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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