The Danish forwarder recorded a sharp increase in airfreight volumes driven by the Schenker acquisition, though organic growth slightly declined amid softening average rates.

DSV reported handling 579,000 tonnes of airfreight in the third quarter of 2025, representing a 64% year-on-year increase, largely fueled by its integration of Schenker. However, organic airfreight volumes declined by 1.6% compared with the same period last year.

“DSV’s airfreight volumes grew by 64% in Q3 2025 and by 37% in the first nine months compared to the same periods last year,” the company stated. “Organic airfreight volume growth decreased by 1.6% in Q3 2025, but when adjusted for the exit of low-yielding volumes, organic growth was broadly in line with the addressable market.”

Airfreight revenue reached Dkr21.1bn, up 50% year on year, while gross profit rose 7.8% to Dkr4.6bn. DSV noted in its management commentary that organic gross profit remained stable versus last year, supported by higher profitability in airfreight.

The company highlighted that the Technology vertical contributed strongly to growth, while the Automotive vertical continued to experience downtrading trends.

According to DSV, global airfreight trade remained relatively stable during the quarter and was in a solid position compared with the overall market. “Despite ongoing trade uncertainties, our addressable global airfreight market, excluding e-commerce and perishables, maintained a stable trend from the previous quarter. We estimate low single-digit growth in Q3 2025,” the company added.

Average airfreight rates were slightly lower year on year, as capacity marginally exceeded demand and market volatility was influenced by U.S. tariff policies and de minimis exemption regulations. Stronger volumes on other trades, particularly imports into Europe, helped maintain market stability.

Revenue for the Air & Sea division reached Dkr38.7bn, up 36%, though on an organic and constant currency basis, it declined 5.4% due to lower sea freight rates and volumes. The division’s gross profit rose 0.5% to Dkr9.2bn, primarily driven by the Schenker contribution and higher airfreight yields.

Group revenue totaled Dkr72bn in Q3, marking a 63.1% year-on-year increase. However, on an organic and constant currency basis, revenue declined by 0.4%. Gross profit reached Dkr19.4bn, up 76.1%, with organic growth of 5.4% in constant currencies.

DSV said its overall organic performance was impacted by softer market conditions in Air & Sea and Road, partly offset by improved results in Contract Logistics.

Jens Lund, DSV’s Group CEO, said: “During the third quarter, we made significant progress on the Schenker integration, which has accelerated our synergies. This is our largest and most complex integration to date, and we are very satisfied with its current progress. Through this integration, we are strengthening our organization and global network to better support our customers’ supply chains. Despite tough market conditions and lower volumes in some sectors, our commercial approach is driving increased activity among our largest customers.”

He added that DSV will closely monitor productivity and financial performance while continuing to realize further integration benefits.

Schenker has been consolidated into DSV’s financial statements since May 1, 2025, with Q3 2025 being the first quarter to fully reflect its impact.

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Edited by: Cofast News Editorial Team (according to Air Cargo News)

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