DSV Q1 revenue down 33% on weak air/sea volumes

Air volumes declined approximately 20% in Q12023 to 327,712 tonnes with weakest development on export volumes from APAC

Air and sea revenue dropped 43% to DKK 26 billion ($3.9 billion). Operating profit declined 28% to DKK 4.7 billion ($700 million) from DKK 6.5 billion in Q12022 ($975 million).

We achieved good results and strong cash flow in all our business areas by providing good customer service and efficiently managing our capacity. We expect that global trade volumes will improve gradually in the upcoming quarters, and we stand by our full-year EBIT guidance for 2023.