Financial Data and Key Metrics Changes - The company reported revenue of $7.4 million for Q2 2025, marking a 31% increase year over year [31] - Adjusted EBITDA for Q2 was negative $2.5 million, an improvement from negative $3.1 million in Q2 2024 [32] - Gross margin on IFRS basis was approximately 67%, up from 65% in Q2 last year [32] Business Line Data and Key Metrics Changes - Platform revenue reached $2.5 million, up 23% year over year, marking the fourth consecutive quarter of growth exceeding 20% [31] - Solutions revenue increased by 36% year over year to $4.9 million, reflecting proactive expansion of product capabilities [31][24] Market Data and Key Metrics Changes - The air cargo market saw a 3% increase in volumes compared to Q2 last year, despite challenges from tariff changes [14] - Ocean freight rates rose 43% from Q1 but were still 11% lower than last year, indicating capacity growth and potential overcapacity [15] Company Strategy and Development Direction - The company aims to digitalize international freight, positioning itself as a leading global freight platform [10][11] - Strategic expansion includes adding new carriers, with a total of 75 carriers now on the platform, enhancing coverage on critical routes [19] - The company is focused on increasing liquidity in ocean capacity and modernizing IT among ocean carriers [21][23] Management's Comments on Operating Environment and Future Outlook - Management noted that while tariffs have created some headwinds, the overall impact is minor compared to the trend of digitalization driving long-term growth [17] - The company remains on track to achieve breakeven adjusted EBITDA by the end of 2026, with confidence in sustaining growth rates [33][75] Other Important Information - The company has a strong balance sheet with $34 million in cash and cash equivalents [33] - The company plans to participate in several investor events, including the H. C. Wainwright Annual Investment Conference in September [4] Q&A Session Summary Question: Why did the company raise full year GBV guidance but keep revenue largely unchanged? - Management indicated that the mix of transactions affects revenue, with some lower take rate transactions growing faster [38][39] Question: How is the ShipStar position helping drive solutions revenue? - The integration of ShipStar has enhanced the product portfolio, enabling cross-sell opportunities and improving data offerings [41][42] Question: What is driving the pressure for modernization in the ocean freight sector? - The need for digital connections is being driven by customer demand for efficiency, moving away from traditional methods like Excel sheets [52] Question: Are there any strategic changes or new growth areas being evaluated? - Management is continuously reviewing resource allocation but does not expect any major changes at this time [60][61] Question: How much did FX fluctuations impact Q2 profitability? - FX fluctuations significantly affected adjusted EBITDA, but the company has managed to hedge nearly 100% of its exposure [62][64] Question: How does the company expect to achieve breakeven by the end of next year? - Management is confident in reaching breakeven with current growth trends and operational expense management [75][76]

Group 1 - DSV A/S has fulfilled all closing conditions for the acquisition of DB Schenker from Deutsche Bahn AG, including European Commission approval and the expiration of the waiting period in the US [1] - The completion of the transaction is expected to occur on 30 April 2025, leading to a postponement of DSV A/S's interim results for Q1 2025 to the same date [2] Group 2 - Further details and preliminary financial information regarding the acquisition of Schenker will be announced alongside the interim results on 30 April 2025 [2]

Financial Data and Key Metrics Changes - For the full year 2024, the company reported consolidated EBITDA of $308 million, near the top of the guidance range of $300 million to $310 million [12] - Revenue for Q4 2024 was $633 million, an 87% increase compared to the same quarter of the previous year, largely driven by the Omni transaction [28] - Consolidated income from continuing operations for Q4 was $76 million, which included a goodwill impairment adjustment of $79 million related to the Omni Logistics segment [33][34] - Consolidated EBITDA for Q4 was $69 million, representing an 11% margin [35] Business Line Data and Key Metrics Changes - Revenue in the Expedited Freight segment decreased by $13 million or 4.7% to $266 million compared to the previous year's quarter, primarily due to a 5.8% decline in revenue per hundredweight [30] - The Intermodal segment's revenue remained flat at $60 million compared to Q4 2023, with a 3.2% increase in revenue per shipment offset by a 2.8% decrease in the number of trade shipments [32] - Omni Logistics generated $326 million in revenue for Q4, but saw a sequential decrease of $9 million or 2.7% compared to Q3 2024 [33] Market Data and Key Metrics Changes - The company noted a prolonged slowdown in the freight environment, impacting the LTL market and contributing to a decrease in volume across segments [22] - The pricing strategy shift from density-rated tariffs to class-based tariffs has affected profitability, with corrective pricing actions implemented in Q4 expected to yield improvements in Q1 2025 [26][81] Company Strategy and Development Direction - The company is focused on driving profitable long-term growth by expanding synergistic service offerings and rationalizing IT systems to improve data quality and decision-making [18][20] - A global shared services organization is being established to assist in integrating and managing back-office operations [18] - The company aims to shed poorly priced freight and improve yield through a revised pricing strategy [26][100] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to execute its strategy and enhance shareholder value, despite the challenges faced in 2024 [49] - The company anticipates that the foundational changes made in 2024 will benefit performance in 2025 and beyond [17] - Management acknowledged the importance of maintaining high service levels to drive customer retention and growth [23] Other Important Information - The company successfully delivered on targeted integration synergies and cost savings of $75 million, with total annualized savings exceeding $100 million [15][16] - The company ended Q4 with $382 million in liquidity, including $105 million in cash and $277 million available under the revolver [40] Q&A Session Summary Question: Impact of tariff and trade disruptions at Omni - Management indicated that while it is difficult to project the impact of tariffs on freight volumes, they do not foresee a major risk to the business from current trade dynamics [54][55] Question: Competition and market dynamics - Management acknowledged the presence of competitors but emphasized the company's focus on differentiation through technology and service quality [58] Question: Cash flow and balance sheet outlook - Management expressed optimism about becoming cash flow positive, especially after overcoming transaction expenses and legacy costs [63] Question: Drivers of Omni business performance - Management noted an increase in air and ocean volumes, supported by strong warehouse operations, despite a soft pricing environment [92][93] Question: Future pricing strategy and volume expectations - Management expects to see yield improvements while shedding unprofitable volume, indicating a focus on maintaining margins even in a challenging volume environment [100][101]