Friday, June 14, 2024
Strong volumes growth for DSV in first half of 2017

Strong volumes growth for DSV in first half of 2017

Danish freight forwarder DSV’s airfreight volumes grew year-on-year (YOY) by 10.4 per cent in the first half of this year to 302,869 tonnes, but second quarter (Q2) volumes were only up 2.6 per cent to 155,430 tonnes – lower than its competitors.

These growth rates compare with the market average of 10 per cent in Q2 and eight per cent in the first half of 2017.

Adjusted gross profit for the airfreight sector at DSV was 2,105 million Danish Krone (DKK)($335 million) in the 1st half of the year and 1,072 million DKK in Q2, up 12.5 per cent and four per cent, respectively.

The Air & Sea division saw net revenue of 17,343 million DKK, up 12.1 per cent in the 1st half of this year and for Q2 it was 8,873 million DKK, up 5.4 per cent on Q2 last year.

Across the whole business, DSV saw net revenue for the first half of 2017 rise to 37,147 million DKK, a 12.8 per cent rise on the 32,925 million DKK in the same period in 2016. Gross profit was 8,437 million DKK, up 7.9 per cent on the 7,821 million DKK last year.

The forwarder has been integrating US forwarder UTi into the business with the final parts set to be completed this year.

DSV chief executive officer, Jens Bjørn Andersen says: “With more than 50 per cent growth in earnings and cash flow we are very satisfied with the Group’s performance in the first half of 2017. Only 18 months after the acquisition of UTi Worldwide, our productivity and financial results are at an all-time high.

“On the back of a strong start to 2017, we upgrade our expectations for the year and start a new share buyback programme of one billion DKK.”

Picture of James Graham

James Graham

James Graham is an award-winning transport media journalist with a long background in the commercial freight sector, including commercial aviation and the aviation supply chain. He was the initial Air Cargo Week journalist and retuned later for a stint as editor. He continues his association as editor of the monthly supplements. He has reported for the newspaper from global locations as well as the UK.

Newsletter

Stay informed. Stay ahead. To get the latest air cargo news and industry trends delivered directly to your inbox, sign up now!

related articles

AFKLMP partners with Dutch Brunel Solar Team for 2024 Sasol Solar Challenge in South Africa

ACE and Budapest Airport connected to present an Air Cargo Logistics Event in Budapest

Airbus appoints new Acubed CEO and head of research and technology in North America