Latest news with #synergies
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3 hours ago
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DSV, 1159 - INTERIM FINANCIAL REPORT H1 2025
Company Announcement No. 1159 Stable organic financial performance and strong start to the integration of Schenker in a challenging market environment The integration of Schenker is off to a strong start both commercially and organisationally, with integration of the first countries set to commence in Q3 2025. Reaffirming expected synergies in the level of DKK 9 billion by the end of 2028. The DSV Group reported EBIT before special items of DKK 4,725 million in Q2 2025 driven by stable organic performance and a solid contribution of DKK 925 million from the acquisition of Schenker, despite a challenging market environment. Adjusted free cash flow of DKK 3,982 million in Q2 2025 with adjusted cash conversion of 143%, contributed to the deleveraging, resulting in a pro forma gearing ratio of 2.7x. Full-year 2025 guidance for EBIT before special items remains unchanged in the range of DKK 19.5 - 21.5 billion. Market development remains highly uncertain due to the current situation related to trade tariffs and macroeconomic outlook. Jens H. Lund, Group CEO: 'The second quarter has been extraordinary, with the completion of the acquisition of Schenker. While delivering on our financial expectations with stable organic earnings and a positive contribution from Schenker, we continue our commercial approach by servicing our customers in a highly volatile and unpredictable market. The integration of Schenker is off to a strong start, with the establishment of a new global leadership team. We have also engaged in close dialogue with our customers to ensure a smooth transition. In addition, we have held thorough and constructive negotiations with works councils in Germany, resulting in a frame agreement that will allow us to move forward with the integration and reduce uncertainty for employees and customers. We are confident that this acquisition will deliver significant benefits to our customers and create long-term value for our shareholders.'Selected key figures and ratios for the period 1 January – 30 June 2025 Q2 2025 Q2 2024 YTD 2025 YTD 2024 Key figures (DKKm) Revenue 61,983 41,157 103,663 79,497 Gross profit 17,241 10,841 28,232 21,106 Operating profit (EBIT) before special items 4,725 4,099 8,585 7,740 Profit for the period 2,356 2,712 5,168 5,105 Adjusted earnings for the period 3,059 2,790 5,932 5,253 Adjusted free cash flow 3,982 1,229 7,147 1,672 Ratios Conversion ratio 27.4% 37.8% 30.4% 36.7% Diluted adjusted earnings per share of DKK 1 for the last 12 months 51.5 52.7 Performance in Q2 2025While market conditions in Q2 2025 have been challenging and volatile for global trade due to the uncertainties related to trade tariffs, geopolitical issues and the macroeconomic outlook, DSV reported EBIT before special items of DKK 4,725 million compared to DKK 4,099 million in the same period last year. The growth in EBIT before special items was driven by stable organic performance, especially in Air & Sea, and positive contribution of DKK 925 million from the acquisition of Schenker. The Air & Sea division reported a higher EBIT before special items of DKK 3,461 million, compared to DKK 2,898 million in the same period last year with positive organic earnings growth due to higher gross profit combined with a solid contribution from Schenker. Road reported a lower EBIT before special items of DKK 520 million, compared to DKK 549 million in the same period last year. While Schenker contributed positively to earnings, the performance in the division was negatively affected by the overall low activity level and weak market conditions within some markets in Europe and the US. Contract Logistics reported a higher EBIT before special items of DKK 724 million, compared to DKK 661 million last year, based on a positive contribution from Schenker and a soft organic earnings performance. The division continues to focus on improving margins and return on invested capital through strict cost control and commercial initiatives. The acquisition of Schenker was completed on 30 April 2025 with two months of financial contribution to DSV in Q2 2025. The integration is off to a strong start with the global leadership team in place after the appointment of more than 500 executives already by May 2025. After thorough and constructive negotiations with German works councils, we have negotiated a frame agreement. This will allow us to begin the integration in Germany in H2 2025 and hereby reduce the uncertainty for employees and customers. The integration of the first countries will commence in Q3 2025, with the Air & Sea activities first in line. With reference to DSV's Announcement No. 1149 and Announcement No. 1154, DSV's Board of Directors intended to nominate former CEO of Schenker, Jochen Thewes, for election to the Board of Directors. However, Jochen Thewes has recently accepted an executive position, starting late this year, at a company investing in global supply chains, and the DSV Board of Directors and Jochen Thewes have agreed not to proceed with his nomination to the Board, as his new role is not considered compatible with a seat on the DSV Board. Board succession planning is ongoing, and the Board of Directors intends to nominate an additional member for shareholder approval. Outlook for 2025Based on the performance in H1 2025 and the expectations for H2 2025, the full-year outlook for 2025 is as follows: EBIT before special items in the range of DKK 19.5 - 21.5 billion (unchanged). A limited part of the