DSV A-S Completes Acquisition of Schenker, Boosts Financial Outlook

In a significant move within the logistics industry, DSV A-S, a leading transportation and logistics company based in Hedehusene, Denmark, has completed the acquisition of Schenker, a global freight forwarding and contract logistics business operated by Deutsche Bahn AG. This all-cash transaction, announced on September 13, 2024, and finalized on April 30, 2025, has an enterprise value of approximately DKK 106.7 billion (EUR 14.3 billion).

Strategic Expansion and Financial Growth

The acquisition positions DSV as a world-leading player in the transport and logistics sector. DSV’s successful track record of integrating acquired companies is expected to facilitate Schenker’s seamless integration into its operations, aligning with DSV’s growth strategy. This strategic move is anticipated to lay the foundation for sustainable growth in the industry.

In its interim financial report for Q1 2025, DSV reported higher earnings compared to the same period last year, driven by improved gross profit, particularly in its Air & Sea segments. The gross profit for the period improved by 6.2%, and EBIT before special items was 4.8% higher than the previous year. Additionally, DSV achieved strong adjusted free cash flow generation, which improved to DKK 3,165 million in Q1 2025.

Upgraded Financial Guidance

Reflecting the positive impact of the Schenker acquisition, DSV has upgraded its full-year 2025 guidance for EBIT before special items to DKK 19.5-21.5 billion, up from the previously projected DKK 15.5-17.5 billion. This adjustment underscores the anticipated benefits of the acquisition in enhancing DSV’s financial performance.

Industry Perspective

Tobias Meyer, CEO of DHL, commented on the acquisition, noting that while it may not lead to significant changes in the European logistics market, it is a positive development for the industry’s structure. Meyer expressed respect for DSV as a potent competitor and wished them success in their endeavors.

Company Overview

DSV A-S operates in the Ground Transportation sector within the Industrials industry, offering a comprehensive range of services including road, marine, and air transport, as well as warehousing and logistic solutions. The company is listed on the OMX Nordic Exchange Copenhagen AS, with a market capitalization of DKK 307,410,000,000 and a price-to-earnings ratio of 27.11. As of April 28, 2025, DSV’s closing price was DKK 1,288.5, with a 52-week high of DKK 1,563.5 and a low of DKK 980.4.

This acquisition marks a pivotal moment for DSV, reinforcing its position as a leader in the logistics industry and setting the stage for future growth and expansion.