DSV Group delivered solid financial results in the fourth quarter and for the full year 2025, despite a challenging and volatile market environment. Gross profit in Q4 2025 reached DKK 19.1 billion, and EBIT before special items was DKK 5.6 billion, largely driven by the contribution of the acquired Schenker. For the full year, EBIT before special items was DKK 19.6 billion, revenue increased to DKK 247.3 billion, and adjusted free cash flow reached DKK 16.3 billion, reducing net interest debt by more than DKK 7 billion since the acquisition.
The Schenker integration is progressing significantly faster than originally planned: approximately 30% of the work has already been completed in 2025, and DSV now expects to complete the process by the end of 2026, rather than the previously planned 2028. Schenker’s significant contribution drove growth in the Road and Contract Logistics segments, where EBIT increased to CZK 1.0 billion and CZK 1.5 billion, respectively, in the fourth quarter. Growth in Air & Sea was more moderate due to a weakening maritime market, but the integration partially offset the negative impact of market conditions.
DSV forecasts EBIT before special items of CZK 23.0–25.5 billion in 2026, including at least CZK 4 billion in additional synergies from the Schenker integration. Total expected annual synergies are estimated at CZK 9 billion, with full financial impact expected in 2027. DSV CEO Jens H. Lund noted that the transaction with Schenker has made the company a new global leader in the transport and logistics industry and created a solid foundation for further growth through its global network, digitalization, and the implementation of artificial intelligence-based solutions.