DSV sees Q1 profits rise, expects Panalpina deal to close in Q3 | Air Cargo World
Air Cargo World

No products in the cart.

Subscribe
  • News
  • Data & Tools
  • Events
    • Air Cargo Tech Summit
    • 2022 Webinar Series
    • Past Webinars
  • Podcasts
  • Magazine
  • Archives
Monday, June 27, 2022
Log In
No Result
View All Results
  • Airports
  • Carriers
  • E-Commerce
  • Express
  • Freight Forwarders
  • Technology
Air Cargo World
  • News
  • Data & Tools
  • Events
    • Air Cargo Tech Summit
    • 2022 Webinar Series
    • Past Webinars
  • Podcasts
  • Magazine
  • Archives
Log In
No Result
View All Results
Air Cargo World
No Result
View All Results

DSV sees Q1 profits rise, expects Panalpina deal to close in Q3

Randy Woods by Randy Woods
April 30, 2019
in All Posts, Cargo Traffic, Freight Forwarders, News
Reading Time: 1 min read
0
Share on FacebookShare on TwitterShare on LinkedIn

Danish forwarding giant DSV, which announced earlier this month that it was purchasing Swiss rival Panalpina, released its first-quarter results today, reporting a 5% growth in airfreight volumes, compared to the previous Q1, reaching 170,000 tonnes, due mostly to a rise in exports to the Americas during the quarter.

Gross profit in the air segment also rose by 11.6% to US$184.8 million, and very strong 20.5% growth in earnings before interest and taxes (EBIT) to $150 million, with “a focus on controlled cargo,” DSV said. Meanwhile, DSV Group revenues were up 8.7%, y-o-y, to just over $3 billion.

“The freight and logistics markets have been characterized by a relatively weak start to 2019, especially for airfreight where estimated market volumes were down 1%,” DSV said. “Under these market conditions, DSV has performed well and gained market share across all business segments.”

“We delivered strong results in Q1 2019, with healthy top-line growth across all divisions and a 15% underlying growth in EBIT,” said Jens Bjørn Andersen, CEO of DSV Group. The performance, he added, “fully lived up to the expectations for 2019 originally published.”

Andersen also noted that the $4.6 billion with Panalpina is expected to close end of the third quarter this year. “However, to facilitate the listing of new shares for the exchange offer to the shareholders of Panalpina, DSV withdraws its outlook for 2019 effective as of today,” Andersen said. “We expect to publish a new financial outlook once the combination with Panalpina is completed.”

DSV also said in its Q1 report that the United States-China tariff issue “had impacted global growth rates,” but said its exposure to the trade lane was only about 10% of air and sea volumes. Meanwhile, it added that the continuing unresolved Brexit situation was also causing uncertainty and was negatively affecting European Union growth.

Tags: DSVJens Bjorn AndersenPanalpinaquarterly results
Previous Post

CEVA begins new era under CMA CGM with Q1 drop in air volume

Next Post

New Chongqing-Addis Ababa routes to support China-Ethiopia cargo ops

Related Posts

Battery shipping loophole exposed by FedEx fire, NTSB warns
Specialty Cargo

Some carriers opt out of handling lithium batteries

June 24, 2022
8 US airports undergoing major cargo facility upgrades in 2021
Carriers

Consultant Insight: FedEx credits strong revenue management for Q4 earnings

June 24, 2022
Data transparency to drive sustainability efforts
Technology

Data transparency to drive sustainability efforts

June 24, 2022
Cargo Traffic

Capacity into China improves, but where is the demand?

June 23, 2022
View of a freighter main deck
Cargo Traffic

Charter broker Air Partner weighs in on charter market, anticipates rate rise

June 23, 2022
DHL Global Forwarding to establish European hub at FRA
Freight Forwarders

DHL Global Forwarding to establish European hub at FRA

June 23, 2022
Amazon’s Prime Air drone delivery service set to take off
Technology

Amazon’s Prime Air drone delivery service set to take off

June 22, 2022
New security system brings changes to EU imports
Technology

Chartersync to enhance charter e-booking solution

June 22, 2022
Airfreight stakeholders eye warehouse expansion, automation across the globe
Airports

Airfreight stakeholders eye warehouse expansion, automation across the globe

June 22, 2022
Next Post
Ethiopian Cargo and Logistics Services launches online cargo booking

New Chongqing-Addis Ababa routes to support China-Ethiopia cargo ops

FROM OUR CONTRIBUTORS

8 US airports undergoing major cargo facility upgrades in 2021

Consultant Insight: FedEx credits strong revenue management for Q4 earnings

June 24, 2022
United Airlines launches Eco-Skies Alliance program for sustainable fuel use

Consultant insight: Air cargo market strives to address sustainability

June 17, 2022
Forwarder’s Forum: Storm warning ahead: Airfreight demand expected to surge as manufacturing resumes in China

Forwarder’s Forum: Storm warning ahead: Airfreight demand expected to surge as manufacturing resumes in China

June 10, 2022

SPONSORED

Singapore Changi Airport: Taking your Pharma Business Further - Image 2

Singapore Changi Airport: Taking your pharma business further

November 9, 2021
ULD

CODEX by Virtual Control fills gaps in cold-chain shipment visibility

July 2, 2021
Digitizing the ULD transfer process and protecting shipments with Virtual Control

