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Development in the year under review
- Efficient crisis management despite severe strain on the market environment caused by the Covid-19 pandemic.
- DB Schenker achieved the best result to date, with improvements in air freight and contract logistics in particular.
- Comprehensive measures for improving efficiency and digitalization.
DB Schenker | 2020 | 2019 | Change | 2018 | ||
absolute | % | |||||
Customer satisfaction (SI) | 74 | 71 | – | – | 71 | |
Shipments in land transport (thousand) | 108,166 | 107,132 | +1,034 | +1.0 | 106,468 | |
Air freight volume (export) (thousand t) | 1,094 | 1,186 | –92 | –7.8 | 1,304 | |
Ocean freight volume (export) (thousand TEU) | 2,052 | 2,294 | –242 | –10.5 | 2,203 | |
Total revenues (€ million) | 17,671 | 17,091 | +580 | +3.4 | 17,050 | |
External revenues (€ million) | 17,601 | 17,018 | +583 | +3.4 | 16,973 | |
Gross profit margin (%) | 35.2 | 36.1 | – | – | 34.8 | |
EBITDA adjusted (€ million) | 1,307 | 1,082 | +225 | +20.8 | 703 | |
EBIT adjusted (€ million) | 711 | 538 | +173 | +32.2 | 503 | |
EBIT margin (adjusted) (%) | 4.0 | 3.1 | – | – | 3.0 | |
Gross capital expenditures (€ million) | 817 | 662 | +155 | +23.4 | 273 | |
Employees as of Dec 31 (FTE) | 74,161 | 76,153 | –1,992 | –2.6 | 75,817 | |
Employee satisfaction (SI) | 3.9 | – | – | – | 3.8 | |
Share of women as of Dec 31 (%) | 36.3 | 36.1 | – | – | 35.7 | |
Specific greenhouse gas emissions (land transport) compared to 2006 (based on tkm) (%) | –26.0 | –24.0 | – | – | –25.8 | |
Specific greenhouse gas emissions (air freight) compared to 2006 (based on tkm) (%) | –15.9 | –9.1 | – | – | –9.3 | |
Specific greenhouse gas emissions (ocean freight) compared to 2006 (based on tkm) (%) | –67.6 | –64.3 | – | – | –61.2 | |
Customer satisfaction improved noticeably. Since 2017 we have been surveying between 12,000 and 15,000 customers annually in 28 countries on customer satisfaction.
Volume development reflected the weak macroeconomic development. With the exception of parcel carriage, volumes declined (in some cases significantly).
Economic development was very satisfactory overall: the operating profit figures developed positively as a result of an improvement in air freight, among other factors. By contrast, there was a downward trend in other areas, such as land transport. Gross profit was slightly above the previous year’s level (+0.8 %), which was driven by air freight. Adjusted for exchange rate effects, the increase was more significant.
Although income development was hampered by volume development, it was positive overall:
- Revenues increased. Positive effects from higher freight rates, especially in air freight, were partly offset by exchange rate effects and operating development, particularly in land transport.
- Other operating income (+5.9 %/€ +15 million) increased significantly, partly as a result of higher income from Covid-19-related grants.
Development on the expenses side was primarily driven by freight rate development. In contrast, effects from Covid-19 countermeasures had a dampening effect:
- Cost of materials increased (+4.7 %/€ +521 million), driven primarily by the freight rate development in air freight. Exchange rate effects and declines in other business areas, on the other hand, partially reduced expenses.
- Depreciation (+9.6 %/€ +52 million) increased due to higher capital expenditures (including leasing).
- Personnel expenses (–0.8 %/€ –28 million) fell slightly as a result of performance development and Covid-19 countermeasures.
- In addition, the significant decline in other operating expenses (–7.2 %/€ –126 million) had a positive effect and resulted primarily from lower rental and leasing expenses and lower expenses for travel, representation and temporary work due to Covid-19.
Capital expenditure activity has increased significantly. The increase was mainly due to leasing activities. Adjusted for this effect, the volume of capital expenditures increased only slightly. Capital expenditures continued to focus on Europe.
Due to the adjustments following the volume development, the number of employees was slightly below the level as of December 31, 2019.
Employee satisfaction increased slightly owing to the positive reception for the overall Covid-19 crisis management and the slight increase in the “My immediate superior” category. Satisfaction remained at a good level. The ratings for “One team for the customer” and “You can do it” were above average.
As of December 31, 2020, the share of women had increased slightly.
Over the course of the Covid-19 pandemic, the utilization efficiency for the modes of transport changed significantly. We were able to achieve slight improvements in specific emissions in land transport. Specific emissions in ocean freight and air transport have decreased significantly.
- Covid-19 pandemic impacted profits.
- Further development of the product portfolio and quality improvements with positive effects.
- Increase in demand for the digital platform Connect4Land.
Land transport line of business | 2020 | 2019 | Change | ||
absolute | % | ||||
Shipments in land transport (thousand) | 108,166 | 107,132 | +1,034 | +1.0 | |
Total revenues (€ million) | 6,716 | 7,125 | –409 | –5.7 | |
External revenues (€ million) | 6,651 | 7,058 | –407 | –5.8 | |
EBITDA adjusted (€ million) | 339 | 341 | –2 | –0.6 | |
EBIT adjusted (€ million) | 158 | 172 | –14 | –8.1 | |
Employees as of Dec 31 (FTE) | 21,807 | 21,811 | –4 | – | |
Volume in land transport increased overall. Declines in system and direct freight due to Covid-19 were more than offset by growth in the parcel business. Development differentiated by region.
