DSV Panalpina: significant growth in 2019 but cautious predictions about 2020
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The Danish logistics company DSV achieved considerable growth after the acquisition of competitor Panalpina in August 2019. But Jens Bjørn Andersen, CEO of DSV Panalpina, is cautious about making predictions for 2020.
Q4 2019 was in line with our expectations, and we can report EBIT of DKK 6,654 million for 2019, an 8.4% organic growth in 2018. 2019 was a strong year for our company – not least thanks to the acquisition of Panalpina in August 2019.” – says Jens Bjørn Andersen, CEO, DSV Panalpina A/S.
Last year, DSV Panalpina reported a 19.8 percent increase in turnover from 79 billion Danish crowns (approx. 10,5 billion euros) to 94.7 billion Danish crowns (approx. 12,6 billion euros)
Around 13.4 billion Danish crowns of turnover estimated for the increase due to the acquisition of Panalpina, while organic growth was 2 percent. In turn, EBIT increased by 22.1 percent (to the aforementioned 6.6 billion Danish crowns).
The logistics giant recorded a gross profit of DKK 23.7 billion (approx 3.17 billion euros) last year, i.e. by 35 percent more than a year ago.
2019 was a strong year for our company – not only thanks to the acquisition of Panalpina. A large part of our organisation is working hard now on integration, and everything is going well, “summarised the report by Jens Bjørn Andersen.
Anderson also stated that in 2020 it expects EBIT in the range of 8.2 to 8.7 billion Danish crowns (approx 1,16 billion euros).
It is difficult to predict the market situation in 2020; currently, the coronavirus situation is impacting global supply chains and creating uncertainty. However, at this stage, it is not possible to predict the financial impact. – Andersen emphasised.
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