Assets
| Type | Time | Amount | Unit |
|---|---|---|---|
| ifrs-full:Assets | 2023-12-31 | 147110000000 | dkk |
| ifrs-full:Assets | 2022-12-31 | 159045000000 | dkk |
Revenue
| Type | Start date | End date | Amount | Unit |
|---|---|---|---|---|
| ifrs-full:Revenue | 2023-01-01 | 2023-12-31 | 150785000000 | dkk |
| ifrs-full:Revenue | 2022-01-01 | 2022-12-31 | 235665000000 | dkk |
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<mrv:StatementOfTargetFiguresAndPoliciesForTheUnderrepresentedGender contextRef="ctx-1" id="s10_notesesefdkgaap__7__10" xml:lang="en">Reporting on Diversity at management levels cf. section 99b of the Danish Financial Statements Act Our Board of Directors has 8 members where 38% are women and 62% men, which is considered an equal gender composition according to Danish corporate governance rules. Five board members have Danish citizenship while three live in countries other than Denmark and have other citizenships.To achieve a balanced gender distribution, we are working towards atarget of 40% female representation by 2030 at Executive Management levels in our large Danish companies.Executive Management comprises the Executive Board and the direct management level below (other management levels). Executive Management in DSV A/S comprises 13 members. At end of 2023, the gender distribution comprised women and 77% men, remaining unchanged from last year.This target is aligned with our Diversity and Inclusion Policy and is sup-ported by our recruitment and succession planning policies. We continued our mandatory diversity and inclusion training for all new managers and HR staff during 2023. Further development of initiatives to reach this target will continue during 2024.</mrv:StatementOfTargetFiguresAndPoliciesForTheUnderrepresentedGender>
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<mrv:StatusOfAchievementOfTargetFigureOfUnderrepresentedGenderBoardOfDirectors contextRef="ctx-1" id="s10_notesesefdkgaap__7__13" xml:lang="en">which is considered an equal gender composition according to Danish corporate governance rules.</mrv:StatusOfAchievementOfTargetFigureOfUnderrepresentedGenderBoardOfDirectors>
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<sob:StatementByExecutiveAndSupervisoryBoards contextRef="ctx-1" id="s10_notesesefdkgaap__7__163" xml:lang="en">The Board of Directors and Executive Board have today considered and adopted the Annual Report of DSV A/S for the financial year 1 January to 31 December 2023.The Annual Report has been prepared in accordance with IFRS Accounting Standards as issued by the International Accounting Standard Board (IASB) and in accordance with IFRS Accounting Standards as adopted by the European Union and further requirements for listed companies in the Danish Financial Statements Act.In our opinion, the Consolidated Financial Statements and the Parent Company Financial Statements give a true and fair view of the financial position of the Group and the Parent Company at 31 December 2023 and of the results of the Group and Parent Company operations and cash flows for the financial year 2023.In our opinion, the Annual Report of DSV A/S for the financial year 1 January to 31 December 2023 with the file name DSV-2023-12-31-en.zip is prepared, in all material respects, in compliance with the ESEF Regulation.Managementâs commentary has been prepared in accordance with the requirements of the Danish Financial Statements Act and the disclosure requirements of Article 8 of Regulation (EU) 2020/852 (EU Taxonomy Regulation).In our opinion, Managementâs commentary includes a true and fair account of the development in the operations and financial circumstances of the Group and the Parent Company, of the results for the year and of the financial position of the Group and the Parent Company as well as a de-scription of the most significant risks and elements of uncertainty facing the Group and the Parent Company.We recommend that the Annual Report be adopted at the Annual General Meeting.</sob:StatementByExecutiveAndSupervisoryBoards>
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<sob:DateOfApprovalOfAnnualReport contextRef="ctx-1" id="s10_notesesefdkgaap__7__165">2024-02-01</sob:DateOfApprovalOfAnnualReport>
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<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-41" id="s10_notesesefdkgaap__7__179" xml:lang="en">Tarek Sultan Al-Essa</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-38" id="s10_notesesefdkgaap__7__176" xml:lang="en">Marie-Louise Aamund</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
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<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-43" id="s10_notesesefdkgaap__7__181" xml:lang="en">Helle Ãstergaard Kristiansen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements contextRef="ctx-1" id="s10_notesesefdkgaap__7__183" xml:lang="en">To the shareholders of DSV A/S</arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements>
