DSV Panalpina Releases Interim Financial Report for Half-year 2021
DSV Panalpina has released its interim financial report for the first six months of 2021.
The results show strong growth in EBIT before special items of 64,7% during the first six months of 2021 compared to the same period in 2020.
The great performance was driven by 18% growth in gross profit and a high productivity across all divisions.
Jens Bjørn Andersen, Group CEO: “We are proud to report strong results for the first six months of 2021, where we deliver an EBIT result equivalent to our full-year EBIT of 2019.
"This is a clear testament to the successful integration of Panalpina and a strong performance by our organisation in an extraordinary market environment.
"The logistics markets continue to be characterised by tight capacity, congestion and low visibility, and we are doing our best to find solutions for our customers and keep their supply chains flowing.
"We still expect to close the Agility Global Integrated Logistics transaction in Q3 2021. The preparations for the integration are tracking the plans, and we look forward to combining the two global networks and creating an industry leader in logistics.”
Based on the strong financial performance for the first six months of 2021 and a positive outlook for the remainder of the year, DSV Panalpina has upgraded the full-year outlook for 2021 as follows:
EBIT before special items is expected to be in the range of DKK 12,500 - 13,000 million (previously DKK 11,750-12,500 million).
The effective tax rate is expected to approximate 23% (unchanged).
The financial outlook for 2021 is for DSV Panalpina stand-alone and excludes the impact from the acquisition of Agility’s Global Integrated Logistics business.
The financial outlook will be updated upon closing, which is expected in Q3 2021.