DSV A/S Balance Sheet

Financials in millions DKK. Fiscal year is January - December.

Millions DKK. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	13,179	83,576	6,452	10,160	8,299
Cash & Short-Term Investments	13,179	83,576	6,452	10,160	8,299
Cash Growth	-84.23%	1195.35%	-36.50%	22.42%	104.41%
Accounts Receivable	55,058	33,576	27,281	38,172	46,166
Other Receivables	7,834	4,316	4,283	4,179	4,009
Receivables	62,892	37,892	31,564	42,351	50,175
Inventory	2,095	5,007	4,314	1,889	284
Other Current Assets	41	37	44	38	66
Total Current Assets	78,207	126,512	42,374	54,438	58,824
Property, Plant & Equipment	52,193	25,492	21,869	20,978	19,971
Goodwill	147,440	76,645	75,774	76,293	75,063
Other Intangible Assets	3,514	1,232	1,332	1,381	1,598
Long-Term Deferred Tax Assets	5,681	3,312	3,300	3,494	3,544
Other Long-Term Assets	3,338	3,352	2,461	2,461	2,395
Total Assets	290,373	236,545	147,110	159,045	161,395
Accounts Payable	23,493	14,456	13,111	14,992	17,040
Short-Term Debt	629	292	677	-	1,078
Current Portion of Long-Term Debt	9,426	-	1,462	814	3,394
Current Portion of Leases	6,846	4,349	3,808	3,577	3,440
Current Income Taxes Payable	3,569	1,855	1,256	3,254	3,074
Current Unearned Revenue	12,726	8,063	7,920	12,085	13,289
Other Current Liabilities	25,604	10,199	10,105	12,047	12,098
Total Current Liabilities	82,293	39,214	38,339	46,769	53,413
Long-Term Debt	56,950	60,852	20,004	21,398	16,993
Long-Term Leases	24,084	17,324	14,139	13,190	11,848
Pension & Post-Retirement Benefits	2,098	457	1,281	1,183	908
Long-Term Deferred Tax Liabilities	1,330	408	609	504	447
Other Long-Term Liabilities	5,928	3,787	3,772	4,260	3,508
Total Liabilities	172,683	122,042	78,144	87,304	87,117
Common Stock	240	240	219	219	240
Retained Earnings	122,567	113,705	69,202	70,381	74,219
Treasury Stock	-4	-6	-10	-2	-6
Comprehensive Income & Other	-5,389	243	-708	921	-350
Total Common Equity	117,414	114,182	68,703	71,519	74,103
Minority Interest	276	321	263	222	175
Shareholders' Equity	117,690	114,503	68,966	71,741	74,278
Total Liabilities & Equity	290,373	236,545	147,110	159,045	161,395
Total Debt	97,935	82,817	40,090	38,979	36,753
Net Cash (Debt)	-84,756	759	-33,638	-28,819	-28,454
Net Cash Per Share	-358.89	3.53	-156.08	-125.05	-122.31
Filing Date Shares Outstanding	237.54	235.04	208.7	215.9	233.4
Total Common Shares Outstanding	236.74	234.94	209.16	216.9	234.2
Working Capital	-4,086	87,298	4,035	7,669	5,411
Book Value Per Share	495.95	486.00	328.47	329.73	316.41
Tangible Book Value	-33,540	36,305	-8,403	-6,155	-2,558
Tangible Book Value Per Share	-141.67	154.53	-40.17	-28.38	-10.92
Land	19,318	4,200	3,962	4,461	4,907
Machinery	9,388	6,209	5,256	4,425	3,838
Construction In Progress	1,327	592	580	414	282

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.