DSV upgrades financial outlook for 2021 amid strong sea and air growth

A strong first half performance in sea and air freight that continued into the third quarter has seen Danish mega-forwarder DSV upgrade its 2021 financial outlook.

A company announcement stated: “The positive development in the first half of the year has continued into Q3 2021, and we have seen strong financial performance across all divisions with results exceeding our expectations, especially in Air & Sea.

“The strong results are driven by high activity levels and continued extraordinary market conditions with disruption and tight capacity in both air and sea freight markets.”

The integration of Agility’s Global Integrated Logistics business started in mid-August this year and is “progressing as expected”.

Based on preliminary numbers for Q3 2021 and expectations for the remaining part of 2021, DSV upgraded the full-year outlook for 2021 as follows:

EBIT before special items is expected to be in the range of DKK 15,250-16,000m (previously DKK 13,750-14,500m).

DSV added: “The upgraded outlook is based on the assumptions that the current situation in the transport markets with strong demand and tight capacity will continue throughout 2021. Furthermore, we assume that the integration of Agility GIL will continue as planned.”

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