DSV's air freight volumes have slightly dipped this half-year, with amounts (in tonnes) increasing by 1% for the first half of 2019, but decreasing by 2% in the second quarter of the year. The decline is a result of trends in the market, as well as the termination of a high-volume, low-margin customer contract.
In addition, continued political uncertainty about trade tariffs between US and China, coupled with a deceleration in global investment, negatively impacted global trade volumes (by an estimated 4%) in the second quarter of 2019.
Overall, the entire DSV Group achieved a gross profit of DKK10,399 million for the first six months of 2019, compared with DKK8,570 million for the same period last year.
Jens Bjørn Andersen, Group CEO, commented: "We are very pleased with the strong results for the second quarter of 2019. Global transport markets are soft – especially within air freight, but DSV has managed to outgrow the market while still delivering market leading profitability.
"We expect that the Panalpina transaction will close in Q3 and we look forward to combining two strong companies and leveraging our extensive networks and expertise to provide even stronger customer offerings."
