DSV Panalpina reported revenue amounting to DKK30.122 billion (US$4.401 billion) for the fourth quarter of 2019, up from DKK20.945 billion in the same period of 2018.
Panalpina’s estimated contribution for the quarter was DKK9.353 billion. The organic growth rate was negative by 1.1%, DSV Panalpina said in a recent release.
“Q4 2019 was in line with our expectations and we can report EBIT of DKK 6,654 million for 2019, an 8.4% organic growth on 2018. 2019 was a strong year for our company—not least thanks to the acquisition of Panalpina in August 2019,” said Jens Bjørn Andersen, CEO of DSV Panalpina.
Gross profit for the quarter came to DKK7.084 billion (Q4 2018: DKK4.447 billion). Panalpina’s estimated contribution for the quarter was DKK1.841 billion. The organic growth in gross profit came to 4.4% for the group and was mainly driven by the air & sea and the solutions divisions.
EBIT before special items was up by 9.9% to DKK1.784 billion for the last quarter of 2019, up from DKK1.338 billion in the same quarter of 2018. The growth was again mainly driven by the air & sea and solutions divisions. Panalpina’s estimated contribution for the quarter was DKK175 million and was positively impacted by cost synergies.
For the full year of 2019, the group reported revenue of DKK94.701 billion compared to DKK79.053 billion for full-year 2018. Gross profit was DKK23.754 billion from DKK17.489 billion the previous year.
EBIT before special items was DKK6.654 billion compared to DKK5.450 billion for the whole of 2018.
For 2020, Andersen said the group expects EBIT in the DKK8.200 billion to DKK8.700 billion range.
“It is difficult to predict the market situation in 2020; currently the corona virus situation is impacting global supply chains and creating uncertainty. However, at this stage it is not possible to predict the financial impact,” Andersen said.
Photo courtesy of DSV
