DSV A/S Shares Surge After Upward Guidance Revision

Shares of DSV A/S jumped on Friday after the Danish logistics giant raised its full-year guidance and pre-released third-quarter results that met expectations.

At 4:21 am (0821 GMT), DSV A/S was trading 6.2% higher at DKK 1,498.

The company anticipates adjusted EBIT for 2024 to be in the range of DKK 16 to 17 billion, up from its previous forecast of DKK 15.5 to 17.0 billion.

“We do not expect any revisions in the consensus,” stated analysts at Citi Research.

The upward revision has enhanced investor confidence, especially as DSV’s third-quarter adjusted EBIT landed around DKK 4.4 billion, aligning with analyst estimates and company expectations.

The improved full-year outlook is seen positively as the company proceeds with its major EUR 14.3 billion acquisition of DB Schenker.

Capital Raise Announcement

DSV plans to raise DKK 37.3 billion through the issuance of new shares. This offering will occur via a directed issue and private placement with an accelerated bookbuilding process, and it is fully underwritten.

Net proceeds from this capital raise will be directed towards partially financing the DB Schenker deal. This acquisition is expected to enhance DSV’s market position and operational scale, making the financing move crucial for its expansion strategy.

Strong backing for the capital raise is evident, with DSV securing DKK 21 billion in cornerstone commitments from key stakeholders.

If the DB Schenker acquisition succeeds, it would rank among the largest deals in the logistics industry, further solidifying DSV’s status as a global leader.