Integration the key to success at DSV Panalpina
The integration of Panalpina into DSV proved to be the all-important event of Q3, according to the group CEO. Releasing third quarter results, group CEO Jens Bjorn Andersen says the integration on 19 August has started well, and cost synergies are underway. About 5% of the 2.3 billion kroner of cost synergies are expected in […]
DSV Panalpina is ready for business
DSV has completed the acquisition of Panalpina today (Monday 19 August), with the Danish forwarder changing its name to DSV Panalpina. The integration of the Danish and Swiss companies is expected to take two to three years, and combining the two will have a workforce of 60,000 employees in 90 countries. Kurt Kokhauge Larsen will […]
Panalpina board to resign, DSV to take over
All current members of Panalpina’s board of directors will resign as the settlement of the public exchange offer by DSV. At the Extraordinary General Meeting on 16 July, it will be proposed that four nominated executives from DSV are elected to Panalpina’s board of directors. Kurt Larsen will be elected member and chairman of the […]
DSV to pursue mergers and acquisitions
Gross profits at DSV grew by 9.9% in the fourth quarter of 2018, with the CEO saying the company will pursue mergers and acquisitions. Fourth quarter profits hit 4.4 billion krone, with the air & sea division growing 10.4% to 897 million krone, and road by 4.6% to 239 million krone both driven by higher […]
DSV reports stronger set of results than previously forecasted
Higher than expected business performance in both air cargo and sea freight have led to more upbeat results at Danish freight forwarder DSV. The company reported in its financial figures for the period from 1 January to 30 September, that operating profit before special items is expected to be in the range of DKK 4,700-4,900 […]
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 […]
DSV restructures management team
Freight forwarder DSV has appointed two new divisional chief commercial officers (CCO) to “further develop our commercial activities and customer relationships”. The new team of divisional CCOs are for DSV Air & Sea Holding, Michael D. Hansen; DSV Road Holding, Wilbert Tholhuijsen; DSV Solutions, Meinderdjan Botman; and DSV Sub Saharan Africa, Jenny Purchase. All DSV divisions and Sub Saharan Africa now have a […]