Comment / DSV – relief rally

First reaction: safe and sound.

Understandably, however, DSV today tried to bury its rather disappointing Q4 22 performance, instead promoting “strong results for 2022”, but the cracks, particularly towards the end of the year, were visible to all.

Depending on the sell-side analyst you trust*, based on research that landed in my inbox, the fourth-quarter Ebit ’earnings miss’ against consensus estimates ranges between 3% and 5% and affects all divisions, with some unexpected P&L charges, too, also worth looking at.

(*The shares shrugged ...