After the successful integration of UTi Worldwide, DSV says consolidation and merger and acquisitions (M&A) remain on its agenda for 2018.
Jens Bjørn Andersen, DSV ceo, said: "In 2017, DSV's share price increased by 56 percent and we are satisfied that we have created value for the shareholders and achieved our ambitions with the acquisition of UTi Worldwide.
"By the second half of 2017, we accelerated beyond integration mode and started to perform above market level in terms of organic growth in freight volumes."
A strong cash flow of DKK4.84 billion (USD796.6 million) enabled DSV to reduce its debt and re-instigate its share buyback programme.
He continued: "As far as markets go, 2017 was the best year since the recession years of 2008-2009. And despite warnings of possible geopolitical disturbances, protectionism and disruption, none of these negatively impacted the upturn in the market in 2017 to any significant degree."
In 2018, DSV says it will start thinking more seriously about further M&A opportunities.
"In the past, acquisitions have added great value to the DSV business as well as to our shareholders, so it is a given that M&A will continue to be an active part of our strategy for growth," said Andersen.