total synergies related to the Schenker integration still expected in 2025 in the range of DKK 500-600 million. Amortisation of purchase price allocations below DKK 500 million (previously DKK 500 million). Special items related to restructuring and integration costs in the range of DKK 2.0-2.5 billion (unchanged). The effective tax rate is expected in the range of 26-28% (previously approximately 24%). During the integration of Schenker, we expect an elevated effective tax rate with the long-term effective tax rate still expected at 24%. The current uncertainties related to trade tariffs, the geopolitical landscape, including the Red Sea situation and macroeconomic factors, which all can impact the global trading environment and activity level, remain uncertain, and unforeseen changes may impact our financial expectations. We continue to monitor activity across our organisation, and we will adjust capacity and our cost base if needed. Synergies and integration costs related to SchenkerWe maintain our expectation of achieving annual synergies at the level of DKK 9 billion by the end of 2028, when the majority of the integration is expected to be completed. We expect that around 50% of the integration will be completed by the end of 2026 and 75% by the end of 2027. Total transaction and integration costs are still expected to be in the level of DKK 11 billion with the majority of the cost expected in 2026 and 2027. These costs will be charged to the statement of profit and loss as special items during the integration RelationsStig Frederiksen, tel. +45 43 20 36 38, Plenborg, tel. +45 43 20 33 73, MediaJonatan Rying Larsen, tel. +45 25 41 77 37, press@ Yours sincerely, DSV A/S Attachment 1159 - Announcement (31.07.2025) - INTERIM FINANCIAL REPORT H1 2025Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-07-2025
- Business
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Rogers looks for cost savings in sports portfolio after becoming MLSE majority owner
TORONTO — Rogers Communications Inc. hopes to find "revenue and cost synergies" in its expanded portfolio of sports assets after becoming the majority owner of Maple Leaf Sports & Entertainment. The Toronto-based telecom company believes its stock price undervalues its media and sports holdings and says it is "pursuing all options ... to monetize and surface the very substantial unrecognized market value" of those assets. Earlier this month, Rogers completed its $4.7-billion deal with rival BCE Inc. to buy its 37.5 per cent stake in MLSE. The acquisition, which closed July 1 after receiving the necessary regulatory and league approvals, made Rogers the majority owner of the sports conglomerate that owns the NHL's Maple Leafs, NBA's Raptors, CFL's Argonauts, MLS' Toronto FC and AHL's Marlies. Rogers also owns MLB's Toronto Blue Jays. "On sports and media, it's clear that there is significant underlying value and we are squarely focused as we put the assets together ... to continue to strengthen our balance sheet," said Rogers president and CEO Tony Staffieri on a conference call Wednesday, as the company reported its latest earnings. "The second part of our task is to surface the value for shareholders. We continue to work through the various options and the good news is we have very good options in front of us." Staffieri said it was premature to provide further insight about possible "synergies" within MLSE, but that Rogers would likely share details of its plans before the end of 2026. He said Rogers has "a very good track record" in finding ways to operate more efficiently, pointing to its 2023 merger with Shaw Communications Inc. "We went into this transaction with a view that we could execute on very strong synergies across our sports and media properties and certain things that need to happen before we can execute on those," he said. "But the thinking, the planning is underway and at the right time ... we can be more specific." Some industry watchers have speculated about the potential for Rogers to eventually fold the Blue Jays and related stadium assets into MLSE — an option floated by one analyst on the conference call who questioned if that's where Rogers might stand to eliminate "redundant costs" within its sports portfolio. "I expect that as we roll in the Toronto Blue Jays' Rogers Centre with Scotiabank Arena and the other venues within MLSE and the sports teams within MLSE, we will find revenue and cost synergies," chief financial officer Glenn Brandt replied. Meanwhile, the company updated its financial guidance on Wednesday to reflect the MLSE deal. Rogers now expects service revenue to increase three to five per cent year-over-year in 2025, up from its previous forecast of zero to three per cent growth, as a result of the anticipated contribution from MLSE. Rogers reported its second-quarter profit declined compared with a year ago as a result of higher restructuring, acquisition and other costs. The company said it earned $148 million or 29 cents per diluted share attributable to shareholders for the quarter ended June 30. The result was down from a profit of $394 million or 73 cents per share in the same quarter last year. Restructuring, acquisition and other costs totalled $238 million in the quarter, up from $90 million a year ago. Revenue for the three-month period totalled $5.22 billion, up from $5.09 billion a year earlier. Wireless service revenue was up one per cent from a year ago as its subscriber base grew, while wireless equipment revenue increased 13 per cent, primarily as a result of higher device sales to existing customers. Media revenue rose 10 per cent, boosted by strong NHL playoff audiences on