<arr:OpinionOnAuditedFinancialStatements contextRef="ctx-1" id="s10_notesesefdkgaap__7__184" xml:lang="en">Our opinionIn our opinion, the Consolidated Financial Statements and the Parent Company Financial Statements give a true and fair view of the Groupâs and the Parent Companyâs financial position at 31 December 2023 and of the results of the Groupâs and the Parent Companyâs operations and cash flows for the financial year 1 January to 31 December 2023 in accord-ance with IFRS Accounting Standards as issued by the International Ac-counting Standards Board (âIASBâ) and in accordance with IFRS Accounting Standards as adopted by the EU and further requirements in the Danish Financial Statements Act.Our opinion is consistent with our Auditorâs Long-form Report to the Audit Committee and the Board of Directors.What we have auditedThe Consolidated Financial Statements and Parent Company Financial Statements of DSV A/S for the financial year 1 January to 31 December 2023 comprise statement of profit or loss and statement of comprehen-sive income, statement of cash flows, statement of financial position, statement of changes in equity and notes, including material accounting policy information for the Group as well as for the Parent Company. Collectively referred to as the âFinancial Statementsâ.</arr:OpinionOnAuditedFinancialStatements>
<arr:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="ctx-1" id="s10_notesesefdkgaap__7__185" xml:lang="en">Basis for opinionWe conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the Auditorâs responsibilities for the audit of the Financial Statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.IndependenceWe are independent of the Group in accordance with the International Ethics Standards Board for Accountantsâ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical require-ments applicable in Denmark. We have also fulfilled our other ethical re-sponsibilities in accordance with these requirements and the IESBA Code. To the best of our knowledge and belief, prohibited non-audit services referred to in Article 5(1) of Regulation (EU) No 537/2014 were not provided. AppointmentWe were first appointed auditors of DSV A/S on 9 March 2017 for the financial year 2017. We have been reappointed annually by shareholder resolution for a total period of uninterrupted engagement of seven years including the financial year 2023.</arr:DescriptionOfQualificationsOfAuditedFinancialStatements>
<arr:KeyAuditMattersAudit contextRef="ctx-1" id="s10_notesesefdkgaap__7__186" xml:lang="en">Key audit mattersKey audit matters are those matters that, in our professional judgement, were of most significance in our audit of the Financial Statements for 2023. These matters were addressed in the context of our audit of the Financial Statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.Revenue recognition, contract assets and accrued cost of services The Groupâs revenue consists primarily of services, i.e. shipments of goods between destinations, which by nature is rendered over a period of time. We focused on this area, because at year-end, material contract assets and accrued cost of services exist which involve significant accounting esti-mates and which are complex by nature, i.e. accrual of income (contract assets) and related costs (accrued cost of services), including methods and data applied and assumptions made by Management. The process of ac-cruing for services rendered is, therefore, complex and dependent on rel-evant IT controls in certain IT systems and significant management judgement and estimates. Moreover in the Air & Sea division, an inherent risk exists regarding estimates for recognising revenue in the right period at year-end due to the services being rendered over a lengthier period of time.In addition, we focused on this area because of the significance of revenue and as revenue consists of a substantial number of transactions, including with different characteristics depending on which business segment the revenue relates to.Reference is made to notes 2.2 and 3.4 in the Consolidated Financial Statements. How our audit addressed the key audit matter Our audit procedures included considering the appropriateness of the accounting policies for revenue recognition applied by Management and assessing compliance with applicable IFRS Accounting Standards, including disclosure requirements. We updated our understanding of relevant controls, including Group controlling procedures and IT controls, concerning the timing of revenue recognition and evaluated whether these were designed in line with the Groupâs accounting policies and were operating effectively.For contract assets and accrued cost of services, we examined reports con-cerning services in progress at year-end and challenged the estimates made by Management regarding revenue and related cost accruals, including Man-agementâs use of methods, assumptions and data for preparing the estimates.Moreover, we selected a sample of transactions during the year and at year-end, and traced these to underlying evidence to determine whether revenue and the related costs are recognised in the right period.In addition, we applied data analysis in our testing of revenue transactions in order to identify and assess transactions outside the ordinary transaction flow. Deferred tax assets and income tax positions The Group operates in many territories and is, consequently, subject to local laws and cross-border transfer pricing legislation, which complicates the Groupâs tax matters, and which gives rise to provisions for income tax positions.The Group also carries significant deferred tax assets that consist primarily of tax on provisions made at the balance sheet date and tax loss carryfor-wards. The utilisation of tax losses and tax amortisation balances is, inher-ently, uncertain, as it is dependent on the