Danish freight forwarder DSV posted an 11 per cent growth in air freight volumes in the first half of 2018 (1H2018) – more than double the market rate of five per cent.
DSV recorded 336,267 tonnes, well above the 302,869 tonnes in 1H2017 and the increase was mainly driven by strong performance on EMA and Americas exports.
The air division in 1H 2018, achieved a net revenue of DKK 8,816 million ($1.38 billion), up on the DKK 8,239 million in the same half last year and gross profit was DKK 2,251 million, up on the DKK 2,105 million in 1H2017.
Overall net revenue for 1H2018 was DKK 37,871 million (2017: DKK 37,147 million) and operating profit (EBIT) before special items was DKK 2,605 million (2017: DKK 2,369 million).
DSV chief executive officer, Jens Bjørn Andersen said: “Our financial results for Q2 2018 are at an all-time high and I am pleased to see that all business areas have performed well.
“So far, the impact from trade tariffs has been limited and going into the second half of 2018 we continue to see a stable development on the global transport markets. DSV has good momentum and a strong foundation for further growth, and we upgrade our expectations for 2018.”