Jochen Thewes

Schenker Braced for Brexit Downturn

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Schenker plans to grow in Asia.
  • Why it matters

    Why it matters

    German railway company Deutsche Bahn wants to float its logistics business Schenker to raise capital to pay down its debts, but Schenker must first prove it knows how to grow its business and become more efficient.

  • Facts

    Facts

    • Jochen Thewes took charge of Schenker last year.
    • Schenker is one of the leading logistics companies in Europe, with revenues of €15 billion.
    • If it comes to market, it is likely to become one of the DAX 30 group of Germany’s biggest publicly traded companies.
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    Audio

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Jochen Thewes, the chief executive of German logistics company Schenker, warned that his company and customers could be impacted by an economic downturn triggered by Britain’s exit from the European Union.

“Our clients are automobile manufacturers and trading companies, and, of course, what we are hearing from them right now is a great deal of concern,” Mr Thewes said in an interview with Handelsblatt. “If Brexit has an effect on the economic climate of Europe and the global economy, then that will also have consequences for logistics companies like ours.”

But from an operational point of view, he added, “it’s no big deal for us if customs authorities are involved in future trade with Great Britain or not; we have to wait and see first of all how things develop.”

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