DSV reported higher earnings in the second quarter of 2026 despite geopolitical uncertainty and volatile market conditions. The logistics group also narrowed its full-year earnings guidance as the integration of Schenker continues to deliver synergies. Second-quarter revenue increased to DKK 76.7 billion from DKK 62.0 billion a year earlier. EBIT before special items rose 32.5% to DKK 6.3 billion, while gross profit increased 17.5% to DKK 20.3 billion. The company said earnings benefited from Schenker’s contribution, integration synergies and strong performance in its Air & Sea and Contract Logistics divisions. Air & Sea leads growth The Air & Sea division reported EBIT before special items of DKK 3.8 billion, up 9.4% year-on-year. DSV attributed the improvement to stronger air freight margins, higher gross profit and Schenker’s contribution. The division’s conversion ratio improved to 42.4%, the first increase since the Schenker integration began. Contract Logistics posts strongest increase Contract Logistics delivered EBIT before special items of DKK 1.5 billion, an increase of 111.2%. The growth was driven by continued demand from technology customers, particularly in the cloud and data centre sectors, together with Schenker’s contribution. Road division faces operational challenges The Road division reported EBIT before special items of DKK 999 million, up 90.5% from a year earlier. However, DSV said operational challenges in several European markets affected productivity and commercial performance during the Schenker integration. The company has introduced management changes and operational measures to improve results. Schenker integration advances DSV said the integration of Schenker remains on schedule. More than 60 countries, including Germany, have either completed integration or are currently undergoing the process. The company continues to expect annual synergies of DKK 9 billion, with the full financial benefit expecte