financial development of business activities in certain countries and regions.We focused on this area because the valuation of deferred tax assets and provisions for income tax positions are subject to significant Management estimates, including Managementâs applied model, data and assumptions.Reference is made to note 5.2 to the Consolidated Financial StatementHow our audit addressed the key audit matter Our audit procedures included considering the appropriateness of the accounting policies and valuation models within the tax accounting area and assessing compliance with applicable IFRS Accounting Standards, in-cluding disclosure requirements.We also assessed Managementâs process for identifying and assessing complex income tax transactions as well as deferred tax assets that might not be recoverable.We tested provisions made for income tax positions. As part of this, we re-viewed correspondence with tax authorities and discussed methods and data applied as well as assumptions made by Management, and assessed whether they are adequate. In doing so, we used our internal corporate tax specialists.Moreover, we tested Managementâs assessment of the recoverability of the carrying value of deferred tax assets arising from temporary differ-ences and tax loss carryforwards on the basis of internal forecasts of future taxable income, and evaluated the assumptions made by Man-agement in this connection.</arr:KeyAuditMattersAudit>
<arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements contextRef="ctx-1" id="s10_notesesefdkgaap__7__187" xml:lang="en">Statement on Managementâs Commentary Management is responsible for Managementâs Commentary. Our opinion on the Financial Statements does not cover Managementâs Commentary, and we do not express any form of assurance conclusion thereon.In connection with our audit of the Financial Statements, our responsibility is to read Managementâs Commentary and, in doing so, consider whether Managementâs Commentary is materially inconsistent with the Financial Statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. Moreover, we considered whether Managementâs Commentary includes the disclosures required by the Danish Financial Statements Act and Article 8 of Regulation (EU) 2020/852 (EU Taxonomy Regulation).Based on the work we have performed, in our view, Managementâs Com-mentary is in accordance with the Consolidated Financial Statements and the Parent Company Financial Statements and has been prepared in accord-ance with the requirements of the Danish Financial Statements Act and the disclosure requirements of Article 8 of Regulation (EU) 2020/852 (EU Tax-onomy Regulation). We did not identify any material misstatement in Man-agementâs Commentary.</arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements>
<arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements contextRef="ctx-1" id="s10_notesesefdkgaap__7__188" xml:lang="en">Managementâs responsibilities for the Financial StatementsManagement is responsible for the preparation of consolidated financial statements and parent company financial statements that give a true and fair view in accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board (âIASBâ) and in accordance with IFRS Accounting Standards as adopted by the EU and further require-ments in the Danish Financial Statements Act, and for such internal con-trol as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.In preparing the Financial Statements, Management is responsible for assessing the Groupâs and the Parent Companyâs ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless Management ei-ther intends to liquidate the Group or the Parent Company or to cease operations, or has no realistic alternative but to do so.</arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements>
<arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed contextRef="ctx-1" id="s10_notesesefdkgaap__7__189" xml:lang="en">Auditorâs responsibilities for the audit of the Financial StatementsOur objectives are to obtain reasonable assurance about whether the Financial Statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorâs report that in-cludes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Financial Statements.As part of an audit in accordance with ISAs and the additional require-ments applicable in Denmark, we exercise professional judgement and maintain professional scepticism throughout the audit. We also: ⢠Identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, design and perform audit pro-cedures responsive to those risks, and obtain audit evidence that is suffi-cient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intention-al omissions, misrepresentations, or the override of internal control;⢠Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circum-stances, but not for the purpose of expressing an opinion on the ef-fectiveness of the Groupâs and the Parent Companyâs internal control;⢠Evaluate the appropriateness of accounting policies used and the rea-sonableness of accounting estimates and related disclosures made by Management;⢠Conclude on the appropriateness of Managementâs use of the going concern basis of accounting and based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Groupâs and the Parent Compa-nyâs ability to continue as a going concern. If we conclude that a mate-rial uncertainty exists, we are required to draw attention in our audi-torâs report to the related