GERMANY: Deutsche Bahn’s supervisory board has tasked the management board with examining a potential sale of up to 100% of its DB Schenker land, air and sea freight forwarding business.
Announcing the decision on December 15, DB said Schenker had made a significant contribution to the group’s economic growth; it generated €1.2bn in operating profit in H1 2022, the best mid-year EBIT in Schenker’s 150-year history.
However, in the medium term Schenker will require larger financial resources and more independence to make international acquisitions and retain its market position in the ‘ever more competitive’ logistics sector.
Divestment would sharpen DB’s focus on its core rail business under its Starker Schiene (‘strong rail’) strategy, with the proceeds from a sale remaining in the DB group and put toward reducing its debt.
‘In the light of the economic challenges being faced worldwide and current uncertainty on the capital markets’, DB said it does not want to rush a sale, which would only take place if it is was deemed to be of financial advantage.
