Panalpina Q1 EBIT falls 7.4% for air segment on heels of DSV purchase

Today, Panalpina released its first-quarter results for 2019, following its recent acquisition by its fellow-Swiss rival DSV, in which it delivered double-digit growth in operating profit of 15% to $US28.1 million, year-over-year. However, performance was a bit less eye-popping when breaking down the results segment by segment. Its Air Freight segment saw volumes increase by […]
  • Nina Chamlou
  • April 17, 2019

DSV is building its biggest Northern European hub [VIDEO]

Danish forwarding giant DSV said it is building what will be its largest hub in Northern Europe, to serve as a gateway to the rest of Scandinavia. This news follows the inking of a new deal to purchase its Switzerland-based competitor, Panalpina, for US$4.6 billion earlier this month.  The first of four planned facilities, which […]
  • Nina Chamlou
  • April 11, 2019

DSV to purchase Panalpina for US$4.6 billion in blockbuster deal

After weeks of speculation over the future of Panalpina’s ownership, Denmark’s DSV today reached an agreement to purchase its Swiss rival for US$4.6 billion – a merger that will create one of the world’s largest logistics companies, and appears to end the possibility of a merger with the Agility Group The board of directors at […]
  • Nina Chamlou
  • April 1, 2019

Panalpina ‘in discussions’ with Agility, mulling over DSV’s revised offer

After several days of industry speculation about mergers and acquisitions (M&A) activity in the freight forwarding sector, the pas de deux between Panalpina and DSV A/V just got more complicated by a third party that has been added to the dance card: Agility Global Logistics. In a short statement today, the Swiss forwarder acknowledged that […]
  • Randy Woods
  • February 15, 2019

DSV reports double-digit increases in profits in 2018, above market averages

The DSV Group released its annual results for 2018 today, in which the Danish logistics giant reported an impressive growth rate in operating profit, or earnings before interest and taxes (EBIT), of about 12 percent during both the fourth quarter and the full year. EBIT for Q4 was about US$204 million and $829 million for […]
  • Nina Chamlou
  • February 7, 2019

CEVA’s preliminary results for 2018 point to future growth, reduced debt

Calling 2018 a year rocked by “structural changes” and activity to deleverage debt, CEVA Logistics AG released preliminary results on Monday for the year ended Dec. 31, 2018, suggesting that revenues grew during the year, albeit not quite as strongly as the revenues from the previous year. CEVA’s full 2018 results are not expected to […]
  • Randy Woods
  • February 5, 2019

Panalpina’s largest shareholder rejects DSV takeover bid

Today, Panalpina’s largest shareholder, the Ernst Göhner Foundation, said it does not support the non-binding proposal from Denmark-based rival DSV to purchase the Swiss forwarding giant. About two weeks ago, Panalpina’s board said that “according to its fiduciary duties,” it would review the proposal with its professional advisers. The offer, which was released on Jan. […]
  • Nina Chamlou
  • February 4, 2019

Panalpina confirms DSV takeover bid for US$4 billion

This morning, the Panalpina board of directors confirmed that it had received an unsolicited, non-binding proposal from Danish logistics rival DSV to purchase the Swiss forwarding giant.  The offer was for CHF170 per share, from a combination of cash and DSV shares, adding up to about US$4 billion. The board stated that “according to its […]
  • Randy Woods
  • January 16, 2019

DSV to begin expansion of logistics facilities at Danish headquarters

Danish logistics giant DSV is set to break ground on a logistics facility expansion at its headquarters in the Roskilde-Hedehusene-Taastrup area, about 25 miles west of Copenhagen, which it said is “just the beginning” of a wider expansion plan, set to be completed over the next five years. The project will include the construction of […]
  • Nina Chamlou
  • January 2, 2019

DSV Canada breaks ground on its largest facility ever

DSV Canada, subsidiary of Danish logistics company DSV, has broken ground on a 1.1-million-square-foot facility in Milton, Ontario, which will serve as a multi-client warehousing facility supporting its air, sea and road divisions, and will be home to its head office in Canada. The company’s managing director, Martin Roos, said, “the new facility in Milton […]
  • Nina Chamlou
  • November 28, 2018

DSV rescinds second offer to acquire CEVA before CEVA can respond

Today, Danish logistics company DSV has rescinded its second offer to acquire CEVA Logistics before it ever received a response from CEVA. “Based on the unwillingness of the board of directors of CEVA to engage directly with DSV at the price per share offered,” DSV said in a statement that the offer had been withdrawn. […]
  • Nina Chamlou
  • October 23, 2018

CEVA board rejects takeover bid from DSV as ‘inadequate’

Yesterday, after Danish logistics firm DSV made an unsolicited, non-binding acquisition bid to CEVA Logistics AG, the CEVA board of directors unanimously rejected the offer of roughly US$28 per share in cash, saying that the bid – totaling about $1.5 billion – was “not in the best interest of the company and its shareholders.” The […]
  • Randy Woods
  • October 12, 2018

DSV acquires fulfillment company S&H, CEO Elshout steps down

Today, Danish freight-forwarder DSV acquired Netherlands-based fulfillment company, S&H, purchasing 100 percent of the company’s shares. In the same statement, DSV said that CEO Hans Elshout has stepped down from his position. In the deal, S&H will remain a distinct unit under DSV’s umbrella, but will take the name DSV Multi-channel Fulfilment. CEO of DSV’s […]
  • Nina Chamlou
  • September 4, 2018

DSV continues solid air cargo growth into 2018

Denmark-based transport and logistics company DSV released its second-quarter financial results for 2018, which show it has sustained continued strong growth following a record-breaking 2017 year. The company experienced varied growth in each of its segments during Q2. Looking specifically at airfreight within the Air & Sea division, gross profit grew 16 percent (including exchange […]
  • Nina Chamlou
  • August 1, 2018
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