Deutsche Bahn mulls DB Schenker sale options
31 / 07 / 2023
Photo: DB Schenker
Rail and logistics giant Deutsche Bahn (DB) is continuing to assess its options for selling its forwarding subsidiary DB Schenker.
Levin Holle, member of the Management Board for Finance and Logistics, noted that the business is performing well, despite much more challenging market conditions than in 2022.
Speaking during the DB Group’s first half 2023 interim results press conference on July 27, Holle said: “As you know, we are looking into our options regarding a sale of DB Schenker. This analysis is going as planned. It will take some more time, as is normal in these situations.”
DB Schenker’s revenues totalled more than €10bn in the first six months of 2023 – roughly 29% less than in the “record-setting” first half of last year, said Holle.
“In a market with much different conditions, our logistics unit still generated a significant operating profit of EUR 626 million in the first half of 2023.
“Operating profit was roughly 47% lower than in the first six months of 2022, but it is still nearly three times higher than in the first half of 2019.
“That means that profits at DB Schenker are at a much higher level than it was before the Covid19 pandemic.”
In December, DB assembled a team to examine the potential sale of up to 100% of DB Schenker to focus on its core rail business.
There has been speculation for a number of years that DB had been unsure what it wanted for its freight forwarding subsidiary.
Deutsche Post-owned DHL Global Forwarding is one company that could potentially be interested in buying DB Schenker.
Danish forwarder DSV has also previously expressed interest in purchasing the forwarder.