HIGHER year-on-year first quarter earnings were driven by lucrative air and sea divisions, logistics company DSV has reported.
The Danish company has just released its first quarter financials, with gross profit improving by 6.2% and earnings before interest and text (EBIT) 4.8% higher compared with the same period last year.
“The earnings growth was driven by improved gross profit, especially in air and sea,” the company reported.
The full-year 2025 guidance has been upgraded to DKK 19.5bn to 21.5bn from DKK 15.5bn to 17.5bn, reflecting the recent acquisition of Schenker, a business previously operated by Deutsche Bahn.
One Danish krone is currently worth about 25 Australian cents.
Group chief executive Jens H. Lund said he was “pleased with the positive financial performance and higher earnings growth during the first quarter of 2025 despite the current market uncertainties related to global trade”.
“Our performance confirms the strength and flexibility of our business model and our ability to support our customers’ global supply chains, and we have seen continued positive contribution from our commercial focus,” Mr Lund said.
“The completion of the Schenker transaction and the upcoming integration mark a significant milestone in our growth strategy, which, combined with our continued strong commercial focus on organic growth and a flexible business model, will support our continued performance amid volatile and uncertain market conditions.”
According to DSV, the Schenker acquisition was “the largest transaction in [our] history, significantly enhancing its global network, expertise, and competitive edge across all three divisions”.
“With the completion of the acquisition of Schenker, we have reached a milestone in the history of DSV,” Mr Lund said.
“With this acquisition, we become a world-leading player in global transport and logistics.
“By combining the two companies we will create a unique flexible platform for long-term financial growth to the benefit of our customers, employees, shareholders and other stakeholders.”
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