disclosures in the Financial Statements or, if such disclosures are inadequate, to modify our opinion. Our conclu-sions are based on the audit evidence obtained up to the date of our auditorâs report. However, future events or conditions may cause the Group or the Parent Company to cease to continue as a going concern;⢠Evaluate the overall presentation, structure and content of the Finan-cial Statements, including the disclosures, and whether the Financial Statements represent the underlying transactions and events in a manner that gives a true and fair view; and⢠Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the Consolidated Financial Statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence and, where ap-plicable, actions taken to eliminate threats or safeguards applied.From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the Financial Statements of the current period and are therefore the key audit matters. We describe these matters in our auditorâs report unless law or regulation precludes public disclosure about the matters.</arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed>
<arr:SignatureOfAuditorsPlace contextRef="ctx-1" id="s10_notesesefdkgaap__7__191" xml:lang="en">Hellerup</arr:SignatureOfAuditorsPlace>
<arr:SignatureOfAuditorsDate contextRef="ctx-1" id="s10_notesesefdkgaap__7__192">2024-02-01</arr:SignatureOfAuditorsDate>
<cmn:NameOfAuditFirm contextRef="ctx-44" id="s10_notesesefdkgaap__7__193" xml:lang="en">PricewaterhouseCoopersStatsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirm>
<cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx-44" id="s10_notesesefdkgaap__7__194" xml:lang="en">33771231</cmn:IdentificationNumberCvrOfAuditFirm>
<cmn:NameAndSurnameOfAuditor contextRef="ctx-44" id="s10_notesesefdkgaap__7__195" xml:lang="en">Lars Baungaard</cmn:NameAndSurnameOfAuditor>
<cmn:DescriptionOfAuditor contextRef="ctx-45" id="s10_notesesefdkgaap__7__199" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
<cmn:DescriptionOfAuditor contextRef="ctx-44" id="s10_notesesefdkgaap__7__196" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
<cmn:IdentificationNumberOfAuditor contextRef="ctx-44" id="s10_notesesefdkgaap__7__197" xml:lang="en">mne23331</cmn:IdentificationNumberOfAuditor>
<cmn:NameAndSurnameOfAuditor contextRef="ctx-45" id="s10_notesesefdkgaap__7__198" xml:lang="en">Kim Tromholt</cmn:NameAndSurnameOfAuditor>
<cmn:IdentificationNumberOfAuditor contextRef="ctx-45" id="s10_notesesefdkgaap__7__200" xml:lang="en">mne33251</cmn:IdentificationNumberOfAuditor>
<arr:AuditorsReportOnXbrlTagging contextRef="ctx-1" id="s10_notesesefdkgaap__7__190" xml:lang="en">Report on compliance with the ESEF RegulationAs part of our audit of the Financial Statements we performed procedures to express an opinion on whether the annual report of DSV A/S for the financial year 1 January to 31 December 2023 with the filename DSV-2023-12-31-en.zip is prepared, in all material respects, in compliance with the Commission Delegated Regulation (EU) 2019/815 on the European Single Electronic Format (ESEF Regulation) which includes requirements related to the preparation of the annual report in XHTML format and iXBRL tagging of the Consolidated Financial Statements including notes. Management is responsible for preparing an annual report that complies with the ESEF Regulation. This responsibility includes:⢠The preparing of the annual report in XHTML format;⢠The selection and application of appropriate iXBRL tags, including exten-sions to the ESEF taxonomy and the anchoring thereof to elements in the taxonomy, for all financial information required to be tagged using judgement where necessary;⢠Ensuring consistency between iXBRL tagged data and the Consolidated Financial Statements presented in human-readable format; and⢠For such internal control as Management determines necessary to enable the preparation of an annual report that is compliant with the ESEF Regulation.Our responsibility is to obtain reasonable assurance on whether the annual report is prepared, in all material respects, in compliance with the ESEF Reg-ulation based on the evidence we have obtained, and to issue a report that includes our opinion. The nature, timing and extent of procedures selected depend on the auditorâs judgement, including the assessment of the risks of material departures from the requirements set out in the ESEF Regulation, whether due to fraud or error. The procedures include:⢠Testing whether the annual report is prepared in XHTML format;⢠Obtaining an understanding of the companyâs iXBRL tagging process and of internal control over the tagging process;⢠Evaluating the completeness of the iXBRL tagging of the Consolidated Financial Statements including notes;⢠Evaluating the appropriateness of the companyâs use of iXBRL ele-ments selected from the ESEF taxonomy and the creation of extension elements where no suitable element in the ESEF taxonomy has been identified; ⢠Evaluating the use of anchoring of extension elements to elements in the ESEF taxonomy; and⢠Reconciling the iXBRL tagged data with the audited Consolidated Financial Statements including notes.In our opinion, the annual report of DSV A/S for the financial year 1 January to 31 December 2023 with the file name DSV-2023-12-31-en.zip is prepared, in all material respects, in compliance with the ESEF Regulation.</arr:AuditorsReportOnXbrlTagging>
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