Sportsnet and the launch of the Warner Bros. Discovery suite of television channels. Cable revenue was up one per cent. On an adjusted basis, Rogers earned $1.14 per diluted share, down from $1.16 per diluted share in the second quarter of 2024. The results came as the company reported 61,000 total mobile phone net subscriber additions, including 35,000 postpaid — down from 112,000 postpaid additions in the same quarter last year. Rogers' monthly churn for net postpaid mobile subscribers — a measure of those who cancelled their service — was 1.00 per cent, down from 1.07 per cent during its previous second quarter. Scotiabank analyst Maher Yaghi said the results were "broadly in line with expectations." "Wireless subscriber loading was relatively healthy given continued Canadian market normalization as a result of lower population growth," he said in a note. "While financial results do clearly show the impact from significant pricing pressures, we believe recent price ups which we saw since early June provide a more positive backdrop for the industry." The company recorded 26,000 prepaid net additions in the quarter, compared with 50,000 prepaid subscriber additions in the second quarter of 2024. Meanwhile, Rogers' mobile phone average monthly revenue per user was $55.45, down from $57.24 in the second quarter of the prior year. Retail internet net additions totalled 26,000. This report by The Canadian Press was first published July 23, 2025. Companies in this story: (TSX: RCI. B) Sammy Hudes, The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-07-2025
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Rogers looks for cost savings in sports portfolio after becoming MLSE majority owner
TORONTO — Rogers Communications Inc. hopes to find "revenue and cost synergies" in its expanded portfolio of sports assets after becoming the majority owner of Maple Leaf Sports & Entertainment. The Toronto-based telecom company believes its stock price undervalues its media and sports holdings and says it is "pursuing all options ... to monetize and surface the very substantial unrecognized market value" of those assets. Earlier this month, Rogers completed its $4.7-billion deal with rival BCE Inc. to buy its 37.5 per cent stake in MLSE. The acquisition, which closed July 1 after receiving the necessary regulatory and league approvals, made Rogers the majority owner of the sports conglomerate that owns the NHL's Maple Leafs, NBA's Raptors, CFL's Argonauts, MLS' Toronto FC and AHL's Marlies. Rogers also owns MLB's Toronto Blue Jays. "On sports and media, it's clear that there is significant underlying value and we are squarely focused as we put the assets together ... to continue to strengthen our balance sheet," said Rogers president and CEO Tony Staffieri on a conference call Wednesday, as the company reported its latest earnings. "The second part of our task is to surface the value for shareholders. We continue to work through the various options and the good news is we have very good options in front of us." Staffieri said it was premature to provide further insight about possible "synergies" within MLSE, but that Rogers would likely share details of its plans before the end of 2026. He said Rogers has "a very good track record" in finding ways to operate more efficiently, pointing to its 2023 merger with Shaw Communications Inc. "We went into this transaction with a view that we could execute on very strong synergies across our sports and media properties and certain things that need to happen before we can execute on those," he said. "But the thinking, the planning is underway and at the right time ... we can be more specific." Some industry watchers have speculated about the potential for Rogers to eventually fold the Blue Jays and related stadium assets into MLSE — an option floated by one analyst on the conference call who questioned if that's where Rogers might stand to eliminate "redundant costs" within its sports portfolio. "I expect that as we roll in the Toronto Blue Jays' Rogers Centre with Scotiabank Arena and the other venues within MLSE and the sports teams within MLSE, we will find revenue and cost synergies," chief financial officer Glenn Brandt replied. Meanwhile, the company updated its financial guidance on Wednesday to reflect the MLSE deal. Rogers now expects service revenue to increase three to five per cent year-over-year in 2025, up from its previous forecast of zero to three per cent growth, as a result of the anticipated contribution from MLSE. Rogers reported its second-quarter profit declined compared with a year ago as a result of higher restructuring, acquisition and other costs. The company said it earned $148 million or 29 cents per diluted share attributable to shareholders for the quarter ended June 30. The result was down from a profit of $394 million or 73 cents per share in the same quarter last year. Restructuring, acquisition and other costs totalled $238 million in the quarter, up from $90 million a year ago. Revenue for the three-month period totalled $5.22 billion, up from $5.09 billion a year earlier. Wireless service revenue was up one per cent from a year ago as its subscriber base grew, while wireless equipment revenue increased 13 per cent, primarily as a result of higher device sales to existing customers. Media revenue rose 10 per cent, boosted by strong NHL playoff audiences on Sportsnet and the launch of the Warner Bros. Discovery suite of television channels. Cable revenue was up one per cent. On an adjusted basis, Rogers earned $1.14 per diluted share, down from $1.16 per diluted share in the second quarter of 2024. The results came as the