DSV completes acquisition of Schenker: DSV becomes the world’s largest logistics player

DSV A/S is pleased to announce the successful completion of its acquisition of Schenker from Deutsche Bahn. This transformative event marks the largest transaction in DSV’s history, significantly enhancing its global network, expertise, and competitive edge across all three divisions.

With the acquisition, valued at approx. DKK 106.7 billion (approx. EUR 14.3 billion), DSV is doubling its size and establishing the foundation for future sustainable growth. The combined company will have a revenue of approximately DKK 310 billion (approx. EUR 41.6 billion) and a workforce of close to 160,000 employees across more than 90 countries.

The announcement of the completion of the transaction is happening parallel to the company presenting its Q1 2025 results.

 Jens H. Lund, Group CEO, DSV: “With the completion of the acquisition of Schenker, we have reached a milestone in the history of DSV. We have been looking forward to completing the transaction and I am excited to welcome our new colleagues to the DSV organisation. With this acquisition, we become a world-leading player in global transport and logistics, at a time when global supply chains are more in focus than ever before, and our customers need a reliable and agile global network of services and products. By combining the two companies we will create a unique flexible platform for long-term financial growth to the benefit of our customers, employees, shareholders and other stakeholders.”

 Jochen Thewes, CEO, Schenker: “We are happy to complete this important milestone, and we are looking forward to joining forces with DSV. The dialogue throughout the last months has been very positive and we are very excited about the prospects of the combined business. DSV and Schenker are a strong match with many similarities in business models and services, shared values and high operational standards, and we look forward to getting to work.”

Winning as one

The combination will strengthen DSV’s global network and competitiveness and provide access to new markets and talents at a crucial time for global trade and supply chains.

Besides greater reach and better opportunities to create truly end-to-end solutions for our customers, the acquisition strengthens DSV’s platform for future growth and the development of a more sustainable, flexible and digitalised transport and logistics industry.

The combined company aims to use the strengthened market position to continue to grow through enhanced service offerings and economies of scale, achieving industry-leading margins.

Now, the integration of Schenker will begin. DSV is committed to a smooth transition and will approach the integration with due respect and careful consideration for customers, employees and stakeholders. During the integration process, it is a key priority to avoid disruptions and retain a high service level for our customers.

Expected financial impact and outlook for 2025

Schenker will be included in the consolidated financial statements of DSV from 1 May 2025. Based on preliminary estimates, annual synergies are estimated in the level of DKK 9 billion at end of 2028.

It remains DSV’s aspiration to lift the operating margins of the combined entity to a minimum of DSV’s levels within the respective business areas in 2028*.

Following completion of the Schenker acquisition, the preliminary expected impact from the acquisition is included in DSV’s full-year outlook for 2025.

* Based on a normalised full-year 2024 EBIT baseline for Schenker of approximately DKK 6.0 billion (EUR 800 million).