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We are very pleased with the strong results for the second quarter of 2019. DSV has managed to outgrow the market while still delivering market leading profitability.
Since 1989, we have grown our annual revenue by almost 10,000%
Panalpina recorded stable results for the first half-year 2019. From January to June 2019, Panalpina generated an EBIT of CHF 52.1 million (YTD 2018: CHF 54.7 million) and a consolidated profit of CHF 34.0 million (YTD 2018: CHF 36.1 million), thereby nearly reaching previous-year levels.
We delivered strong results in Q1 2019, with healthy top-line growth across all divisions and a 15% underlying growth in EBIT
In the first three months of 2019, international freight forwarding and logistics company Panalpina improved profitability compared to the same period of last year. Panalpina reported an EBIT of CHF 28.1 million (YTD 2018: CHF 24.4 million) and a consolidated profit of CHF 19.2 million (YTD 2018: CHF 16.6 million).
Malou Aamund was elected new member of the Board of Directors at DSV’s Annual General Meeting.
Panalpina ended the year 2018 with a historic record in Air Freight volumes, a recovering Ocean Freight product and solid profitability in Logistics. For the full year, Panalpina’s reported EBIT increased from CHF 103.3 million to CHF 118.4 million (+15%) and the reported consolidated profit increased from CHF 57.5 million to CHF 75.7 million (+32%).
We are on track to meet our 2020 financial targets, and 2018 demonstrates our dedication to delivering quality services to our customers and growing organically.
We delivered strong results in the first nine months of 2018, including healthy top-line growth across all business areas and continued improvement of our margins
In the first nine months of 2018, Panalpina increased group profitability compared to the same period of last year. From January to September, gross profit increased from CHF 1,024.8 million to CHF 1,116.2 million. Year-on-year, Panalpina’s EBIT increased from CHF 72.1 million to CHF 83.2 million and the consolidated profit increased from CHF 48.4 million to CHF 51.0 million.
Our financial results for Q2 2018 are at an all-time high and I am pleased to see that all business areas have performed well. So far, the impact from trade tariffs has been limited and going into the second half of 2018 we continue to see a stable development on the global transport markets.
Panalpina recorded a sound first half-year 2018 with sustained margins and double-digit profitability growth across the board. From January to June 2018, Panalpina increased EBIT from CHF 42.0 million to CHF 54.7 million and consolidated profit from CHF 29.9 million to CHF 36.1 million.
DSV performed well in the first quarter of 2018 and delivered growth in both freight volumes and EBIT. Based on the good start to 2018 and overall positive market trends we increase the low end of the EBIT guidance range for the full-year and launch a new three-month share buyback programme of DKK 1.1 billion.
In the first three months of 2018, international freight forwarding and logistics company Panalpina improved profitability compared to the same period of last year. Panalpina reported an EBIT of CHF 24.4 million (YTD 2017: CHF 16.4 million) and a consolidated profit of CHF 16.6 million (YTD 2017: CHF 12.4 million).
Panalpina ended the year 2017 with strong Air Freight volumes and margins, while in the fourth quarter margin pressure continued to impact the financial results in Ocean Freight. For the full year, Panalpina’s reported EBIT increased from CHF 82.0 million to CHF 103.3 million and the reported consolidated profit increased from CHF 52.3 million to CHF 57.5 million.
2017 was a record year for DSV with performance beyond expectation. After a strong Q4 2017, we are able to report full-year earnings for 2017 at the high end of our latest outlook and a very strong cash flow. With the UTi integration well behind us, we will now focus on developing DSV, and for 2018 we expect up to 11% growth in earnings.
"A strong commercial and operational performance in Q3 has driven earnings growth of more than 30% and a volume performance in line with or above the market. We are pleased to see our business continuously improving, and based on this, we upgrade our expectations for 2017 and launch a five-month share buyback programme of DKK 1,250 million."
In the first nine months of 2017, Panalpina grew volumes in both Air and Ocean Freight compared to the same period of last year. As the year progressed, group gross profit as well as EBIT increased with every quarter. Year-on-year, Panalpina’s reported EBIT increased from CHF 67.5 million to CHF 72.1 million and the reported consolidated profit increased from CHF 46.5 million to CHF 48.4 million.
Panalpina recorded robust volume growth in both Air and Ocean Freight in the first half-year of 2017. As higher freight rates and margin pressure persisted, Panalpina increased its reported EBIT from 34.7 million (adjusted half-year 2016: CHF 60.8 million) to CHF 42.0 million and the reported consolidated profit from CHF 21.8 million (adjusted HY 2016: 47.9 million) to CHF 29.9 million.
A very strong set of Q1 numbers brings us even closer to our goal of reaching pre-UTi performance levels and margins.
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