DSV air cargo volumes up 12% in Q2

Denmark-based logistics operator DSV recorded an 11% increase in airfreight volumes to 336,300 tonnes during the first half of 2018, driven mainly by a “strong performance” in EMEA and Americas exports.

The rise in DSV’s half year air cargo throughput outpaced an overall market benchmark of 5% growth in the same period.

Second quarter airfreight volumes at DSV were up 12% to around 173,500 tonnes, compared with a 10% rise in the first three months of 2018 to nearly 162,700 tonnes.

For comparison, CEVA saw its 2018 second quarter air cargo volumes decline by 1.3% year on year,  while Kuehne+Nagel saw air demand increase by 15.7%  and Panalpina reported a 4% increase.

DSV’s half year seafreight volumes rose 4% in the same period, with the Sea & Air division’s net revenue for the first six months of 2018, versus 2017, up by 6.7% on constant currencies to DKr15.5bn.

The division’s EBIT before special items was DKr1.8bn for the first half 2018, a 23.7% growth in constant currencies.

DSV Group’s gross profit rose 9% to Dkr4.4bn in the second quarter 2018, while + EBIT before special items surged 21% to just under DKr1.5bn.

Jens Bjørn Andersen, DSV chief executive, said:”Our financial results for Q2 2018 are at an all-time high, and I am pleased to see that all business areas have performed well.

“So far, the impact from trade tariffs has been limited and going into the second half of 2018 we continue to see a stable development on the global transport markets.

“DSV has good momentum and a strong foundation for further growth, and we upgrade our expectations for 2018.”