DANISH transport and logistics company DSV has reported increases in profit across its divisions for the third quarter of 2022.
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.
The Air & Sea division posted an 81% increase in EBIT before special items, the Solutions division posted a 104% EBIT increase and Road posted an 18% EBIT increase for the first nine months of 2022.
DSV CEO Jens Bjørn Andersen said the group was very pleased to report a strong set of results for the third quarter of 2022.
“All three divisions continued the good performance with growth in earnings and market share gains across most of our business areas,” he said.
“The global economic uncertainty has increased, but we have great trust in our flexible business model, which enables us to quickly adapt to changes.”
DSV noted the integration of Agility GIL, acquired last year, was successfully completed.
The third-quarter results are the first interim financial results to overlap with the integration, which commenced on 16 August 2021.
DSV said it has updated its full-year outlook range for 2022 following strong performance so far this year and in line with expectations for the fourth quarter.
