According to CEO Jens Bj\u00f8rn Andersen 2015 was a good year for DSV, one of the first major logistics companies to report financial data for the full year. Andersen said DSV gained market share across all business segments, delivering strong growth in earnings and cash flow. Net revenue of US$7.7 billion was up 4.7 percent over 2014, while gross profit of $1.7 billion was up 8.8 percent over the previous year. Operating profit before special items of $459 million was up 16.2 percent during the same time period.
\nDemand for the Danish company\u2019s airfreight grew in 2015 at a rate that was \u201cabove the market average\u201d, Andersen said.\u00a0 \u201cThe air freight results were a key contributor to the division\u2019s organic EBIT growth of 13 percent,\u201d he said. The road division\u2019s EBIT grew by 8 percent.
\nDSV also received final approval for the acquisition of U.S. logistics company UTi in January. \u201cWe now have a major project ahead of us \u2013 the merger of two global logistics providers and lifting the UTi earnings to DSV levels,\u201d Andersen said. \u201cBased on the assumption of a stable development in the transport markets, we expect to deliver growth in operating profit in 2016 (before restructuring costs relating to the UTi integration).\u00a0 DSV estimates EBIT before special items in 2016 to be in the range of $467.5 to $528 million.\u201d
\nDSV is the fourth-largest freight forwarder in the world behind DHL Logistics, Kuehne + Nagel and DB Schenker.
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\nSource: aircargoworld<\/p>\n","protected":false},"excerpt":{"rendered":"