DSV to pursue mergers and acquisitions

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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 transport volumes and improved profit per shipment.

The solutions saw gross profits increase 15.6% to 223 million krone due to a higher activity level.

Revenue increased 10.6% in the fourth quarter to 20.9 billion krone, with airfreight volumes growing 5%, sea freight by 4% and road transport by 2%.

CEO Jens Bjorn Andersen says: “We are on track to meet our 2020 financial targets and 2018 demonstrates our dedication to delivering quality services to our customers and growing organically. In line with our strategy, we are actively pursuing M&A opportunities and we believe that the right transactions can create value for all stakeholders.”

Full year revenue was 79 billion krone with operating profit growing 15% to 5.4 billion krone, and airfreight operating profit up from 3.2 billion in 2017 to 3.7 billion krone in 2018.