , which is expected in Q3 2021 . Share buyback A separate company announcement about the launch of a new share buyback programme of up to DKK 4,000 million will be issued today . The programme will run until 28 July 2021 or earlier if finalised . DSV Panalpina A / S , Hovedgaden 630 , 2640 Hedehusene , Denmark , tel . +45 43 20 30 40 , CVR No. 58233528 , www.dsv.com . DSV Panalpina Group We provide and manage supply chain solutions for thousands of companies every day - from the small family run business to the large global corporation . Our reach is global , yet our presence is local and close to our customers . More than 57,000 employees in more than 80 countries work passionately to deliver great customer experiences and high - quality services . Read more at www.dsv.com