In 2022, DSV‘s gross profit increased by 33%, while EBIT before special items grew by 48%, and adjusted free cash flow more than doubled compared to 2021.
Air & Sea segment achieved a 53% increase in EBIT before special items, the Solutions segment achieved a 47% EBIT increase, and the Road segment achieved a 9% EBIT increase for 2022. Towards the end of 2022, the performance of DSV’s three divisions was impacted by the general macroeconomic slowdown and the gradual normalisation of freight markets.
Additionally, DSV completed the integration of Agility GIL within a year of the acquisition, and Mergers & Acquisitions remain an important part of DSV’s strategy.
Regarding sustainability, DSV has raised its ambitions and is committed to reaching net-zero carbon emissions across its operations by 2050.
The 2023 outlook assumes a global economic growth of 2-3% in 2023 – with the lowest growth rates in the advanced economies. DSV would usually expect transport volumes to grow in line with the economy. However, volumes declined more than GDP in the second half of 2022 due to reduced inventory levels and the normalisation of consumer behaviour after COVID-19. DSV expects this negative development in freight volumes to continue in the first part of 2023 but with a recovery in the year’s second half.
SUBSCRIBE TO LOGISTICS BRIEFING:
Get the latest logistics news and high level analysis delivered straight to your inbox: