UPDATE 1-Freight group DSV braces for more market uncertainty after Q4 profit slightly lags expectations

Adds detail on profit, acquisition, dividend in paragraphs 2-6, background in 2-3

- Danish freight company DSV DSV.CO reported on Wednesday a fourth-quarter operating profit before special items slightly below expectations and predicted continued market uncertainty related to trade tariffs and economy.

Operating profit before special items at the world's largest logistics group was 5.59 billion crowns ($886 million) against a year-earlier 3.94 billion and an average forecast of 5.64 billion in a poll provided by DSV.

DSV said it now expected to complete the integration of German rival DB Schenker, which it bought in a $16-billion transaction in April 2025, by the end of this year. It previously expected the integration to take until the end of 2028.

It predicted growth in global air and sea freight volumes this year of around 2-3%, in line with or slightly lower than global GDP forecasts.

"The current market uncertainties related to trade tariffs, the geopolitical landscape and macroeconomic factors are expected to persist," it said in a statement.

DSV forecast a full-year operating profit before special items of 23-25.5 billion crowns ($3.64-4.04 billion), and proposed a dividend for 2025 of 7 crowns per share.

($1 = 6.3110 Danish crowns)


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