DANISH transport and logistics giant DSV has reported extraordinary growth in its 2021 results.
The company’s revenue grew 59% over the year and its operating profit saw growth of 71%. Its three business segments – air and sea; road; and “solutions” – all contributed to the growth.
The company’s earnings before interest and tax (EBIT), before special items, for 2021 was DKK 16.2 billion ($3.5 billion). This was slightly above the guidance range of DKK 15.25 billion-16 billion ($3.3 billion-$3.4 billion).
Looking forward, the company said it expects a 2022 EBIT before special items in the range of DKK 18 billion-20 billion ($3.85 billion-$4.3 billion).
DSV group CEO Jens Bjørn Andersen said 2021 had been a good but challenging year for the company.
“With the acquisition of Agility’s Global Integrated Logistics business (GIL), we have once again executed on our growth strategy. We are proud that GIL is now part of DSV, and the integration is progressing well,” Mr Andersen said.
“Supply chain disruptions, port congestion and record-high freight rates have been major themes during 2021, and our teams have worked hard to find solutions and move the cargo for our customers. Under these difficult market conditions, we are pleased to deliver a strong set of financial results for 2021.”
In its yearly results report DSV said it had progressed the development of physical infrastructure with new logistics centres in Europe, southern Africa and North America.
The company said it expects the current situation with congestion, tight capacity and high rate levels will continue well into 2022. A gradual reduction of the congestion could start in the second half of the year.
