DSV ups expectations on strong Q1

The Danish global transport and logistics provider posted profits of 769 million Danish krone (U.S. $123.4 million) for the quarter, a year-over-year increase of 14.9 percent.    Danish global transport and logistics provider DSV A/S saw its first-quarter 2018 profits rise 14.9 percent to 769 million Danish krone (U.S. $123.4 million) compared with the same three-month period last year, according to the company’s latest financial statements.
   Diluted earnings per share, however, slipped from DKK 4.30 in the first quarter of 2017 to DKK 4.20 per share in Q1 2018, despite a 0.9 percent uptick in revenues to DKK 18.4 billion.
   Broken down by division, DSV Air & Sea’s net revenues slipped 0.7 percent year-over-year to DKK 8.4 billion, despite air freight volumes rising 10 percent and ocean cargo volumes growing 4 percent.
   DSV Road saw its net revenues inch up 0.6 percent to DKK 7.7 billion, as shipment volumes grew 3 percent compared with the first quarter of 2017.
   The firm’s contract logistics segment, DSV Solutions, posted net revenues of DKK 2.8 billion, a 6.3 percent increase from the prior-year period, thanks to strong growth in e-commerce as well as in other “more conventional” industries, DSV said.
   For the remaining three quarters of 2018, DSV adjusted its outlook for operating profit before special items to a range of DKK 5.1 billion to DKK 5.4 billion, up from a previous estimate of between DKK 5.0 billion and DKK 5.4 billion.
   “DSV performed well in the first quarter of 2018 and delivered growth in both freight volumes and EBIT,” CEO Jens Bjørn Andersen said of the results. “Based on the good start to 2018 and overall positive market trends, we increase the low end of the EBIT guidance range for the full year and launch a new three-month share buyback program of DKK 1.1 billion.”