Danish logistics group DSV said on Thursday it is accelerating the integration of its recently acquired Schenker business and has raised its forecast for the financial benefits from the deal this year.
The company now expects a financial impact of around 800 million Danish Kroner from synergies in 2025, up from a previous forecast of 500 million to 600 million Danish Kroner.
The revision comes as DSV expects to complete 30% of the integration by the end of the year, double its previous estimate, according to the company.
DSV maintained its long-term goal of achieving annual synergies of 9 billion Danish Kroner by the end of 2028.
"During the third quarter, we have made significant progress on the integration of Schenker, which has accelerated our synergies," Group CEO Jens H. Lund said in a statement.
"This is our largest and most complex integration to date, and at this stage in the process, we are very satisfied with how it is developing."
For the third quarter, DSV reported operating profit before special items of 5.43 billion Danish Kroner, which included a 1.46 billion Danish Kroner contribution from Schenker.
Citing challenging market conditions, the company narrowed its full-year 2025 operating profit guidance to a range of 19.5 billion to 20.5 billion Danish Kroner, from a previous range of 19.5 billion to 21.5 billion Danish Kroner.