DSV delivers growth in profit for the first half of 2014

Today we have released our financial report that covers the period 1 January - 30 June 2014.

Jens Bjorn Andersen, CEO: "We maintained the positive growth trend in number of shipments in all our business areas in the second quarter of 2014. We are gaining market share in a highly competitive market and are seeing a positive development in both earnings and cash flow despite an adverse currency effect. The earnings growth owes to our global air and sea freight activities, which reported top line growth and increased productivity. The European road freight and contract logistics markets are characterised by fierce price competition, which had an impact on our earnings in these business areas. The development in earnings and cash flow shows that the streamlining and cost management initiatives we have launched in 2014 were well-timed and will help fortify DSV’s position among the most profitable global providers of freight forwarding services. We still see good possibilities for growth, both organically and through acquisitions."

DSV maintains its full-year outlook for 2014 previously announced. However, operating profit before special items is expected to be in the range of DKK 2,550 - 2,700 million against the previous outlook of DKK 2,500 - 2,700 million.

Read the financial report here (PDF)