{"id":7211,"date":"2026-10-21T15:26:57","date_gmt":"2026-10-21T12:26:57","guid":{"rendered":"https:\/\/mikhailinvest.com\/dsv-set-to-root-out-low-margin-business-as-volumes-decline-in-q3\/"},"modified":"2026-10-21T15:26:57","modified_gmt":"2026-10-21T12:26:57","slug":"dsv-set-to-root-out-low-margin-business-as-volumes-decline-in-q3","status":"publish","type":"post","link":"https:\/\/mikhailinvest.com\/ru\/dsv-set-to-root-out-low-margin-business-as-volumes-decline-in-q3\/","title":{"rendered":"DSV set to root out low-margin business as volumes decline in Q3"},"content":{"rendered":"<div class=\"hero\"><img decoding=\"async\" src=\"https:\/\/theloadstar.com\/wp-content\/uploads\/aa8cffaa7b3ffc94ec38249cc33c419f-680x0-c-default.jpg\" alt=\"dreamstime_xs_104550052 (1)\" \/>\n<p>ID <a href=\"https:\/\/www.dreamstime.com\/dsv-s-danish-transport-logistics-company-offering-transport-services-worldwide-road-air-sea-train-dsv-curtain-image104550052\">104550052<\/a> \u00a9<br \/>\n<a href=\"https:\/\/www.dreamstime.com\/bwylezich_info\">Bj\u00f6rn Wylezich<\/a> | <a href=\"https:\/\/www.dreamstime.com\/\">Dreamstime.com<\/a><\/p>\n<\/div>\n<p>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<time datetime=\"2026-10-21\">21 October 2026<\/time><\/p>\n<p>Air and sea freight volumes at the world\u2019s largest freight forwarder, DSV, saw a decline in the third quarter, but revenues grew more than 15% year on year, due to elevated ocean freight rates.<\/p>\n<p>According to third-quarter results released today, DSV posted group revenue of DKr80.7bn ($12.1bn), up 10.5% year on year, and an EBIT before special items of DKr6.6bn, up 19.5% year on year.<\/p>\n<p>Its Air &amp; Sea forwarding division reported a 3% decline in air freight tonnage and ocean freight teu, but a 15.9% increase in combined revenue, to DKr45.6bn, while EBIT before special items was up 18.9% year on year, to just under DKr4.3bn.<\/p>\n<p>DSV also noted that over the first nine months of the year, its sea freight volumes had grown 13%, but attributed the Q3 decline to a mixture of \u201cweaker commercial performance on the APAC-Europe tradelane and the effect of yield management initiatives.<\/p>\n<p>It said: \u201cThe quarterly decline was greater than expected, but stabilised during the period.<\/p>\n<p>\u201cPerformance was impacted by weak demand on Middle East-related tradelanes, where disruptions affected activity, while the APAC-Europe tradelane continued to be affected by integration-related commercial impacts in certain countries, particularly in Germany.\u201d<\/p>\n<p>Chief executive Jens Lund told analysts on DSV\u2019s earnings call this morning the firm had spent the quarter \u201csanitising\u201d its lower-paying and loss-making shipper accounts.<\/p>\n<p>\u201cI would say of the 3% decline, about two percentage points were sanitising and the remaining 1% a business decline, certainly in air freight,\u201d he said.<\/p>\n<p>Third-quarter air freight volumes also fell 3%, year on year, to 560,890 tonnes, although over the nine-month period they were up 15% year on year.<\/p>\n<p>The company explained: \u201cDespite a positive volume trend during the quarter, the decline was larger than expected.<\/p>\n<p>\u201cVolumes were impacted by yield-management initiatives, conversion from air freight to sea freight, lower-than expected activity in Europe and reduced e-commerce volumes on the APAC-Europe tradelane.<\/p>\n<p>\u201cThis was partially offset by growth within the technology business in APAC and North America. Middle East-related tradelanes remained weak, due to the ongoing conflict in the region.\u201d<\/p>\n<p>Mr Lund added that between 20% and 25% of volumes were now running through the Tango TMS inherited through DSV\u2019s acquisition of Schenker, the remainder being handled via the CargoWise system.