Despite the Covid-19 pandemic and lack of predictability throughout the year, logistics major DSV Panalpina has reported what CEO Jens Bjørn Andersen describes as "excellent results" across all divisions and markets.
“We completed the Panalpina integration and achieved an operating profit before special items of DKK 9 520 million ($1.55m), which is a significant increase of 47% compared to 2019,” he said.
He admits that 2021will be challenging, but after the acquisition of Panalpina, the biggest acquisition in the history of the company, he has made it clear that further acquisitions are firmly in the company’s focus.
“With the addition of Panalpina, the Group is now among the leading companies in the global transport and logistics industry, but our market share is less than 5% due to a very fragmented industry,” he said.
“Our acquisition ambition therefore remains a core part of our growth strategy along with our ambition to grow organically. In 2020, we announced two smaller bolt-on acquisitions, Prime Cargo and Globeflight, but large acquisitions remain our primary focus.”
The company has also unveiled new and ambitious sustainability targets. The combined DSV and Panalpina emissions amounted to 16 million tonnes CO2 in 2019, of which the largest part was related to freight transport. “By 2030 we must reduce our carbon footprint by at least 30% from a 2019 base year. In 2020, we already saw a reduction; however, this was mainly due to lower volumes following Covid-19.”
