Comment / Against the odds: A dull day for DSV – the calm before the M&A storm

With hindsight, and I’m not trying to brag too loudly in public (!), but our ’DSV ? abandoned love’ coverage (Part I and Part II) was prophetic.

And, while the 2021 trading update out today was just what the doctor ordered as DSV expands faster (Tab.1) – with guidance higher than consensus and new 2026 targets (Tab.2) – globally, surely…

… it wasn’t enough to meaningfully propel the value, M&A-driven story.

Which has now paused, while elsewhere in Copenhagen, logistics rival AP Møller-Mærsk ...