The company announced the targets at its Capital Markets Day in Hedehusene, Denmark, on 12 May, where it presented a new strategy titled “Leverage to Lead”. The update comes just over a year after DSV completed its acquisition of Schenker, creating one of the world’s largest transport and logistics groups.
According to DSV, the new financial targets are based on previously announced Schenker integration synergies of around DKK 9 billion (€1.2 billion), with full financial impact expected from 2027 onwards.
When DSV completed the Schenker acquisition in April 2025, the company said the synergies would come from the consolidation of operations, logistics facilities in Road and Solutions, back-office functions, finance and IT infrastructure. Schenker has been included in DSV’s consolidated financial statements since 1 May 2025.
DSV says the integration remains central to its plans, but the new strategy adds a second productivity target of similar size.
The next DKK 9bn is meant to come from AI
In addition to the Schenker synergies, DSV expects productivity improvements from AI, technology, network optimisation and operational improvements to add around DKK 9 billion (€1.2 billion) by 2030.
The company says the programme will apply across divisions and group functions. It describes the strategy as a way to improve productivity through artificial intelligence and technology, while further optimising its network and operations after the completion of the Schenker integration.
The announcement does not set out specific staffing measures linked to the productivity target. However, the scale of the figure shows that DSV expects the next phase of gains to come not only from the Schenker merger itself, but also from how the enlarged network is run.
Read more: What’s possible in logistics with AI agents
Road gets a return target to match Air & Sea
For the Road division, DSV has set a 2030 target of a conversion ratio above 35% and ROIC before tax above 20%. That puts Road in line with Air & Sea on the return target. Air & Sea is expected to reach a conversion ratio above 55% and ROIC above 20%, while Contract Logistics has been given a conversion ratio target above 35% and ROIC above 15%. At group level, DSV is targeting a conversion ratio of around 45% and ROIC before tax of around 20%.
The Road target is notable because road freight is often treated as a lower-margin, more fragmented business than air and sea forwarding. DSV’s target suggests the group expects its enlarged European road network, including the former Schenker operations, to deliver higher returns through consolidation, digitalisation and tighter operational control.
The Schenker deal also brought management changes in DSV Road. After the acquisition was completed, Helmut Schweighofer, previously CEO of Schenker’s Europe region, was named CEO of DSV Road.
The enlarged DSV is still hungry for deals
DSV says it still expects growth to come from both above-market organic growth and further M&A activity. The company says it will continue to use its global network, service offering and sector positions to support growth. Its capital allocation priorities remain unchanged: deleveraging when debt exceeds the target ratio, then investing in M&A or organic growth opportunities, and distributing capital to shareholders through buybacks and dividends.
The company is targeting net interest-bearing debt, including leasing liabilities, below 2.0 times EBITDA before special items.
No upgrade to 2026 guidance — yet
DSV also reconfirmed its full-year 2026 guidance. The group expects EBIT before special items of DKK 23 billion to DKK 25.5 billion (€3.1 billion to €3.4 billion), the same range given in its Q1 2026 interim report.
In the Q1 report, DSV said EBIT before special items rose 31.2% year on year to DKK 4.855 billion (€650 million), driven by Schenker and synergies, partly offset by negative organic earnings. The company also warned that the market outlook for 2026 remained uncertain because of macroeconomic and geopolitical risks.