Economic development was weak. Operating profit figures developed less strongly due to a noticeable decline in income:
- Revenues fell; positive effects from volume growth in the parcel business were more than offset by declines in system and direct freight due to lower demand.
- Other operating income decreased due to the absence of one-time effects in the previous year.
On the expenses side, the decline in volumes in the cost-intensive system and direct freight business together with Covid-19 countermeasures had a particularly positive impact, although they were not able to fully offset the decline in income:
- Cost of materials fell noticeably in line with demand.
- Personnel expenses increased slightly due to reclassification measures within business units that did not affect profits. Countermeasures had a positive effect.
- Other operating expenses fell, mainly as a result of Covid-19 countermeasures.
The number of employees remained stable.
- Impacted by the Covid-19 pandemic.
- Significant increase in freight rates, especially in air freight.
- Air freight: various measures to ensure transport operations, standardization, and productivity improvements being implemented.
- Ocean freight: projects to improve efficiency and optimize organization being implemented worldwide; transformation in Germany and the USA completed.
- Strong overall increase in profits.
Air and ocean freight line of business | 2020 | 2019 | Change | ||
absolute | % | ||||
Air freight volume (export) (thousand t) | 1,094 | 1,186 | –92 | –7.8 | |
Ocean freight volume (export) | 2,052 | 2,294 | –242 | –10.5 | |
Total revenues (€ million) | 8,228 | 7,218 | +1,010 | +14.0 | |
External revenues (€ million) | 8,223 | 7,213 | +1,010 | +14.0 | |
EBITDA adjusted (€ million) | 511 | 342 | +169 | +49.4 | |
EBIT adjusted (€ million) | 448 | 287 | +161 | +56.1 | |
Employees as of Dec 31 (FTE) | 13,185 | 13,964 | –779 | –5.6 | |
Performance development in air and ocean freight declined noticeably as a result of global market developments caused by Covid-19:
- In air freight, higher demand for the transport of certain goods, such as from the medical industry, had a positive effect.
- The performance gains in ocean freight in the Asia/Pacific region and signs of recovery in the second half of 2020 were not able to offset performance losses.
Economic development, on the other hand, was noticeably positive: the adjusted profit figures improved due to the significant increase in income:
- Revenue development was driven by the air freight business and was highly positive due to price effects. Volume declines and negative exchange rate effects had a dampening effect.
- Other operating income noticeably increased at a low level due to Covid-19 support measures.
The freight rate development in air freight was particularly noticeable on the expenses side. Volume development had a dampening effect:
- Cost of materials increased significantly, mainly driven by the development in freight rates. In contrast, the decline in volumes and exchange rate effects reduced expenses.
- Personnel expenses increased slightly due to business unit internal reclassification measures that did not affect profits. Countermeasures implemented on account of the decline in volumes and exchange rate effects had a dampening effect.
- Other operating expenses decreased. Adjusted for exchange rate effects, there was a smaller decline, mainly as a result of Covid-19 countermeasures.
The number of employees fell as a result of the drop in volume.
- Production and supply chain disruptions caused by the Covid-19 pandemic are hampering income development.
- Declines in demand in the aerospace, industrial and automotive industries; healthcare and e-commerce, as well as new customer acquisitions above the previous year.
- Productivity improvement measures being implemented.
- Significant increase in profits.
Contract logistics line of business | 2020 | 2019 | Change | ||
absolute | % | ||||
Warehouse space (million m²) | 8.8 | 8.4 | +0.4 | +4.8 | |
Total revenues (€ million) | 2,715 | 2,734 | –19 | –0.7 | |
External revenues (€ million) | 2,714 | 2,733 | –19 | –0.7 | |
EBITDA adjusted (€ million) | 358 | 312 | +46 | +14.7 | |
EBIT adjusted (€ million) | 105 | 79 | +26 | +32.9 | |
Employees as of Dec 31 (FTE) | 24,382 | 24,625 | –243 | –1.0 | |
The development in contract logistics followed the trend in the overall market thanks to the business line’s portfolio that is diversified geographically and by market sector. There was a slight increase in market share overall (especially in the Asia/Pacific and Middle East and Africa regions). This was partly counteracted by the decline in market share in Europe due to a greater dependence on the automotive, aerospace and industrial markets.
The economic development in contract logistics was very satisfactory in a challenging market environment: adjusted profit figures rose, driven by the disproportionate reductions in expenses.
- Revenue declined slightly due to exchange rate effects. Effects from the recovery in the second half of 2020 exceeded the impact of the Covid-19 pandemic and the resulting disruptions to production and supply chains in the first half of 2020.
- Other operating income increased as a result of government Covid-19 support grants.
On the expense side, Covid-19 countermeasures in particular had a noticeable impact:
- Cost of materials was roughly at the previous year’s level in line with revenue development.
- Personnel expenses fell slightly due to exchange rate effects. Positive effects from government Covid-19 support measures were offset by reclassification measures within the business unit that did not affect profits.
- Other operating expenses decreased noticeably. In addition to Covid-19 countermeasures, exchange rate effects reduced expenses.
The number of employees fell slightly as a result of Covid-19 countermeasures.