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2015 a 'good year' for DSV

February 10 - DSV record a net revenue of DKK12.6 billion (USD1.89 billion) in the fourth quarter of 2015, a slight increase compared with the DKK12.53 billion (USD1.88 billion) recorded in the fourth quarter of the previous year.

DSV's air and sea division reported a drop in net revenue, which the company attributed mainly to lower average freight rates; while the road division achieved organic net revenue growth of 3.9 percent.

Gross profit for the reporting period was up 8.2 percent at DKK2.8 billion (USD421 million), with profit for the air and sea division growing by 9 percent and 4.1 percent in the road division.

"2015 was a good year for DSV," said company ceo Jens Bjørn Andersen. "We gained market share across all business segments and delivered strong growth in earnings and cash flow.

"The air and sea division was the main contributor to the growth in earnings, but the road division also delivered a good comeback. 2015 was the year in which we executed on our strategy to grow through acquisitions.

"In January 2016, we obtained the final approval of the acquisition of UTi Worldwide. We now have a major project ahead of us - the merger of two global logistics providers and lifting the UTi earnings to DSV levels."

DSV expects operating profit before special items in 2016 to be in the range of DKK3.1 billion - DKK3.5 billion (USD466 million - USD526 million). The group also expects to see integration costs of around DKK1.5 billion (USD225 million) in relation to the integration of UTi Worldwide.

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