<\/p>\n<p>\u201cIt\u2019s predominantly the larger clients that we have on that [Tango] platform \u2013 the more complex ones.<\/p>\n<p>\u201cWe\u2019ve not started any roll-out yet \u2013 we\u2019ve said that we want to improve Tango, and it will also co-exist with CargoWise for quite a while, so that we de-risk the roll-out.\u201d<\/p>\n<p>Meanwhile the Road Transport division was clearly the group\u2019s worst performer: revenue essentially flat, at DKr23.4bn; while EBIT before special items decreased 35.1% year on year, to DKr526m, on the back of falling volumes and \u201ca period with operational issues\u201d.<\/p>\n<p>DSV said: \u201cHowever, the operational performance normalised at the end of the quarter and focus is now shifting to improving productivity and commercial performance.\u201d<\/p>\n<p>It added: \u201cWhile the Schenker integration continued during the quarter, the synergies are expected to be delayed into 2027.\u201d<\/p>\n<p>In contrast, its Contract Logistics arm saw revenue grow 7.3%, to DKr14.3bn, while EBIT before special items increased 50.3%, to DKr1.7bn, following \u201cproductivity and capacity improvements, including consolidation of low-margin sites\u201d.<\/p>\n<p>Mr Lund said: \u201cWhere you have activities in warehouses that basically operate at a very low margin, and sometimes even at a minus margin, all these things are not delivering the return we require \u2013 we are basically terminating this volume now.<\/p>\n<p>\u201cThat\u2019s part of the CL improvement \u2013 you take some business out that maybe loses money, or has very low margin, and you replace it with business that operates at a normal margin. And look at what an impact it has,\u201d he added.<\/p>\n<p>\u00a0<\/p>","protected":false},"excerpt":{"rendered":"<p>ID 104550052 \u00a9 Bj\u00f6rn Wylezich | Dreamstime.com 21 October 2026 Air and sea freight volumes at the world\u2019s largest freight forwarder, DSV, saw a decline in the third quarter, but revenues grew more than 15% year on year, due to elevated ocean freight rates. According to third-quarter results released today, DSV posted group revenue of 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104550052 \u00a9 Bj\u00f6rn Wylezich | Dreamstime.com 21 October 2026 Air and sea freight volumes at the world\u2019s largest freight forwarder, DSV, saw a decline in the third quarter, but revenues grew more than 15% year on year, due to elevated ocean freight rates. According to third-quarter results released today, DSV posted group revenue of&hellip;","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/phf4fX-1Sj","jetpack_featured_media_url":"https:\/\/mikhailinvest.com\/wp-content\/uploads\/2026\/10\/aa8cffaa7b3ffc94ec38249cc33c419f-680x0-c-default-gfK2JF.jpg","_links":{"self":[{"href":"https:\/\/mikhailinvest.com\/ru\/wp-json\/wp\/v2\/posts\/7211","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mikhailinvest.com\/ru\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mikhailinvest.com\/ru\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mikhailinvest.com\/ru\/wp-json\/wp\/v2\/users\/280549882"}],"replies":[{"embeddable":true,"href":"https:\/\/mikhailinvest.com\/ru\/wp-json\/wp\/v2\/comments?post=7211"}],"version-history":[{"count":0,"href":"https:\/\/mikhailinvest.com\/ru\/wp-json\/wp\/v2\/posts\/7211\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mikhailinvest.com\/ru\/wp-json\/wp\/v2\/media\/7195"}],"wp:attachment":[{"href":"https:\/\/mikhailinvest.com\/ru\/wp-json\/wp\/v2\/media?parent=7211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mikhailinvest.com\/ru\/wp-json\/wp\/v2\/categories?post=7211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mikhailinvest.com\/ru\/wp-json\/wp\/v2\/tags?post=7211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}