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Global transport and logistics firm DSV delivered a strong performance in 2025 despite market and trade volatility
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The Danish company’s full year gross profit was DKK66,859 million (about US$10.6 billion), up from DKK42,974 million in 2024
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For Q4 2025, gross profit was DKK19,119 million while earnings before interest and taxes before special items stood at DKK5,592 million, driven by the integration of Schenker
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DSV finalized the approximately $16 billion acquisition of German firm Schenker in April 2025
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Full integration seen by 2026, earlier than the previous expected period of end-2028
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For 2026, it expects current market uncertainties related to tariffs, geopolitical landscape and macroeconomic factors to persist
Global transport and logistics firm DSV delivered a strong performance in 2025 despite market and trade volatility.
The Danish company’s full year gross profit was DKK66,859 million (about US$10.6 billion), 55.6% up from DKK42,974 million in 2024, it said in a news release.
“In 2025, we delivered a solid financial result in line with our expectations, despite significant market challenges driven by trade tensions and macroeconomic uncertainties,” DSV Group CEO Jens Lund said.
For the fourth quarter 2025, gross profit was DKK19,119 million while earnings before interest and taxes (EBIT) before special items stood at DKK5,592 million, driven by the integration of Schenker.
DSV finalized the approximately $16 billion acquisition of German firm Schenker in April 2025.
Full integration is seen to be completed by 2026, earlier than the previous expected period of end-2028.
“While supporting our customers, we progressed faster than expected on the Schenker integration, the largest and most complex integration in DSV’s 50-year history. Thanks to the remarkable effort from all colleagues, we now expect to finalise the integration by the end of 2026, only 20 months after completion of the transaction,” Lund said.
“The acquisition has made DSV a new global leader in the transport and logistics industry. We have a strong position to benefit from our extensive global network and services, our commercial approach strategy and significant advancements within digitalisation and artificial intelligence,” he added.
READ: DSV, Schenker seal PH integration as global merger concludes
DSV said its earnings growth was primarily driven by the contribution of Schenker, especially within the Road and Contract Logistics divisions.
The Air & Sea division reported EBIT before special items of DKK3,071 million, corresponding to 4.1% growth in constant currencies compared to the same period the previous year. The softening of the market conditions, especially within sea freight, had a negative impact on earnings, offset by the positive contribution from Schenker.
The company’s Contract Logistics also reported significantly higher EBIT before special items of DKK1,514 million in the fourth quarter 2025, compared to DKK531 million in the same period 2024, with the growth driven by Schenker’s contribution and the commercial approach and consolidation of warehouses that led to higher utilization of capacity.
READ: DSV opens largest warehouse in PH
This year, DSV expects EBIT before special items in the range of DKK23,000 to 25,500 million, including synergies from Schenker.
“The current market uncertainties related to trade tariffs, the geopolitical landscape and macroeconomic factors are expected to persist,” DSV said. “These factors may impact the global trade environment and activity levels, and unforeseen changes may impact our financial outlook. We continuously monitor activity levels and will adjust capacity and our cost base as necessary to improve productivity.”
DSV’s Board of Directors have proposed ordinary dividends of DKK7.00 per share for 2025, the same level as in 2024.
