DSV Attributes a Successful Q1 to the Past As It Looks Forward to Finalising Panalpina Deal
Narrow-moat DSV released a solid set of Q1 results with underlying revenue rising almost 8% over the period and EBIT margins hitting 7.3%, a level that will become a record high if maintained for the full year. These numbers are in line with our expectations and we therefore we do not expect to make any changes to our near-term forecasts, nor to our DKK 440 fair value estimate. We believe the shares are currently overpriced.The sea and air divisions, which together generate 45% of group revenue...
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.
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