DSV concentrates on Agility integration
The hungry Danish logistics lion has reported its interim figures for Q3/2021. Revenues in Q3/2021 amounted to DKK 49.6 billion (EUR 6.6 billion), a leap forward of 43.3% in comparison to the same period last year (DKK 28.1 billion/ EUR 3.8 billion).
Operating profit (ebit) grew even stronger to DKK 4.5 billion (EUR 600 million), an improvement of approx. 62% compared to Q3/2020 with DKK 2.7 billion/ EUR 370 million.
Acquisitions are part of this growth, and currently DSV's digestion of Agility is on top of the agenda, as Jens Bjørn Andersen, Group CEO, commented: “In August, we completed the acquisition of Agility’s Global Integrated Logistics business. The integration is off to a good start. Under the extraordinary market conditions, we are happy to report solid results across all divisions.”
In detail, DSV estimates transaction and integration costs to amount to DKK 500 million (EUR 67 million) in 2021. The current business outlook seems to justify the expense. In the future, Agility’s Global Integrated Logistics business is expected to contribute approximately DKK 3 billion/EUR 400 million (previously DKK 2.8 million) to the group's ebit on an annual basis.
The integration is scheduled to be completed in exactly one year, by the end of Q3/2022, with the full-year ebit effect expected in 2023. (sh)