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EBIT before special items reached DKK 4,855 million (about USD 766.6 million), up 31% from Q1 2025
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Revenue jumped 68.9% to DKK 70,416 million
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The Middle East conflict has impacted first-quarter performance, resulting in more disruptions to customers’ supply chains, especially within air and sea freight
DSV Group delivered a strong first‑quarter performance despite global market headwinds and geopolitical uncertainty. EBIT before special items reached DKK 4,855 million (about USD 766.6 million), up 31% from Q1 2025, driven primarily by the successful integration of Schenker and robust results in Contract Logistics.
The Schenker integration continues at pace, with operations in more than 50 countries now fully or partially integrated. DSV reiterates expected synergies of DKK 9 billion, with full impact by 2027. For 2026, incremental synergies of at least DKK 4 billion are anticipated, adding to those realized in 2025.
Revenue jumped 68.9% to DKK 70,416 million, while gross profit increased 78% to DKK 18,903 million. Adjusted free cash flow totaled DKK 1,517 million, reflecting seasonal factors and temporary working‑capital effects. The company maintains its full‑year EBIT guidance of DKK 23.0–25.5 billion before special items.
Performance varied across divisions. Air & Sea faced a 4.9% EBIT decline due to lower yields and currency headwinds, while Road achieved 144% growth, supported by Schenker’s contribution. Contract Logistics surged 180%, benefiting from higher warehouse utilization and consolidation gains.
Group CEO Jens Lund, in a statement, said: “Our Q1 results underscore DSV’s resilience and adaptability amid complex market conditions and geopolitical unrest. We remain focused on employee safety, customer support, and leveraging technology and AI to strengthen our global leadership.”
Special items related to the Schenker acquisition totaled DKK 1,453 million in Q1, with cumulative costs of about DKK 6 billion since the transaction. Integration remains on track for completion by end‑2026.
READ: DSV, Schenker seal PH integration as global merger concludes
