DSV’s half year air freight boost

Danish freight forwarder DSV saw an 11 per cent rise in air freight volumes in the first half of 2014 to 137,000 tonnes, well above an estimated market growth of between two and four per cent for the period.
Acquisitions added around two per cent to the surge in air cargo volumes, said DSV. The group’s combined sea and air division recorded a half year 8.1 per cent rise in net revenues to DKr10.5 billion.
Gross profit for the sea and air division rose 5.8 per cent to DKr2.2 billion in the half year.
DSV group chief executive Jens Bjørn Andersen said: "We maintained the positive growth trend in number of shipments in all our business areas in the second quarter of 2014. We are gaining market share in a highly competitive market and are seeing a positive development in both earnings and cash flow despite an adverse currency effect.
"The earnings growth owes to our global air and sea freight activities, which reported top line growth and increased productivity. The European road freight and contract logistics markets are characterised by fierce price competition, which had an impact on our earnings in these business areas”.
For sector comparison, DB Schenker saw its half year 2014 air freight volumes rise 2.7 per cent to 540,000 tonnes, while Kuehne + Nagel’s were up 3.9 per cent to 580,000 tonnes and Panalpina’s also rose by 3.9 per cent, to 417,000 tonnes.
The top global freight forwarder in air cargo, Germany’s Deutsche Post DHL, will report its interim results next week.