DSV reports growth, market share gains

Danish transport and logistics company, DSV, has achieved strong Q3 performance amid macroeconomic slowdown.

Revenue for Q3 2022 was 60,560 million DKK , while gross profit was 13,538 million DKK.

“We are very pleased to report a strong set of results for Q3 2022 and for the first nine months of the year,” said DSV Group CEO, Jens Bjørn Andersen.

“All three divisions continued the good performance with growth in earnings and market share gains across most of our business areas. The global economic uncertainty has increased, but we have great trust in our flexible business model, which enables us to quickly adapt to changes.”

In the first nine months of the year, gross profit grew by 50 per cent, while EBIT before special items grew 75 per cent and adjusted free cash flow more than quadrupled compared to the same period last year.

Air & Sea achieved an 81 per cent increase in EBIT before special items, Solutions achieved a 104 per cent EBIT increase and Road achieved a 18 per cent EBIT increase, for the first nine months of 2022.

The integration of Agility GIL is now successfully completed. The Q3 results are the first interim financial results to overlap with the integration, which commenced on 16 August 2021.

Global economic uncertainty, according to DSV, has increased, but the company’s flexible business model enables it to quickly adapt to changes.

In other news, US-based company, XPO Logistics, has released preliminary results for its 2022 Q3 earnings as well as its long-term targets.

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