Danish Transport Giant Girds for ‘Chaotic’ U.K.-EU Negotiations

(Bloomberg) -- DSV Panalpina A/S, the world’s fourth-largest freight forwarder, is bracing itself for a turbulent year of negotiations between the U.K. and the European Union after Brexit.

“I don’t think the negotiations over the exit deal will become anything else than chaotic,” Chief Financial Officer Jens Lund said in a telephone interview in Copenhagen.

“Many companies need to adjust to the changes that are coming, and then we need to react to make sure the goods can keep flowing,” he said. “The changes obviously hinge on how the EU negotiations pan out, but based on what we have seen so far, we expect them to be chaotic.”

The company, which operates in more than 80 countries, including the U.K., on Friday reported fourth-quarter results that largely met analyst estimates. It listed Brexit and the coronavirus as posing potential headwinds to its 2020 outlook.

Read more: DSV Steps Up Shareholder Rewards With $900 Million Buyback

To contact the reporter on this story: Christian Wienberg in Copenhagen at cwienberg@bloomberg.net

To contact the editors responsible for this story: Christian Wienberg at cwienberg@bloomberg.net, Nick Rigillo

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