DSV Posts Strong Q1 Growth Driven by Schenker Integration

DSV A/S has reported a substantial increase in its first-quarter financial performance for 2026, primarily bolstered by the contribution of Schenker and strong results within its Contract Logistics division. The company's growth occurs against a backdrop of geopolitical instability. Management highlighted that the escalating conflict in the Middle East has disrupted global supply chains, creating specific headwinds for the Air & Sea segments of the business. Financial results show a massive surge in top-line growth, with revenue reaching DKK 70.42 billion, up from DKK 41.68 billion in the same period last year. Operating profit (EBIT) rose to DKK 4.86 billion from DKK 3.86 billion, while comprehensive income attributable to shareholders climbed to DKK 3.34 billion from DKK 1.31 billion. Looking forward, DSV has maintained its full-year 2026 EBIT guidance (before special items) in the range of DKK 23 billion to DKK 25.5 billion. This projection includes anticipated synergies from the Schenker acquisition, although the firm expects approximately DKK 6.5 billion in transaction and integration costs. Due to the ongoing integration process, the company expects its effective tax rate to remain elevated at approximately 28% for the remainder of the year. Following the report, DSV shares closed at DKK 1,665.50 on the Copenhagen Stock Exchange, marking a slight gain of 0.39%.