[070321.EN.BIZ] DSV Sees 22.4pc Revenue Increase In 2020

 

DE Sammensluttede Vognmaend (DSV) Panalpina saw its revenues jump 22.4 per cent year on year to US$18.7 billion, reports London's Air Cargo News.

The jump is leading to the company to take aim at another large acquisition following the integration of Panalpina.

Performance was boosted with the inclusion of Panalpina from the second half of 2019 and higher rates.

The forwarder's airfreight division saw 2020 revenues increase 64.9 per cent to $7.3 billion, while volumes increased 18.8 per cent to 1.3 million tonnes.

"The global airfreight market was significantly impacted by the Covid-19 crisis during a volatile 2020 and we estimate that market volumes were 13 to 15 per cent below 2019," said the company.

"As a large part of passenger planes were grounded, the bellyhold capacity was missing, and total available capacity was more than 20 per cent below pre-Covid-19 levels," said the company.

"The demand for airfreight exceeded available capacity on most trade lanes, leading to historical high rate levels. Geographically the demand was strongest for exports from Asia during the year, whereas European exports were weaker," said the company.

"We expect that the airfreight market will remain challenging in the foreseeable future. It may take two years before inter-continental passenger traffic is back at 2019 levels, and the market will continue to rely on freighter aircraft capacity," said the company.

Source : HKSG / Photo : Air Cargo News.