Global transport and logistics company DSV has released its 2024 annual full-year report, in which Group CEO Jens H. Lund has described the overall performance as “solid”.
DSV’s 2024 was underpinned by the acquisition of Schenker from Deutsche Bahn at a value of EUR 14.3 billion (AU$23.6 billion), which will take the company’s combined international workforce to over 147,000 employees.
The acquisition was announced two months after Maersk pulled out of a deal to purchase Schenker in a deal that was reported to have been worth over EUR 15 billion.
DSV plans to invest EUR 1 billion into its German operations over the next three to five years.
Gross profit decreased 1.2 per cent when compared to 2023, however a final quarter bounce-back helped limit the reduction despite a weaker road market.
Lund says a strong finish to the 2024 calendar year has helped set the company up for a strong 2025.
“We delivered solid financial results for 2024, in line with our expectations, and returned to earnings growth in the second half of the year,” Lund says. “We successfully executed our strategy and grew our volumes ahead of the market, driven by our commercial initiatives and supporting our customers overcome supply chain challenges.
“With the announced acquisition of Schenker, we are reinforcing our platform for future growth. We also progressed on the sustainability agenda and are on track to reach our decarbonisation targets as well as supporting our customers in their ambitions to reduce their carbon footprint.
“I would like to thank our customers, suppliers and, most of all, my dedicated DSV colleagues for their hard work and support. I am very much looking forward to continuing the journey together with the employees from Schenker. Together, we will create a leading player within global transport and logistics.”
DSV’s global operations were strongly influenced by its presence in Asia, especially due to the increased demand for air freight in the region.
With that increased demand, however, came a significant rise in total air emissions for DSV in 2024.
Despite the increase, DSV is still in line to reach its 2030 target of 14.06 million tonnes of CO2 emissions.
Its 12.97 million tonnes released in 2024 is an over 35 per cent decrease on its 2019 baseline of 20.1 million tonnes.
The macroeconomic environment was characterised by continued high interest rates and inflation,” Lund says.
“However, global transport volumes still grew, driven by lower inventory levels at the beginning of the year and solid consumer spending, especially in the US. The global air freight market was positively impacted by Chinese e-commerce players exporting large volumes from Asia, demonstrating the fast-paced and dynamic nature of global trade and consumer trends.
“In 2024, the total air emissions increased by 20.9% compared to 2023. The biggest impact is a result of higher volume being transported by air especially on long-haul routes from China and Southeast Asia.”
DSV fully owns and operates eight companies in Australia and a further one in New Zealand. Seven of these Oceania-based businesses operate in the air and sea freight space, while two operate in solutions.
Globally, DSV offers multimodal freight solutions, while its ongoing acquisition of Schenker is set to dramatically increase its Australian presence.
Schenker currently operates 17 site in Australia, including six in Sydney and five in Melbourne.
A full copy of DSV’s 2024 annual report is available here.
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