DSV Panalpina Reports Strong Results in First Half of 2021

DSV Panalpina publishes today the half-year financial report for the first six months of 2021. The results show a strong growth in EBIT before special items of 64.7% in the first six months of 2021 compared to the same period in 2020. This excellent performance was supported by an 18% growth in gross profit and high productivity across all business areas.

Jens Bjørn Andersen, CEO of the Group: “We are proud to report strong results for the first six months of 2021, during which we achieved an EBIT result that matches the EBIT for the entire year of 2019. This is clear evidence of the successful integration of Panalpina and a strong performance from our organization in an extraordinary market environment. The logistics markets continue to be characterized by tight capacities, congestion, and low visibility, and we are doing our best to find solutions for our customers and keep their supply chains flowing. We still expect to complete the transaction of Agility Global Integrated Logistics in the third quarter of 2021. Preparations for the integration are proceeding as planned, and we look forward to combining the two global networks and creating an industry leader in logistics.”

Outlook for 2021

Based on the strong financial performance in the first six months of 2021 and a positive outlook for the remainder of the year, DSV has raised its outlook for the full year 2021 as follows:

• EBIT before special items is expected to be in the range of DKK 12,500 to 13,000 million (previously DKK 11,750 to 12,500 million).
• The effective tax rate is expected to be around 23% (unchanged).

The financial outlook for 2021 refers solely to DSV Panalpina and excludes the effects of the acquisition of Agility’s global integrated logistics business. The financial outlook will be updated after the completion of the acquisition, which is expected in the third quarter of 2021.
Graphic/Photo: © DSV