For many years, DSV has had Swiss Panalpina as number one on its acquisition list. The timing is now right as the logistics company is feeling increasing pressure from carriers, says the head of investment to ShippingWatch.
Profit is more important than high growth for DSV, says CFO Jens Lund in an interview with ShippingWatch in reference to competitor Kuehne+Nagel, which says it aims to grow twice as fast as the market.
Profit vejer tungere end høj vækst hos danske DSV, siger økonomidirektør Jens Lund i et interview med ShippingWatch med henvisning til konkurrenten Kuehne+Nagel, som vil vokse dobbelt så hurtigt som markedet.
The transport and logistics group now expects a slightly higher operating profit for the whole year, shows the company's third quarter report. According to its CEO, DSV has not been impacted by trade conflicts, but does acknowledge that they create uncertainty. Seafreight has grown well.
"For the last 20-25 years, each annual result has, with one or two exceptions, been better than the previous," DSV Chief Executive Jens Bjørn Andersen tells ShippingWatch after the company has published a new record result. But Seafreight only just reached the target, and something needs to be done about that.
Transport and logistics group DSV now upgrades its full-year expectations for operating result as well as available cash flow after a result for the second quarter described as "all-time high" by CEO Jens Bjørn Andersen.
DSV has a clear edge compared to new digital players in the sector, says DSV Chief Financial Officer Jens Lund in an interview with ShippingWatch. But DSV is keeping a close eye on the US-based startup.
2017 became another record year for DSV, and the integration of UTi is now done. The company is looking for acquisition candidates to grow its market share, CEU Jens Bjørn Andersen tells ShippingWatch.
DSV is almost done integrating UTi's organization, and the Danish logistics company has in this process replaced no less than 3,000 employees. And more employees are needed, CFO Jens Lund tells ShippingWatch.
Kim Aarenstrup comes straight from the center for cyber crime at the Danish police. Going forward, he will protect DSV against hacker attacks. "It's a matter of finding the holes before the criminals," he tells ShippingWatch.
After many years of unusually low rates, DSV Chief Exec Jens Bjørn Andersen is now preparing for higher rates. "Big changes are taking place right now on the sea freight market, and it's all about staying close to the development," he tells ShippingWatch in a post-report interview.
DSV delivered the group's best results ever for the first half of the year, says CEO Jens Bjørn Andersen in the company's interim report. The logistics group upgrades its full-year guidance and initiates share buyback program for DKK 1 billion.
Underlying growth and synergies from last year's acquisition of US company UTi Worldwide could be the ingredients for improved earnings at DSV, according to analysts ahead of the Q2 report, set for release tomorrow Wednesday.
The entire deal was kept under wraps to the extent that Senior Manager of Corporate Communication at DSV, Tina Hindsbo, only started preparing the announcement of the major transaction one week prior, she explains in the latest article in ShippingWatch's series about communication.