DSV has announced its Q1 results, showcasing a focus on market share gains, organic growth, and boosting investor confidence in its new leadership team. Despite a 6% decrease in revenues to DKK438.3 billion ($5.49 billion) and a 27% drop in profit to $342.9 million, CEO Jens Lund highlighted the increased volumes in both the air and ocean divisions.
Lund emphasized the focus on winning business in the SME segment and acquiring volume from larger accounts to drive growth throughout the year. While he avoided delving into specifics about the potential acquisition of DB Schenker, he emphasized the importance of outgrowing competitors and focusing on sustainable organic growth.
Other forwarders see a potential opportunity if DSV or another forwarder acquires Schenker, as it could lead to challenges or opportunities depending on the market share and buying power of the acquiring party. DSV seems uncertain about becoming the winning bidder and reiterated its focus on sustainable organic growth and operational and commercial improvements.
With a new management team in place, DSV is confident in delivering above-market growth and strengthening its position in both global and smaller customer segments. Lund expressed optimism about the year ahead and noted the normalization of freight markets in the Q1 results.
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