DSV estimated the integration of DB Schenker at €1.5 billion and accelerated the merger timeline.

DSV disclosed the cost of integrating DB Schenker, estimating total transaction and integration costs at approximately DKK 11 billion (€1.5 billion). According to the group’s 2025 annual report, the bulk of these costs will be incurred in 2025–2026. The company notes that the integration process is proceeding faster than initially planned, but is accompanied by higher short-term costs. In 2025 alone, DSV wrote off DKK 4.53 billion in special expenses, more than five times the previous year’s figure, putting pressure on net profit despite increased operating profit.

According to DSV, approximately 30% of the integration was completed in 2025, forcing the company to accelerate the process and defer some expenses. DSV now expects to fully complete the merger with DB Schenker by the end of 2026, rather than the previously planned 2028. Approximately CZK 6.5 billion in special expenses are forecast for 2026, bringing the overall integration bill to the previously announced level. These costs are unrelated to the purchase price of DB Schenker and include restructuring, the integration of IT systems and processes, the consolidation of networks and terminals, and other one-time expenses directly related to the transaction.

Despite the pressure from integration costs, DB Schenker’s operational contribution is already visible in DSV’s results, particularly in road logistics. In the fourth quarter of 2025, EBIT before special items in the Road division increased to CZK 1.01 billion from CZK 311 million the year before, while in the Contract Logistics segment, it rose to CZK 1.51 billion from CZK 531 million. For the full year 2025, the group’s revenue increased to CZK 247.3 billion, and EBIT before special items reached CZK 19.6 billion, but net profit decreased to CZK 8.46 billion due to high one-off expenses. DSV maintains its target for annual synergies from the transaction at approximately CZK 9 billion, expecting their full impact to be realized from 2027, and forecasts EBIT before special items in 2026 to be in the range of CZK 23–25.5 billion.