DSV Financial Performance
Air freight Q4 2022
I DSV Tonnes, '000
Gross profit/tonne, DKK
12,549
12,748
11,426
11,026
9,263
439
411
403
376
368
Management commentary
•
•
•
Global air cargo tonnages have been in
decline since February 2022 - with export
from Asia as the weakest market.
Normal peak season did not materialise in
Q4-22.
We estimate that DSV's organic volume
performance in 2022 was slightly ahead of
the general market growth.
Gradual yield decline as supply chain
congestion eases and belly-space capacity
returns.
Q4-21
Q1-22
Q2-22
Q3-22
Q4-22
FY-22
Volume growth air
DSV including M&A
35%
22%
15%
(3%)
(16%)
3%
DSV organic (estimate)
12%
2%
(4%)
(10%)
(16%)
(7%)
Market estimate
10-15%
0%
(7-10%)
(11-13%)
(15-17%)
(8-10%)
6
DSV's volume growth was impacted by the addition of GIL in the period Q3-21 to Q3-22.View entire presentation