Digitizing the ULD transfer process and protecting shipments with Virtual Control

May 14, 2021
  • About Us
  • Help Center
  • Privacy Terms
  • ADA Compliance
  • Advertise

 Manage Cookie Consent

Follow Us

twitter twitter linkedin podcast

© 2022 Royal Media & Air Cargo World

No Result
View All Results
  • News
    • All News
    • Airports
    • Carriers
    • E-Commerce
    • Express
    • Freight Forwarders
    • Technology
  • Data & Tools
  • Events
    • Air Cargo Tech Summit
    • 2022 Webinar Series
    • Cargo Facts EMEA
    • Cargo Facts Symposium
    • Cargo Facts Asia
  • Webinars
  • Podcasts
  • Magazine
  • Archives
  • Subscribe Test
  • Log In / Account

© 2022 Royal Media & Air Cargo World

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Powered By MemberPress WooCommerce Plus Integration
THIS WEBSITE USES COOKIES

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “I CONSENT”, you consent to the use of ALL the cookies.

Cookie settingsI CONSENT

Review our Cookie Policies
.
Manage Cookie Consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
34f6831605sessionGeneral purpose platform session cookie, used by sites written in JSP. Usually used to maintain an anonymous user session by the server.
a64cedc0bfsessionGeneral purpose platform session cookie, used by sites written in JSP. Usually used to maintain an anonymous user session by the server.
AWSALBCORS7 daysThis cookie is managed by Amazon Web Services and is used for load balancing.
cf_use_obpastCloudflare sets this cookie to improve page load times and to disallow any security restrictions based on the visitor's IP address.
cookielawinfo-checkbox-advertisement1 yearSet by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Advertisement" category .
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
CRAFT_CSRF_TOKENsessionThis cookie is set by the provider Craft CMS. This cookie is used for the purpose of website security that is Cross-Site-Request forgery prevention whenever a form is used.
crmcsrsessionGeneral purpose platform session cookie, used by sites written in JSP. Usually used to maintain an anonymous user session by the server.
JSESSIONIDsessionThe JSESSIONID cookie is used by New Relic to store a session identifier so that New Relic can monitor session counts for an application.
LS_CSRF_TOKENsessionCloudflare sets this cookie to track users’ activities across multiple websites. It expires once the browser is closed.
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
CookieDurationDescription
_zcsr_tmpsessionZoho sets this cookie for the login function on the website.
663a60c55dsessionThis cookie is related to Zoho (Customer Service) Chatbox
bcookie2 yearsLinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID.
bscookie2 yearsLinkedIn sets this cookie to store performed actions on the website.
e188bc05fesessionThis cookie is set in relation to Zoho Campaigns
iamcsrsessionZoho (Customer Support) sets this cookie and is used for tracking visitors (for performance purposes)
langsessionLinkedIn sets this cookie to remember a user's language setting.
li_gc2 yearsLinkedIn uses to store consent of guests regarding the use of cookies for non-essential purposes
lidc1 dayLinkedIn sets the lidc cookie to facilitate data center selection.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
CookieDurationDescription
AWSALB7 daysAWSALB is an application load balancer cookie set by Amazon Web Services to map the session to the target.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
CookieDurationDescription
_ga2 yearsThe _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors.
_gid1 dayInstalled by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously.
CONSENT2 yearsYouTube sets this cookie via embedded youtube-videos and registers anonymous statistical data.
vuid2 yearsVimeo installs this cookie to collect tracking information by setting a unique ID to embed videos to the website.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
CookieDurationDescription
_dc_gtm_UA-1038974-181 minuteUsed to help identify the visitors by either age, gender, or interests by DoubleClick - Google Tag Manager.
_fbp3 monthsThis cookie is set by Facebook to display advertisements when either on Facebook or on a digital platform powered by Facebook advertising, after visiting the website.
fr3 monthsFacebook sets this cookie to show relevant advertisements to users by tracking user behaviour across the web, on sites that have Facebook pixel or Facebook social plugin.
VISITOR_INFO1_LIVE5 months 27 daysA cookie set by YouTube to measure bandwidth that determines whether the user gets the new or old player interface.
YSCsessionYSC cookie is set by Youtube and is used to track the views of embedded videos on Youtube pages.
yt-remote-connected-devicesneverYouTube sets this cookie to store the video preferences of the user using embedded YouTube video.
yt-remote-device-idneverYouTube sets this cookie to store the video preferences of the user using embedded YouTube video.
yt.innertube::nextIdneverThis cookie, set by YouTube, registers a unique ID to store data on what videos from YouTube the user has seen.
yt.innertube::requestsneverThis cookie, set by YouTube, registers a unique ID to store data on what videos from YouTube the user has seen.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
CookieDurationDescription
34f6831605sessionGeneral purpose platform session cookie, used by sites written in JSP. Usually used to maintain an anonymous user session by the server.
ig_putmasessionNo description
Save & Accept
Powered by CookieYes Logo
Go to mobile version