DSV reports growth from Air & Sea through 2014

DSV has announced its financial results for the full year and fourth quarter of 2014. For the full year the company recorded revenue of DKK48.58bn, an increase of 6.28% on the prior year’s result. It also reported operating profit of DKK2.62bn, a rise of 2.92% year-on-year. Accordingly the DSV’s margin stood at 5.39%.

For Q4 2014 net revenue amounted to DKK12.54bn, representing growth of 5.74% year-on-year. The increase was attributable to the Air & Sea division in all essentials. All divisions reported freight volume growth above the market in Q4 and delivered 8% growth in air freight, 7% in sea freight, 5% growth in road consignments and 7% growth in order lines.

Operating profit before special items was DKK649m for Q4, a year-on-year decline of 3.42% and thus lower than the first three quarters of the year. The decline was mainly attributable to the stagnating gross profit of the Road division. Air & Sea and Solutions both reported growth in operating profit for Q4 2014 on the same period of 2013.  

Jens Bjørn Andersen, Chief Executive Officer of DSV said, “2014 was a good year for DSV in many respects. We grew with our customers – existing as well as new – and we gained market share in all business areas. Not least, we delivered results in line with the expectations announced at the beginning of the year. The Air & Sea division was the main contributor to the growth in earnings, whereas the Road division was affected by the ever present intense competition in our industry. We have a promising outlook for 2015; the investments we have made over the past couple of years to increase our productivity give us a solid basis for harvesting the best results from global market growth.”


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