DSV Panalpina Exceeds Expectations for the First Half of the Year

Aug 4, 2020 at 7:04 AM

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The Danish transport and logistics provider DSV Panalpina A/S has performed significantly better than expected in the first half of 2020. A growth of 37 percent was recorded. Due to this unexpectedly positive result, DSV is now sticking to the annual forecasts issued before the coronavirus crisis.

(Hedehusene/DK) The globally operating transport and logistics provider DSV Panalpina A/S, headquartered in Hedehusene (Denmark), today presented the business figures for the completed first half of 2020.

Jens Bjørn Andersen, Group CEO, stated:
“The last few months have developed better than expected at the beginning of the COVID-19 crisis. We are pleased to report an EBIT growth of 63% before special items for the second quarter of 2020 and a growth of 37% for the first half of the year. Strong cost management and the continued successful integration of Panalpina were key drivers of our results. COVID-19 has created an extraordinary market situation in air freight. Here we were able to assist our customers and benefited from the old Panalpina freight network. Uncertainty remains higher than normal, but based on a strong first half of 2020, we can now resume our forecasts for the full year. We now expect EBIT before special items to be at the level of the guidelines we provided to the market before the onset of this crisis.”