Q2 results: Strong performance in all three divisions

Today's highlights:

• The DSV Group achieved strong Q2 2024 results in line with expectations, with a decline in gross profit of 4.0% and a 12.4% decline in EBIT before special items compared to the same period last year. The financial results reflect a strong performance with further market share gains in all three divisions despite a competitive market.
• Sequentially, comparing Q2 2024 to Q1 2024, the DSV Group achieved nominal growth throughout Q2 2024 in EBIT before special items of 12.6% driven by increasing volumes and stabilisation of earnings per unit in Air & Sea.
• Solid adjusted free cash flow for Q2 2024 was impacted by higher net working capital due to increased activity and higher freight rates throughout the quarter.
• Based on our strong performance in the first half year and outlook for the second part of the year, we are narrowing the full-year 2024 EBIT guidance to DKK 15,500-17,000 million.

Group CEO Jens H. Lund:

In a challenging environment, we delivered a strong financial performance in Q2 2024 driven by positive volume growth and stabilisation of earnings per unit in Air & Sea division. We continue to gain market share across all three divisions driven by our strengthened commercial platform. Furthermore, we have increased our productivity in all three divisions.”

Read the Q2 company announcement.