DSV (company)

Last updated
DSV A/S
Company type Aktieselskab
Nasdaq Copenhagen:  DSV
Industry Transport and logistics
Founded1976;48 years ago (1976)
Headquarters Hedehusene, Denmark
Key people
Jens Lund (Group CEO), Thomas Plenborg (Chairman of the Board of Directors)
ServicesAir, sea and road transport, freight forwarding, contract logistics
Revenue DKK 235,665 million (2022)
DKK 25,204 million (2022)
DKK 17,671 million (2022)
Total assets DKK 159,045 million (2022)
Total equity DKK 71,741 million (2022)
Number of employees
76,000 (FTE, end 2022)
Divisions Air & Sea, Road, Solutions
Website www.dsv.com
Footnotes /references
investor.dsv.com

DSV A/S [1] is a Danish transport and logistics company offering global transport services by road, air, sea and train. Since its foundation in 1976 by nine independent Danish hauliers, the company has achieved rapid expansion and international presence, predominantly through a series of strategic competitor acquisitions, some of the most important ones being Samson Transport (1997), DFDS Dan Transport Group (2000), J.H.Bachmann (2004), Frans Maas (2006), ABX LOGISTICS (2008), UTi Worldwide, Inc. (2016), Panalpina Welttransport (Holding) AG (2019) and Agility Global Integrated Logistics (GIL) (2021).

Contents

With headquarters in Hedehusene (near Copenhagen), Denmark, and offices in more than 80 countries, DSV employs 74,000 people, including temporary workers and collaborates with partners and agents globally. [1] The company is listed on NASDAQ OMX Copenhagen (Copenhagen Stock Exchange) and included in the OMXC25 index as one of the 25 most traded stocks. [2]

The company is structured in three divisions, Road, Air & Sea, and Solutions. Its main activities lie within road transport (trucking) networks in Europe, North America and South Africa, global air and sea freight forwarding business, and contract logistics across the globe. As part of an asset-light financial strategy to maintain fixed costs at a minimum and be able to quickly respond to market fluctuations, the group does not own any ships or aeroplanes and only a relatively small fleet of trucks and trailers. [1]

Jens Lund became CEO in February 2024. In 2022, the company reported a net revenue of DKK 235,665 million. [1]

History

In 1976, Leif Tullberg and nine independent haulers established DSV, an initialism for "De Sammensluttede Vognmænd af 13-7 1976 A/S" (The Joint Hauliers of 13-7 1976). [3] Leif Tullberg remained CEO until his retirement in 2005.

He was succeeded by Kurt Larsen who became chairman of the board of directors in 2008 when Jens Bjørn Andersen took over as CEO.

During the first decade the company mainly functioned as a cartage department for the owners, handling contract haulage and deliveries. [3]

Seeking a foothold on the international market, DSV bought two competing export companies in 1989, Borup Autotransport A/S and Hammerbro A/S-Bech Trans. The next acquisitions on the road to becoming Pan-European were Samson Transport Co. A/S in 1997 and Svex Group A/S in 1999. [3]

The purchase of the DFDS Dan Transport Group in 2000 provided DSV with important road transport activities in Scandinavia, the UK, several Mainland European countries and the Baltics plus a global network including a logistics set-up. [3] The purchase of J.H. Bachmann in 2005 reinforced the company's position within international air and sea transport.

The acquisition of the Dutch Frans Maas Group in 2006 placed DSV as a truly Pan-European road transport and logistics supplier – and one of the three largest in Europe. [4] With the acquisition of ABX LOGISTICS in 2008, DSV got a foothold in South America and is now represented on six continents. [3] With the acquisition of UTi Worldwide, Inc. in 2016 and Panalpina Welttransport (Holding) AG in 2019, [1] the company became one of the world's four largest transport and logistics companies. [1]

On 1 April 2019, an acquisition agreement with Swiss Panalpina was announced valued at CHF 4.6 billion (€ 4.1 billion). [5] On 19 August 2019, DSV announced that the acquisition of Panalpina was completed. [6]

In July 2020, DSV announced its plans to invest approx. DKK2bn in a new logistics centre near Horsens, Europe's largest with just one leaseholder. [7]

In December 2020, DSV announced they would acquire Globeflight Worldwide Express, a South African-based courier company. [8] The deal was completed in May 2021. [9] [10] DSV offers a prepaid service in South Africa through their DSV Direct website, DSV Courier, allowing users to send packages without an account. [11]

On 27 April 2021, DSV agreed terms to acquire Agility Logistics. [12] The acquisition was completed 19 August 2021. With this acquisition, the company gained a stronger foothold in the Middle East and added additional capacity to all its divisions: Air & Sea, Road and Solutions.

