On Thursday, Denmark’s DSV (DSV.CO), the world’s third-largest freight forwarder, announced a first-quarter adjusted operating profit beyond forecasts and anticipated a worldwide trade volume recovery.
The logistics group profited from high freight rates during the epidemic but cost inflation and huge inventories have reduced worldwide consumer demand, lowering rates.
“As anticipated, demand for transport services and freight rates declined during the first quarter of 2023,” CEO Jens Bjorn Andersen remarked.
“We expect that global trade volumes will gradually improve in the upcoming quarters,” he added.
A DSV survey of analysts predicted 4.2 billion crowns for first-quarter earnings before interest, tax, and special items.
It reaffirmed its full-year operating profit projection.
