2018 was yet another record year for DSV, and we met our expectations and achieved strong organic growth across all business areas.
A year of geopolitical concerns
During 2018, several geopolitical issues caused uncertainty in the logistics markets – most notably the implementation of trade tariffs between the US and China and the ongoing Brexit negotiations. The direct impact on our activities and financial results in 2018, however, was limited.
In South Africa, Cyril Ramaphosa was elected president after Jacob Zuma stood down in early 2018, and the rest of the year was taken up with the gradual reorganisation of various state owned enterprises and prioritising of other government initiatives. Business remains, to some extent, in a “wait and see” pattern pending the general election in May, after which it is anticipated fresh political leadership will chart a bolder course to economic growth and social development.
Working closely with customers
We always work closely with our customers in South and sub-Saharan Africa to deal with political upheavals, labour strikes and natural catastrophes. Globally, we prepare – as best we can – for the different Brexit and "trade war" scenarios. Both here and abroad, we hope that contending parties reach good, sustainable agreements.
In DSV, we are great believers in free trade and globalisation, and our base assumption is that global trade will grow in line with GDP in the coming years. In any case, we are flexible and will adapt to changing market conditions if necessary.
READ MORE IN THE DSV 2018 ANNUAL REPORT