In September 2024, DSV agreed terms to purchase DB Schenker from Deutsche Bahn for €14.3 billion. On completion of the acquisition, the combined company will become the largest freight-forwarder in the world. [13] [14]

Company name

When in 2000 DSV A/S acquired DFDS Dan Transport Group A/S, the new joint company's activities continued under the DFDS Transport name, while the parent company remained De Sammensluttede Vognmænd (In English: The joint Hauliers) af 13-7 1976 A/S. In 2003, it was formally shortened to DSV A/S. [3]

In 2007, the name of the company's transport activities were also changed to DSV, to create a global brand and avoid confusion.

On 24 September 2019, at an Extraordinary General Meeting following the acquisition of Panalpina Welttransport (Holding) AG, it was decided to change the company name from DSV A/S to DSV Panalpina A/S while maintaining DSV A/S as a second name. [15] The name change only applied to the parent company. The DSV logo remained unchanged.

On 8 September 2021, the name of parent company, DSV Panalpina A/S, was changed back to DSV A/S. [16]

Related Research Articles

<span class="mw-page-title-main">Deutsche Bahn</span> State-owned national railway company of Germany

The Deutsche Bahn AG is the national railway company of Germany, and a state-owned enterprise under the control of the German government. Headquartered in the Bahntower in Berlin, it is a joint-stock company (AG) and the largest railway company in the world.

<span class="mw-page-title-main">Nasdaq Nordic</span> Swedish-based subsidiary of Nasdaq, Inc.

Nasdaq Nordic is the common name for the subsidiaries of Nasdaq, Inc. that provide financial services and operate marketplaces for securities in the Nordic and Baltic regions of Europe.

<span class="mw-page-title-main">BAX Global</span> Airline of the United States

BAX Global was an American international shipping company that was headquartered in Irvine, California, and had other major offices in Australia, Singapore, London, the Netherlands and Toledo, Ohio. The company was a subsidiary of the Burlington Northern Railroad.

Toll Group operates a logistics and global freight forwarding network spanning 150 countries, with over 20,000 customers. Toll has more than 16,000 team members across 500 sites.

<span class="mw-page-title-main">DFDS</span> Danish international shipping and logistics corporation

DFDS is a Danish international shipping and logistics company. The company's name is an abbreviation of Det Forenede Dampskibs-Selskab. DFDS was founded in 1866, when C.F. Tietgen merged the three biggest Danish steamship companies of that day.

The Rhenus Group is an international logistics service provider based in Holzwickede near Dortmund, Germany. The company has branches in Europe, India, North, Central and South America, Asia, Africa, and Oceania. It is a subsidiary of German Rethmann Group.

<span class="mw-page-title-main">ISS A/S</span> Danish facility management company

ISS A/S is a facility management services company founded in Copenhagen, Denmark in 1901. ISS's core services include: security, cleaning, technical, food and workplace. The ISS Group’s revenue amounted to DKK 69.823 billion in 2020 and ISS has nearly 400,000 employees and activities in countries across Europe, Asia, North America, Latin America and the Pacific.

Panalpina, legally Panalpina Welttransport Holding AG, was a Swiss logistics company. It merged with DSV in 2019 and became DSV Panalpina, with the Panalpina name being killed off in September 2021 by DSV through a brand re-alignment.

<span class="mw-page-title-main">DB Cargo Polska</span>

DB Cargo Polska is a Polish company operating mainly in rail freight transportation. It is presently owned by the German state railway company Deutsche Bahn (DB).


Mainfreight Limited is a New Zealand logistics and transport company headquartered in Auckland, New Zealand(Ōtara). Mainfreight commenced operations in Auckland in 1978 and is the country's largest logistics company. It has been listed on the New Zealand Exchange since 1996.

<span class="mw-page-title-main">Kuehne + Nagel</span> Global transport and logistics company based in Schindellegi, Switzerland

Kuehne + Nagel International AG is a global transport and logistics company based in Schindellegi, Switzerland. Its main owner and operator is Klaus-Michael Kühne via his Kühne Holding and Kühne Foundation. The company was founded in 1890 in Bremen, Germany. During WWII the company played a key role in looting the possessions of European Jews as part of M-Aktion. It provides sea freight and airfreight forwarding, contract logistics, and overland businesses. As of 2023, it has nearly 1,300 offices in over 100 countries and nearly 79,000 employees.

<span class="mw-page-title-main">Schenker AG</span> German logistics company

Schenker AG is a German logistics company and a subsidiary of Deutsche Bahn, the German railway company. Within DB Logistics, the logistics branch of Deutsche Bahn, Schenker is responsible for land, sea, and air transport and contract logistics. Rail transport within DB Logistics is done under the DB Schenker Rail brand.

