DSV leverages extraordinary market conditions

Danish transport and logistics company, DSV, is releasing a strong set of Q3 2021 numbers across all three divisions.

The solid results are illustrated by an EBIT growth for the Group of 52.5 per cent in Q3 2021 compared to the same period last year – excluding the impact of the acquisition of Agility’s Global Integrated Logistics business.

DSV is reporting good progress in the integration of Agility’s Global Integrated Logistics business, which became part of DSV in August 2021. The operational integration is expected to be fully completed by Q3 2022.

“In August, we completed the acquisition of Agility’s Global Integrated Logistics business and took over a well-run company and were joined by a team of skilled new colleagues. The integration is off to a good start, and in the coming period our two organisations will be merged into one,” said DSV Group CEO, Jens Bjørn Andersen.

“The transport markets continue to be characterised by disruption and imbalances causing extraordinary challenges for both our customers and us. Under the extraordinary market conditions, we are happy to report solid results across all divisions.”

For the reported period, DSV achieved a revenue of 49,557 million DKK, gross profit of 9,823 million DKK and operating profit of 4,472 million DKK.

In another company announcement, DSV is announcing an expansion of the Executive Board. Jens H. Lund will now take on a new role as Group COO and Deputy Group CFO Michael Ebbe is appointed new Group CFO.

“We are strengthening the Executive Board to secure our continued ability to grow and develop our company at a high pace,” said DSV Chairman of the Board of Directors, Thomas Plenborg.

“At the same time, we ensure continuity in the management team. During the last almost 20 years, Jens Lund has been a fantastic Group CFO and has played an important role in the development of DSV.

“With his broad knowledge of the company and the logistics industry, Jens is the right person to head up areas as the continued development of our IT platform and optimisation of our business.

“Michael Ebbe has a long history with DSV and he has a strong cooperation with Jens Bjørn, Jens and the rest of the Executive Committee. In the Board of Directors, we are confident that Michael will continue to deliver high quality reporting and drive further progress in DSV.”