DSV Q3: Air freight yields up 8% despite 3% volume dip
Air freight gross profit rises 4% to DKK 5 billion (€670 million) as yields offset softer volumes; Group EBIT climbs 19.5% and 2026 guidance is narrowed.
DSV’s air freight business earned more on less cargo in the third quarter of 2026. Stronger yields more than made up for a drop in tonnage at the world’s largest freight forwarder.
Air freight gross profit rose 4% to DKK 5.01 billion (€672 million) in Q3 2026, up from DKK 4.74 billion (€636 million) in Q3 2025. It also grew from DKK 4.87 billion (€653 million) in Q2 2026. Average gross profit per tonne rose 8% to DKK 8,936 (€1,198) in Q3 2026, up from DKK 8,196 (€1,099) in Q3 2025 and DKK 8,722 (€1,169) in Q2 2026.
Volumes fell 3% to 561,000 tonnes in Q3 2026, down from 579,000 tonnes in Q3 2025. Strong growth in the Technology vertical partly offset the decline. Compared with Q2 2026, volumes edged up slightly from 558,000 tonnes.
DSV gave three reasons for the lower volume in Q3 2026 compared with Q3 2025: its own yield management initiatives, customers shifting from air freight to sea freight, and weaker activity in Europe. Market capacity stayed tight because of the continued impact of the Middle East conflict and strong demand linked to Technology and Cloud. Including acquisitions, air volumes grew 15% in the first nine months of 2026 compared with the same period of 2025. Air gross profit for the nine months reached DKK 14.14 billion (€1.90 billion), up 17.2% from DKK 12.10 billion (€1.62 billion).
This story was originally published by STAT Times. Read the full story at STAT Times →
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