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DSV reports lower Q3 air and sea volumes, plans to cut low-margin business
DSV's third-quarter air and sea freight volumes fell, while group revenue rose 10.5% to DKr71.9bn and EBIT before special items increased 19.5% to DKr5.4bn; the forwarder says it will root out low-margin business.
DSV, described as the world's largest freight forwarder, saw air and sea freight volumes decline in the third quarter. Group revenue was DKr71.9bn ($10.8bn), up 10.5% year on year, while EBIT before special items rose 19.5% to DKr5.4bn.
The results material attributes revenue growth to elevated ocean freight rates. The company is also set to root out low-margin business as its volumes decline, according to the report.
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