DSV Reports Strong Q3 Performance Amidst Macroeconomic Slowdown
DSV has reported strong results in Q3 2022, driven by good performance across divisions, with growth in earnings and market share gains across most business areas.
In the first nine months of the year, gross profit grew by 50%, while EBIT before special items grew 75% and adjusted free cash flow more than quadrupled compared to the same period last year.
Air & Sea achieved an 81% increase in EBIT before special items, Solutions achieved a 104% EBIT increase and Road achieved a 18% EBIT increase, for the first nine months of 2022.
The integration of Agility GIL is now successfully completed. The Q3 results are the first interim financial results to overlap with the integration, which commenced on 16 August 2021.
The global economic uncertainty has increased, but DSV's flexible business model enables the company to quickly adapt to changes.
DSV has upgraded the full-year outlook range for 2022. EBIT before special items is expected to be around 3.4 billion.