DSV A/S said its first-quarter normalized net income amounted to 2.07 Danish kroner per share, compared with the S&P Capital IQ consensus estimate of 2.41 kroner per share.

EPS rose 27.8% year over year from 1.62 kroner.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 354.6 million kroner, an increase of 23.1% from 288.1 million kroner in the year-earlier period.

The normalized profit margin rose to 2.8% from 2.5% in the year-earlier period.

Total revenue grew 8.6% year over year to 12.60 billion kroner from 11.60 billion kroner, and total operating expenses increased 8.2% on an annual basis to 11.96 billion kroner from 11.06 billion kroner.

Reported net income grew 258.0% on an annual basis to 426.0 million kroner, or 2.49 kroner per share, from 119.0 million kroner, or 67 øre per share.

As of April 30, US$1 was equivalent to 6.65 Danish kroner.