|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||45.76 - 45.76|
|52 Week Range||25.50 - 46.21|
|Beta (3Y Monthly)||1.35|
|PE Ratio (TTM)||87.03|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
The full might of the DSV Panalpina (CPH: DSV) transport and logistics behemoth was unveiled earlier today when the Denmark-headquartered company reported its first quarterly results since DSV completed the $5 billion purchase of Panalpina in August. Earnings before interest and taxes (EBIT) of DKK1,682 million represented a gain of 11.6%, while operating margin fell from 7.4% in the third quarter of 2018 to 6.9% in the third quarter of 2019. Given that around 90% of Panalpina's revenue was generated from its air and ocean forwarding activities, the most striking third quarter year-on-year changes were evident in the integrated company's DSV Air & Sea unit.
An interview with DSV Panalpina's new chairman posted on the Danish company's website says the company's management will "focus 100% on the integration of Panalpina" for 12 to 18 months before thinking about another acquisition. DSV completed the acquisition of Switzerland's Panalpina in August. "Once we're 12-18 months into the integration of Panalpina and we can affirm we're on track, then I think we'll start to talk about the possibility of boosting organic growth through another M&A. The industry is still very fragmented and there's lots of scope for further consolidation," said Thomas Plenborg, who was named chairman of the Copenhagen-based logistics company in September after Kurt Larsen retired at the company's annual meeting last month.
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The global air freight market struggled during the first three months of the year as a slowing trade environment took a toll. Declines in air volumes were reported by DHL, Kuehne + Nagel, Expeditors International and C.H. Robinson Worldwide Inc. (NASDAQ: CHRW). DHL attributed its declines to a combination of "selective stance" and strong market levels in the previous year.
Danish freight forwarder DSV has reported further revenue and profit growth in the first quarter of this year as the company prepares for its merger with Swiss operator Panalpina later this year. Regulatory approval for the merger has yet to be achieved, but DSV believes that the merger with Panalpina will create the second-largest airfreight forwarder in the world, measured by volume. The combined volumes of the two companies will handle 1.5 million tonnes of airfreight annually with a total of $17 billion revenue.
Panalpina, an international freight forwarding and logistics company, reported $0.82 (Swiss Francs, or CHF) per share in earnings for the first quarter of 2019 compared to $0.72 CHF for the same period last year. This is an "in-line report" for the Swiss company according to Seeking Alpha's estimate. This is the first report from the company since the announcement earlier this month that Panalpina would be acquired in a $4.6 billion deal by Danish competitor DSV.
Danish logistics giant DSV has offered to buy Swiss logistics major Panalpina, quoting a price of 195.8 Swiss francs per share in a deal worth around $4.6 billion. The initial bid was a stock-and-cash offer of 170 Swiss francs per share in January, which was increased to an all-cash bid of 180 Swiss francs per share in February. If this newly framed deal goes through, the merged company would be the world's fourth-largest freight forwarder in terms of revenue with an excess of $17 billion per year – behind only DHL, Kuehne & Nagel, and DB Schenker.
Take Panalpina Welttransport AG. Having almost 50 percent of its shares owned by a philanthropic foundation hasn’t helped. Rather than cash out, it’s clear the Ernst Goehner Foundation wanted to stay invested after all.
COPENHAGEN/ZURICH (Reuters) - Swiss logistics group Panalpina has bowed to an increased 4.6 billion Swiss francs ($4.6 billion) bid from Danish rival DSV, ending a more than two month takeover battle designed to build scale in the consolidating transport sector. DSV, whose Chief Executive Jens Bjorn Andersen has been on the hunt for targets to broaden his company's global reach and help cut costs, said on Monday Panalpina had accepted an all-share offer of 2.375 DSV shares for each Panalpina share. Shares in DSV rose 2.5 percent in early trade while Panalpina shares jumped 15 percent.
ZURICH (Reuters) - Shareholders in Swiss freight forwarder Panalpina should reject its largest investor's proposal to remove a voting rights cap, proxy adviser Glass Lewis said on Tuesday. It cited concerns ...
Panalpina is looking to consolidate, and not be consolidated, as it says it wants to combine its logistics business with that of another company. Meanwhile putative suitor DSV continues to woo the Swiss freight forwarder with a revised offer. Agility's logistics revenue primarily comes from inventory management, order fulfilment and transportation services, along with ocean and air freight forwarding.
Danish logistics group DSV A/S sweetened its offer for Panalpina to $4.3 billion (£3.4 billion), with a tug of war escalating on Friday over the Swiss company as it weighs a separate deal with Kuwait's Agility Group. DSV raised its bid for Panalpina to 180 Swiss francs per share in cash last week from the previous cash-and-shares offer worth around 170 francs, the Danish company said. DSV went public with its raised offer after Panalpina and Agility Group announced a possible tie-up.
ZURICH (Reuters) - Swiss freight forwarder Panalpina could buy the logistics business of Agility Group, with the Kuwaiti company potentially taking a stake in Panalpina, people familiar with preliminary ...