company reported 61,000 total mobile phone net subscriber additions, including 35,000 postpaid — down from 112,000 postpaid additions in the same quarter last year. Rogers' monthly churn for net postpaid mobile subscribers — a measure of those who cancelled their service — was 1.00 per cent, down from 1.07 per cent during its previous second quarter. Scotiabank analyst Maher Yaghi said the results were "broadly in line with expectations." "Wireless subscriber loading was relatively healthy given continued Canadian market normalization as a result of lower population growth," he said in a note. "While financial results do clearly show the impact from significant pricing pressures, we believe recent price ups which we saw since early June provide a more positive backdrop for the industry." The company recorded 26,000 prepaid net additions in the quarter, compared with 50,000 prepaid subscriber additions in the second quarter of 2024. Meanwhile, Rogers' mobile phone average monthly revenue per user was $55.45, down from $57.24 in the second quarter of the prior year. Retail internet net additions totalled 26,000. This report by The Canadian Press was first published July 23, 2025. Companies in this story: (TSX: RCI. B) Sammy Hudes, The Canadian Press
Yahoo
21-07-2025
- Business
- Yahoo
Shares of Brazil's Fleury jump on reports of talks with Rede D'Or
SAO PAULO (Reuters) -Shares of Brazilian medical diagnostics company Fleury jumped on Monday after reports of a potential acquisition by hospital chain Rede D'Or, which analysts said could generate synergies. Fleury's shares rose more than 15% in trading in Sao Paulo, making it the biggest gainer on benchmark stock index Bovespa, which was up 0.6%. Rede D'Or, meanwhile, gained 1.2%. Multiple local media outlets said on Sunday that Rede D'Or was in talks with Fleury on a deal that could combine Brazil's largest integrated healthcare network with a leading medical lab chain. Brazil Journal reported, citing sources, that Rede D'Or was working on an offer that could include both a cash payment and share swap. Fleury counts lender Bradesco as one of its main shareholders. Rede D'Or said on Monday it continuously evaluates opportunities to expand, including potential acquisitions or business combinations, but that no decision or proposal had been made for a potential deal with Fleury. In a separate statement, Fleury said it regularly analyzes market conditions but also noted that no decision had been reached on a potential transaction with Rede D'Or. Goldman Sachs analysts said Fleury could benefit under Rede D'Or's management from better procurement terms, especially on materials, in which there would be some overlap, and a leaner general and administrative structure. Fleury has a market capitalization of 6.91 billion reais ($1.24 billion), while Rede D'Or's market cap stands at 75.29 billion reais, according to LSEG data. Rede D'Or in 2022 acquired insurer SulAmerica in a deal worth 13 billion reais, part of a trend for consolidation in Brazil's healthcare sector that saw the hospital chain as one of the most active companies in recent years. Analysts at Santander said a deal between Fleury and Rede D'Or would make sense from a strategic point of view. "Main synergies could be related to higher scale, and therefore more bargaining power to buy materials at Fleury and G&A savings," they said. ($1 = 5.5704 reais) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
21-07-2025
- Business
- Reuters
Shares of Brazil's Fleury jump on reports of talks with Rede D'Or
SAO PAULO, July 21 (Reuters) - Shares of Brazilian medical diagnostics company Fleury ( opens new tab jumped on Monday after reports of a potential acquisition by hospital chain Rede D'Or ( opens new tab, which analysts said could generate synergies. Fleury's shares rose more than 15% in trading in Sao Paulo, making it the biggest gainer on benchmark stock index Bovespa (.BVSP), opens new tab, which was up 0.6%. Rede D'Or, meanwhile, gained 1.2%. Multiple local media outlets said on Sunday that Rede D'Or was in talks with Fleury on a deal that could combine Brazil's largest integrated healthcare network with a leading medical lab chain. Brazil Journal reported, citing sources, that Rede D'Or was working on an offer that could include both a cash payment and share swap. Fleury counts lender Bradesco ( opens new tab as one of its main shareholders. Rede D'Or said on Monday it continuously evaluates opportunities to expand, including potential acquisitions or business combinations, but that no decision or proposal had been made for a potential deal with Fleury. In a separate statement, Fleury said it regularly analyzes market conditions but also noted that no decision had been reached on a potential transaction with Rede D'Or. Goldman Sachs analysts said Fleury could benefit under Rede D'Or's management from better procurement terms, especially on materials, in which there would be some overlap, and a leaner general and administrative structure. Fleury has a market capitalization of 6.91 billion reais ($1.24 billion), while Rede D'Or's market cap stands at 75.29 billion reais, according to LSEG data. Rede D'Or in 2022 acquired insurer SulAmerica in a deal worth 13 billion reais, part of a trend for consolidation in Brazil's healthcare sector that saw the hospital chain as one of the most active companies in recent years. Analysts at Santander said a deal between Fleury and Rede D'Or would make sense from a strategic point of view. "Main synergies could be related to higher scale, and therefore more bargaining power to buy materials at Fleury and G&A savings," they said. ($1 = 5.5704 reais)
