News / 'Declining demand for transport services' hits DSV's bottom line

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Danish 3PL DSV today posted a 27.4% year-on-year decline in group EBIT for 2023, with revenues falling 36%.

Group revenues across its three divisions – Air & Sea Forwarding, Road and Solutions – came in at DKr150.7bn ($21.9bn), while full-year EBIT was DKr17.7bn, compared with the DKr25.2bn operating profit in 2022.

“DSV delivered solid financial results for 2023, in line with our expectations,” said departing CEO Jens Andersen, adding that one year ago, its EBIT guidance for 2023 was DKr16-18bn.

“In a market ...