DSV Panalpina

DSV is engaged in the provision of transport and logistics solutions. As of Dec 31 2014, Co.'s operations comprised of three business areas. The DSV Air and Sea business provides air and sea freight services and designs project solutions. The DSV Road business provides road and rail transport services including full loads, part loads and groupage. The DSV Solutions business area specializes in contract logistics, which include logistic and warehousing solutions, as well as freight management, custom clearance, order management and e-commerce solutions.
  • TickerDSV
  • ISINDK0060079531
  • ExchangeNasdaq Nordic Copenhagen
  • SectorIndustrial Transportation
  • CountryDenmark

Analysts

Michael Field

Morningstar | DSV Updated Star Rating from 30 Apr 2019

Narrow-moat DSV released a solid set of Q1 results with underlying revenue rising almost 8% over the period and EBIT margins hitting 7.3%, a level that will become a record high if maintained for the full year. These numbers are in line with our expectations and we therefore we do not expect to make any changes to our near-term forecasts, nor to our DKK 440 fair value estimate. We believe the shares are currently overpriced. The sea and air divisions, which together generate 45% of group revenue, continued to grow volumes in the mid-single-digit range, despite market growth hovering either si...

Michael Field

Morningstar | DSV Attributes a Successful Q1 to the Past As It Looks Forward to Finalising Panalpina Deal

Narrow-moat DSV released a solid set of Q1 results with underlying revenue rising almost 8% over the period and EBIT margins hitting 7.3%, a level that will become a record high if maintained for the full year. These numbers are in line with our expectations and we therefore we do not expect to make any changes to our near-term forecasts, nor to our DKK 440 fair value estimate. We believe the shares are currently overpriced. The sea and air divisions, which together generate 45% of group revenue, continued to grow volumes in the mid-single-digit range, despite market growth hovering either si...

Michael Field

DSV Attributes a Successful Q1 to the Past As It Looks Forward to Finalising Panalpina Deal

Narrow-moat DSV released a solid set of Q1 results with underlying revenue rising almost 8% over the period and EBIT margins hitting 7.3%, a level that will become a record high if maintained for the full year. These numbers are in line with our expectations and we therefore we do not expect to make any changes to our near-term forecasts, nor to our DKK 440 fair value estimate. We believe the shares are currently overpriced. The sea and air divisions, which together generate 45% of group revenue...

Michael Field

Morningstar | DSV Company Report

Following its acquisition of UTi Worldwide in 2016 DSV A/S is the fourth-largest third-party logistics provider, or 3PL, globally, with around a 3% market share in a highly fragmented market. Unlike peer Kuehne + Nagel, which has been in the industry for more than 125 years, DSV has accumulated its market share primarily through a series of strategic acquisitions over the past 30 years, which it has successfully integrated into its own operations.The company boasts healthy operating margins in its airfreight and sea freight businesses, averaging more than 7.5% over the past 10 years. However, ...

Michael Field

DSV Company Report

Narrow-moat DSV delivered a very decent set of full-year results, in line with both our and the Street's expectations. Strong growth in gross profit and EBIT year over year of 8% and 15% respectively will undoubtedly be overshadowed by the outcome of the company’s bid for rival Panalpina, which was recently rebuffed by Panalpina’s largest shareholder but ultimately remains in play. We retain our DKK 440 fair value estimate and believe the current share price is speculatively pricing in future M&...

1 director bought

A director at DSV bought 230 shares at 94.720USD and the significance rating of the trade was 52/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board members alo...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

De Sammensluttede Vognmænd (DSV) - EGM 27 May 2019

In general, De Sammensluttede Vognmaend (DSV) is in compliance with the Danish regulations relating to the organisation and procedures of the Extraordinary General Meeting. Under ITEM 1, the board of directors seeks authorisation to issue shares in connection with the pending acquisition of Switzerland-based Panalpina Welttransport AG ("Panalpina"). In aggregate, the authority requested is limited to 30% of DSV's share capital and shareholders' pre-emptive rights may be waived. As a matter of principle, ECGS assesses capital increases for a specific purpose on a case-by-case basis. Under the ...

Expert Corporate Governance Service (ECGS)

DSV - March, 15 2019

In general, DSV is in compliance with the Danish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 5.1, it is proposed to re-appoint Mr. Kurt K. Larsen as Chairman of the board of directors. Mr. Larsen is NOT considered independent as he is a former CEO of DSV.  ECGS furthermore notes that Mr. Larsen is currently chairing the Company's  remuneration committee, which is not in accordance with its guidelines. As a consequence, ECGS normally would have recommended opposition. However, considering that the proxy card does not permit this, it recomme...

DSV – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Proxy Report - 08/03/2018

In general, DSV is in compliance with the Danish regulations relating to the organisation and procedures of the Annual General Meeting.Under ITEM 7.2, the board of directors seeks authorisation to issue shares. The authority requested is limited to 20% of the Company's share capital and thereby substantially exceeds ECGS' guidelines. ECGS recommends to vote OPPOSE. There are no further peculiarities.

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Emerging Markets breakdown, avoid; MSCI ACWI falls below 200-day moving average; Be selective in Japan Global markets have deteriorated considerably since we published our June International Macro Vision last week. The MSCI EM index has decisively broken down below the 60,000 major support level we identified, which coincided with a breakdown in relative strength. We're cutting EM to underweight and recommend reducing exposure. Additionally, the MSCI ACWI ETF has broken below its 200-day MA, leading us to believe additional consolidation is likely. ACWI long-term breadth as measured by the pe...

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