Deutsche Bahn starts sales process for logistics subsidiary Schenker
DB Schenker is the Group's profit driver. In 2022, the subsidiary achieved a record profit of 1.8 billion euros before interest and taxes. In the first half of 2023, the operating profit amounted to 626 million euros. According to "Handelsblatt", which cited financial circles, the company is valued at twelve to 15 billion euros.
The Supervisory Board of Deutsche Bahn had already decided to sell Schenker in December 2022. Deutsche Bahn wants to focus on its core business, rail transportation in Germany. A sale would "significantly advance Deutsche Bahn's focus on its core business and thus the implementation of the Strong Rail strategy", the Group explained on Tuesday.
Deutsche Bahn is heavily indebted with over 30 billion euros. "The condition for the sale" of Schenker is "that it must be clearly economically advantageous for Deutsche Bahn in every respect", the Group explained. The final decision on the sale of DB Schenker will be presented separately to the Supervisory Board of Deutsche Bahn at the end of the sales process. The process is subject to developments on the capital markets.
According to Deutsche Bahn, Schenker itself can grow with "more capital and flexibility". The company is "very well positioned in all relevant market segments - land transport, air and sea freight - as well as in comprehensive and specialized logistics solutions compared to the rest of the industry". With around 76,600 employees at over 1850 locations in more than 130 countries, the company is one of the world's leading logistics service providers.
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- The German railroad company, DB, has initiated the sales process for its logistics subsidiary, Schenker, which is valued at twelve to 15 billion euros according to Handelsblatt.
- Despite being the Group's profit driver, Deutsche Bahn aims to sell Schenker to focus on its core business, rail transportation in Germany, and advance its Strong Rail strategy.
- The German railroad is heavily indebted with over 30 billion euros, and the sale of Schenker must be economically advantageous for DB in every respect, as stated by the Group.
- A German newspaper, Stern, reported that Deutsche Bahn believes Schenker can grow further with more capital and flexibility in its operations, given its strong position in various market segments.
- The German logistics subsidiary, Schenker, operates as a subsidiary of the German railroad company, DB, and is one of the world's leading logistics service providers, with around 76,600 employees at over 1850 locations in more than 130 countries.
Source: www.stern.de
