DSV released a strong set of Q3 2021 numbers across all three of its business divisions, reporting year-on-year EBIT growth for the group of 52.5 percent in the quarter.
Revenue hit USD19.5 billion, up 59.5 percent year on year over Q3 2020. Net profit for the quarter was up 22.4 percent year on year, hitting USD4.2 billion. EBIT before special items stood at USD1.8 billion.
The figures exclude the impact of the acquisition of Agility’s Global Integrated Logistics business, which became a part of DSV in August 2021. DSV said that the integration is going well, and the unit should be fully integrated by Q3 2022.
Jens Bjørn Andersen, group ceo, said: “In August, we completed the acquisition of Agility’s Global Integrated Logistics business and took over a well-run company and were joined by a team of skilled new colleagues. The integration is off to a good start, and in the coming period our two organisations will be merged into one. The transport markets continue to be characterised by disruption and imbalances causing extraordinary challenges for both our customers and us. Under the extraordinary market conditions, we are happy to report solid results across all divisions.”
DSV has also decided to expand its executive board. Jens H. Lund has been group chief financial officer since 2002 and will now take on a new role as group chief operating officer, responsible for development and optimisation of the business, digital strategy, IT operations and the continued strengthening of the DSV’s infrastructure and global network.
Michael Ebbe has been promoted to group chief financial officer.