Danish transport and logistics company, DSV, has reported strong financial results after good performance across all business areas last year.
In 2022, DSV’s gross profit increased by 33 per cent, from €5,053 to €7,005.
EBIT before special items grew by 48 per cent to €3,386, and adjusted free cash flow more than doubled compared to 2021.
DSV reported an increased revenue of €31,656, from €24,489.
DSV’s Air & Sea division achieved a 53 per cent increase in EBIT before special items, Solutions achieved a 47 per cent EBIT increase, and Road achieved a nine per cent EBIT increase for 2022.
DSV Group CEO, Jens Bjørn Andersen, said DSV delivered a strong set of financial results for 2022.
“We achieved EBIT growth of 48 per cent and a strong cash flow, driven by good performances across all divisions,” he said.
“2022 was an eventful year, and I know that our teams across the organisation have worked hard to support our customers as they navigated extremely volatile freight markets and geopolitical unrest.
“We also enhanced our climate ambitions and have committed to a net-zero target for CO2 emissions by 2050.”
Despite the company’s growth, Anderson said the performance of DSV’s three divisions was impacted by the ‘general macroeconomic slowdown’ and the ‘gradual normalisation of freight markets’ towards the end of the year.
“We expect this trend will continue into 2023 and this is reflected in our financial guidance,” he said.
According to DSV, its aim of taking market share across all divisions remains intact.
The company will monitor activity closely across the organisation and adjust its capacity accordingly.
Earlier this year, DSV announced that it is doubling the lifecycle of 1,100 trailers as part of a circular economy initiative.
In other news, Schmitz Cargobull has ranked highly in a new survey of the used truck and trailer market in 2022.