DSV Archives - The Loadstar

Aesop’s grape-hungry fox has a lesson for DHL’s dealmakers

Alessandro Pasetti — Tue, 05 Nov 2024 12:32:10 +0000

If you have followed our DeskOne live coverage of the conference call that followed the Q3 24 release of DHL Group’s results today, you may well be aware that headline group numbers were, as expected, broadly in line with preliminary figures released last week.
A couple of substantial add-ons…
… however follow, for your perusal: air freight performance in DHL Global Forwarding (GF) was disappointing in terms of gross profit (GP) per unit, ...

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‘My Alphabet DSV’ soup

Alessandro Pasetti — Wed, 30 Oct 2024 12:35:08 +0000

“If we look at the Schenker integration plans, (…) we prepare as much as we can before we close the [Schenker] transaction. So this means that right now, as you can imagine, there would be some activities that would be in Deutsche Bahn. The carve-out of them is basically sort of taking place right now.”
Those were the remarks of DSV CEO Jens Lund during last week’s call with equity analysts ...

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Conf call redux: DSV – ‘the logic still applies’

Gavin van Marle — Thu, 24 Oct 2024 11:42:46 +0000

Danish freight forwarder DSV, flushed with success after winning the bidding war for DB Schenker, held its third-quarter call with analysts yesterday in which chief executive Jens Lund and CFO Michael Ebbe did a deep dive into some fat numbers.
What follow is in no way a verbatim transcript of that call…
Jens Lund: Thank you operator and welcome one and all to our Q3 highlights – we’ve got the usual business ...

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Kuehne + Nagel – applying Say’s Law

Alessandro Pasetti — Thu, 24 Oct 2024 11:28:30 +0000

One quick takeaway for the shippers, drawing from the conference call between Kuehne + Nagel (K+N) and equity analysts following a mixed Q3 24 update released yesterday by the Swiss freight forwarder, stands out: you must deserve to be on K+N’s book as a client and to do so, please be prepared to pay up for that privilege.
But there’s more to it
We need to think about a more relevant qualitative ...

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DSV and K+N see margins squeezed hard in third quarter

Alexander Whiteman — Wed, 23 Oct 2024 12:42:27 +0000

Two of the largest global freight forwarders, DSV and Kuehne + Nagel, have reported Q3 results that indicate similar pressures on margins – although the Danish 3PL appears to manage the squeeze better.
A strong performance from K+N’s sea freight division saved the Swiss group from a quarter of year-on-year decline.
The group’s ocean division experienced a year-on-year gross revenue surge of 31.7% in Q3, hitting CHF2.9bn ($3.35bn), a marked contrast to ...

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SABC: DSV fires 250 employees for unprotected strike

LoadstarEditorial — Mon, 21 Oct 2024 13:48:44 +0000

SABC News reports:
DSV has dismissed 250 of its employees in the wake of an unprotected strike.
The workers claim their dismissal was unfair.
The South African Equity Workers Association (SAEWA) has also lodged an unfair dismissal complaint with the Bargaining Council, claiming that proper processes were not followed.
The dismissed workers also claim that not all workers who took part in the strike were dismissed.
SAEWA representative, Isaac Jacobus says they are waiting for ...

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Wall Street activist Dan Loeb invests in DSV

Alessandro Pasetti — Thu, 17 Oct 2024 16:10:06 +0000

New York-based hedge fund Third Point, which is run by activist investor Dan Loeb, disclosed in a letter to investors yesterday, 16 October, that during the third quarter it “had initiated a new position” in Danish freight forwarder DSV.
Background
Loeb has historically pushed to break up many of the targets where his speculative fund invested in recent years, including Shell, Prudential and Sony.
And it was three years ago when, in a ...

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Timeline essential: Lethargic Kuehne + Nagel? ‘Just take it private’

Alessandro Pasetti — Mon, 14 Oct 2024 11:36:45 +0000

With rival DSV clinching its transformational Schenker deal, its stock rallying to new highs, lonely Kuehne + Nagel (K+N) is preparing for a “new supply chain reality“, ShippingWatch duly reported last week.
Board member and head of Sea Logistics Michael Aldwell, a disciple of K+N legend Otto Schacht, told the Danish press that the Swiss forwarder will do what needs to be done to keep its leadership at the top of ...

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Keep on trucking with DSV Schenker? Let’s hope so…

Alessandro Pasetti — Thu, 10 Oct 2024 12:12:45 +0000

While DSV CEO Jens Lund today, following another Dkr1,563.5-52-week high on the stock market a day earlier…
… shared on LinkedIn the latest… “pleasure” he felt “welcoming” Schenker CEO Jochen Thewes “to our headquarters in Hedehusene Denmark” recently… “for a positive discussion about the future”…
… with focus*… “on how we can best leverage the strengths of our people, networks, and capabilities to maximise benefits for our customers and employees”…
(*I figured the ...

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DHL, Mærsk, Kuehne & DSV – tears & rain, hope & faith

Alessandro Pasetti — Tue, 08 Oct 2024 11:17:01 +0000

Following the excitement of last week’s updates from DSV on its €14.3bn Schenker purchase, related funding and narrowed 2024 guidance, our focus has soon enough shifted to the Q3 24 earnings of the main actors in transport and logistics (T&L).
Reporting season opens stateside next Tuesday, 15 October, with intermodal and land services provider JB Hunt, which as usual will take the pulse of T&L investors – however, saying little about ...

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