Independent journal on economy and transport policy
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LOGISTICS
DSV reports declining quarterly performance, but expects demand to increase gradually
The logistics company has archived the period April-june with a profit clearly of almost 3,4 billion Danish crowns (- 33.4%)
Hedehusene
July 25, 2023
As well as the other leading European logistics group
Kuehne+Nagel
(
of 25
July 2023), Denmark's DSV also closed the first half of the year, and
Second quarter of this year with financial results
significantly lower than in the corresponding periods of 2022,
However, recording growth compared to performance
before the Covid-19 pandemic and also compared to the 2020s
and 2021 when the health crisis, at its peak, had as
Effect a sharp increase in the economic results of companies that
operate in the same fields of activity as DSV.
In the second quarter of this year, DSV's revenues were
amounted to DKK 37.7 billion (EUR 5.1 billion),
with decreases of -39.9% on the same period of 2022 and -0.3%
on the same period of 2021 and with increases of +31.1% on the second
quarter of 2020 and +87.9% on the second quarter of 2019. The
air freight forwarding activities alone generated equal revenues
to 12.2 billion crowns (respectively -51.4%, -14.3%, +0.9% and
+166.6%), shipping to 10.7 billion (-51.3%,
-7.9%, +52.8% and +111.5%), shipping activities via
road to 9.6 billion (-10.9%, +11.4%, +38.1% and +23.2%) and the other
logistics activities Revenues of SEK 5.9 billion
Danes (-4.6%, +47.6%, +81.1% and +87.4%). EBITDA was
6.0 billion crowns (-30.8%, +32.5%, +64.3% and +146.7%) and profit
operating of €4.7 billion (-36.9%, +31.8%, +80.1% and +188.5%), with a
contribution of 3.6 billion from sea and air shipments (-42.0%,
+25.7%, +69.2% and +227.0%), of 525 million from road shipments
(-7.2%, +10.3%, +99.6% and +55.3%) and 613 million crowns from
other logistics solutions (-18.6%, +120.5%, +162.0% and +209.8%). DSV
closed the period April-June 2023 with a net profit
of almost DKK 3.4 billion (-33.4%, +33.6%, +142.8% and
+193,7%).
In the second quarter of this year the volume of shipments
Aircraft handled by the group was 316 thousand tons
(-21.4%, -9.4%, +10.1% and +85.8%) and that of sea shipments of
642 thousand container teu (- 7.1%, +12.0%, +25.3% and +64.0%).
In the entire first half of 2023, revenues totalled
SEK 78.7 billion, with percentage changes respectively
-36.5%, +10.1%, +40.3% and +96.4% on the first six months of 2022,
2021, 2020 and 2019. EBITDA was 12.0 billion (-27.0%,
+39.7%, +90.8% and +154.3%), operating profit of 9.4 billion
(-32.8%, +41.3%, +124.4% and +204.0%) and net profit of €6.7 billion
of Danish kroner (-29.5%, +37.2%, +287.1% and +215.4%). In the first six
months of this year the volumes of shipments made areas were
pairs to 644 thousand tons (- 20.8%, -6.0%, -0.5% and +89.2%) and those
of shipments sea to more than 1,2 million container teu
(-9.4%, +6.6%, +13.1% and +63.7%).
Regarding the future prospects, the CEO of
DSV, Jens Bjørn Andersen - announcing results today
achieved in the first half of 2023 - noted that "the
Market development is still uncertain, although we find
signs of stabilisation and we expect to be in the coming quarters
a gradual improvement in world traffic volumes".
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