FLSmidth & Co. A/S is a Danish multinational technology company based in Copenhagen, Denmark. With almost 11,000 employees worldwide, it provides the global mining and cement industries with equipment and services. For the mining industry, the company provides technology for copper, gold, nickel, zinc and lithium mining, and for the cement industry, it provides technology for cement production. FLSmidth is listed on NASDAQ OMX Nordic Copenhagen in the C25 index and has offices in more than 60 countries worldwide.

<span class="mw-page-title-main">DB Schenker</span> German transportation and logistics company

DB Schenker is a division of German rail operator Deutsche Bahn that focuses on logistics. The company was acquired by Deutsche Bahn as Schenker-Stinnes in 2002. It comprises divisions for air, land, sea freight, and Contract Logistics.

SNCF Logistics was the division of the SNCF group responsible for freight transportation and logistics.

Livingston International is a North American provider of customs brokerage services. Livingston International provides customs brokerage, trade consulting and international freight forwarding services to importers and exporters throughout North America and around the globe. Headquartered in Toronto, Ontario, Canada, with U.S. headquarters in Chicago, Livingston has over 3,300 employees located at more than 125 border points, seaports, airports and other locations across in North America, Europe and Asia. Livingston is currently Canada's largest customs broker and third-largest in the United States.

<span class="mw-page-title-main">XPO, Inc.</span> American transportation company

XPO, Inc. is an American transportation company that conducts less-than-truckload shipping in North America. The company has headquarters in Greenwich, Connecticut, and has 564 locations globally.

<span class="mw-page-title-main">Toll Domestic Forwarding</span>

Toll Domestic Forwarding (TDF) is a division of the Toll Group specialising in freight forwarding by road, rail and sea within and between Australia and New Zealand.

<span class="mw-page-title-main">CEVA Logistics</span> Global logistics and supply chain company

CEVA Logistics is a global logistics and supply chain company that operates both freight management and contract logistics. It was purchased by the CMA CGM group in 2019. Since this purchase, CMA CGM has acquired other logistics and transportation companies to merge with and develop CEVA Logistics, such as Ingram Micro Commerce & Lifecycle Services and GEFCO.

<span class="mw-page-title-main">Lineage (company)</span> International warehousing and logistics management corporation

Lineage, Inc. is the world's largest temperature-controlled warehouse real estate investment trust (REIT), owned by Bay Grove, LLC. Entering international markets in 2017, Lineage grew into the world's largest refrigerated warehousing company with a capacity exceeding 3 billion cubic feet and acquiring more than 100 companies through the end of 2023. Lineage operates over 450 facilities across 18 countries, with approximately 26,000 team members globally in North America, Europe, and Asia Pacific.

References

  1. 1 2 3 4 5 6 "Global Transport and Logistics - DSV". dsv.com.
  2. ↑ "Index info - NASDAQ OMX NORDIC". nasdaqomxnordic.com.
  3. 1 2 3 4 5 6 "Annual Report 2009" (PDF). DSV. Archived from the original (PDF) on 6 January 2017. Retrieved 31 March 2010.
  4. ↑ "eft - Supply Chain & Logistics Business Intelligence". eyefortransport.com. Archived from the original on 2022-03-10. Retrieved 2010-09-14.
  5. ↑ "Panalpina and DSV agree to join forces". DSV A/S. 2019-04-01. Retrieved 2019-04-03.
  6. ↑ "DSV completes acquisition of Panalpina". DSV A/S. 2019-08-19. Retrieved 2019-08-19.
  7. ↑ "DSV builds Europe's largest logistics centre". Global Cargo News. Archived from the original on 2 July 2020. Retrieved 2 July 2020.
  8. ↑ "DSV Panalpina acquires Globeflight". 3 December 2020.
  9. ↑ "DSV Panalpina completes acquisition of Globeflight | DSV".
  10. ↑ "DSV Panalpina and Globeflight officially tie the knot". 4 May 2021.
  11. ↑ https://mybroadband.co.za/news/it-services/482665-best-courier-services-in-south-africa.html [ bare URL ]
  12. ↑ "DSV Panalpina acquires Agilitys Global Integrated Logistics business". www.dsv.com. Retrieved 2021-05-18.
  13. ↑ Jacobsen, Stine; Gronholt-Pedersen, Jacob; More, Rachel (13 September 2024). "DSV to create global logistics giant with $15.9 bln Schenker takeover". Reuters.
  14. ↑ DSV to acquire DB Schenker Daily Cargo News 16 September 2024
  15. ↑ "Extraordinary general meeting of DSV A/S 24 September 2019". DSV A/S. 2019-09-24. Retrieved 2019-09-24.
  16. ↑ "Extraordinary general meeting of DSV A/S 8 September 2021". DSV A/S. 2019-09-08. Retrieved 2021-09-14.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.