Freight forwarding giant DSV saw a drop in profits in 2024
On February 4, freight forwarding giant DSV announced its 2024 results and said the results were solid and in line with expectations.
In 2024, DSV achieved revenue of DKK 167.106 billion (~ USD 23.244 billion), an increase of 11.7%. Profit before interest, tax and special items (EBIT) was DKK 16.096 billion (USD 2.239 billion), down 8.4% year-on-year.
In the air and sea segment, the revenue in 2024 was DKK 104.496 billion (about US $14.535 billion), an increase of 14.0%. EBIT was 11.888 billion Danish kroner ($1.654 billion), down 9.9% year on year. During the same period, DSV seagoing volume was 2.686 million TEU, up 6.6% year-on-year.
In 2024, DSV spent 14.3 billion euros (about $15.86 billion) to acquire another freight forwarding giant, DB Schenker.
DSV revealed in the results report that the acquisition of DB Schenker will be completed in the second quarter of 2025, and after the strategic integration of the two sides, the market share will reach 6% to 7%, which is expected to surpass DHL and Kuehne + Nagel and become the core leader of the freight forwarding industry. At the same time, the combined company will have revenues of more than DKR 300 billion ($41.73 billion), annual sea traffic of more than 4 million TEU and air traffic of about 2.5 million tons.
For the development prospects, DSV said that it will continue to provide efficient and reliable services to customers in the case of tight supply chains through continuous network expansion and focus on the development of LCL (less than container load) business.
In 2024, DSV achieved revenue of DKK 167.106 billion (~ USD 23.244 billion), an increase of 11.7%. Profit before interest, tax and special items (EBIT) was DKK 16.096 billion (USD 2.239 billion), down 8.4% year-on-year.
In the air and sea segment, the revenue in 2024 was DKK 104.496 billion (about US $14.535 billion), an increase of 14.0%. EBIT was 11.888 billion Danish kroner ($1.654 billion), down 9.9% year on year. During the same period, DSV seagoing volume was 2.686 million TEU, up 6.6% year-on-year.
In 2024, DSV spent 14.3 billion euros (about $15.86 billion) to acquire another freight forwarding giant, DB Schenker.
DSV revealed in the results report that the acquisition of DB Schenker will be completed in the second quarter of 2025, and after the strategic integration of the two sides, the market share will reach 6% to 7%, which is expected to surpass DHL and Kuehne + Nagel and become the core leader of the freight forwarding industry. At the same time, the combined company will have revenues of more than DKR 300 billion ($41.73 billion), annual sea traffic of more than 4 million TEU and air traffic of about 2.5 million tons.
For the development prospects, DSV said that it will continue to provide efficient and reliable services to customers in the case of tight supply chains through continuous network expansion and focus on the development of LCL (less than container load) business.
