The fifth-largest ocean freight forwarding giant in the world is about to be sold！
DB Schenker is about to be sold
According to reports, the German government and German state-owned railway operator Deutsche Bahn have agreed to sell DB Schenker, the logistics subsidiary of Deutsche Bahn. Deutsche Bahn will approve the sale as soon as possible, possibly this year. DB Schenker is valued at between 12 billion and 20 billion euros, but its valuation will be affected by global economic conditions, the Russian-Ukrainian conflict, and the ongoing energy crisis.
DB Schenker is doing well in the first half of 2022
As one of the world’s leading logistics providers, DB Schenker’s logistics business performed strongly in the first half of 2022. Essen, Germany-based DB Schenker employs 75,000 people worldwide and accounts for more than a third of Deutsche Bahn’s total revenue. According to the financial report, the adjusted EBIT of Deutsche Bahn was 876 million euros, and the operating income was about 28 billion euros, a year-on-year increase of 28.4%. Deutsche Bahn is profitable for the first time since Covid-19, returning to growth in operating profit. Compared with the same period in the first half of 2021, DB Schenker’s total revenue in the first half of the year increased by 35.8% year-on-year to 14.2 billion euros, and operating profit almost doubled to about 1.2 billion euros. According to the list of the top 50 global ocean freight forwarders in 2022 published by the magazine “Transport Topics”, DB Schenker ranks 5th in the world’s ocean freight forwarders and 4th in air freight forwarders in 2022.
What will happen to DB Schenker
In fact, the news that DB Schenker will be sold began last year. The sale of DB Schenker was valued at 8 billion to 10 billion euros at the time. In August last year, the Danish freight forwarding giant DSV made it clear that they were interested in acquiring DB Schenker. DSV Chief Financial Officer Jens Lund said at the time that if DB Schenker planned to sell, DSV would be interested in discussing merging with DB Schenker to create the world’s largest logistics company. In 2021, DSV has become the fourth largest ocean freight forwarder in the world and the third largest air freight forwarder in the world, surpassing DB Schenker in scale. Once DSV completes the acquisition of DB Schenker, it will become the world’s largest freight forwarding company.
What is the future of DB Schenker in the end? Let’s wait and see!
