Report
Michael Field
EUR 101.80 For Business Accounts Only

Narrow-Moat DSV Delivers and Raises

Narrow-moat DSV delivered a strong third-quarter performance, in line with our expectations for the full year. However, management has raised the bar once again, raising full-year guidance on an operating profit level by more than 4% on the back of higher-than-expected activity levels in key divisions, and a faster-than-expected realisation of synergies from the UTi integration. We may make minor changes to our near-term forecasts based on the raised guidance, but do not expect to make any mater...
Underlying
DSV Panalpina A/S

DSV is engaged in the provision of transport and logistics solutions. As of Dec 31 2014, Co.'s operations comprised of three business areas. The DSV Air and Sea business provides air and sea freight services and designs project solutions. The DSV Road business provides road and rail transport services including full loads, part loads and groupage. The DSV Solutions business area specializes in contract logistics, which include logistic and warehousing solutions, as well as freight management, custom clearance, order management and e-commerce solutions.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Michael Field

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