DB Schenker, a subsidiary of Deutsche Bahn (DB), provided an update on its plan to sell the company during the announcement of its full-year results. Levin Holle, a member of the board responsible for finance and DB Schenker, announced that more than 20 parties had shown interest in purchasing the forwarder after DB initiated a bidding process. Bidders are expected to submit their offers in the coming days, with a decision on the buyer potentially being made in the second half of the year.
The sale process for DB Schenker officially began in December, a year after the company started exploring its options for a sale. Interested parties had a deadline to request additional information and submit registration documents. Shipping giant AP Moller Maersk, along with other companies like MSC, DSV, UPS, DP World, and Abu Dhabi Ports, were rumored to be interested in purchasing DB Schenker. However, DHL Group declared that they were not pursuing the acquisition.
DB Schenker reported lower volumes, revenues, and operating profits for the previous year, reflecting challenging market conditions. Despite the decrease in operating profit, the company stated that it was still higher than pre-Covid levels and had delivered a solid performance during the pandemic. E-commerce volumes showed growth throughout the year, and the airfreight market faced fluctuations in rates and earnings due to global uncertainties.
In comparison to other freight forwarders, DB Schenker’s air cargo volumes declined by 13.4% in the year, while Kuehne+Nagel saw an 11.2% decrease in volumes. DHL Global Forwarding experienced a 12.1% decline in air volumes. Overall, DB Schenker remains a reliable profit contributor with good prospects for the future, as stated by the company.
