Germany-based global logistics company DHL Group reported revenue of €20.6 billion (US$22.6 billion) and operating profit (EBIT) of €1.35 billion (US$1.48 billion) in the second quarter of the year.
Melanie Kreis, Chief Financial Officer of DHL Group, commented, “Air and ocean freight volumes further improved in the second quarter from a low starting level. However, we are not observing a broad-based recovery of global trade yet. We are also seeing a modest improvement in B2B volumes at Express, but not yet a significant acceleration. Accordingly, the utilization of our Express network is still not optimal at the moment. However, as a result of our balanced cost and capacity management, we are in good shape even in a weak economic environment.”
The company’s gross capital expenditure (CAPEX) amounted to €633 million (US$693 million) in the second quarter of 2024.
DHL Group generated consolidated net profit after non-controlling interests of €744 million (US$814 million) in the second quarter of the year, while basic earnings per share were €0.64 (US$0.70) in the same period.
In the second half of the year, DHL Group expects typical positive effects from peak season. In conjunction with ongoing earnings and cost management, the company is convinced it is well on track to meet its targets for the 2024 financial year.
“Thanks to our unique logistics portfolio we are well prepared for when global trade regains momentum,” pointed out Melanie Kreis.
The Group confirms its forecast for the 2024 financial year, anticipating EBIT of between €6 billion – €6.6 billion as well as free cash flow excluding acquisitions and divestments of around €3 billion.
In its medium-term forecast for 2026, DHL Group continues to expect an operating profit of between €7.5 billion and €8.5 billion.
