DHL Q12025 revenue up 3%, earnings up 4%

DHL Group reported a 2.8 percent increase in revenue at €20.8 billion and a 4.5 percent increase in operating profit (EBIT) at €1.4 billion for the first quarter of 2025.

"The economic environment in the first quarter of 2025 was characterised by U.S. customs and trade policy and general economic caution," says Tobias Meyer, CEO, DHL Group. "Nevertheless, we continued the positive momentum of the previous quarters with slight revenue and earnings growth. This is also the result of our stringent cost and yield management. At the same time, we continue to invest in high-growth business areas while working on structurally improving our efficiency."

Overall, DHL Group generated consolidated net profit after non-controlling interests of €786 million in the first quarter of 2025, up 6.2 percent from the same period last year (Q12024: €740 million), says an official release.

Express revenue up 2%
The Express division reported a two percent growth in revenue at €6.1 billion while EBIT increased 4.8 percent to €662 million. "The volume of time-definite international shipments (TDI) at DHL Express was below the previous year’s level as expected. Through effective capacity management and price adjustments, the division was still able to increase revenue and EBIT and improve profitability."

Global Forwarding earning drops sharply
Global Forwarding revenue was up 3.2 percent at €4.8 billion, EBIT declined 23 percent to €202 million. "The decline in EBIT is mainly due to economic weakness in the German and European road freight business. The air and sea freight business remained relatively stable."

Supply Chain operations steady
DHL Supply Chain revenue was up marginally at €4.4 billion while EBIT was higher at €268 million, up five percent. "DHL Supply Chain continued its growth trajectory in the first quarter of 2025. The division improved earnings and margin through new contract signings and productivity increases via automation."

E-commerce revenue moves up
E-commerce operations reported a seven percent increase in revenue at €1.7 billion but EBIT was down nine percent at €52 million. "Targeted revenue management led to continued revenue growth at DHL eCommerce. The EBIT development was impacted by increased depreciation due to ongoing strategic investments in the ecommerce network."

Guidance unchanged
DHL Group continues to anticipate a subdued macroeconomic environment, the release added. "A positive contribution to earnings development is expected from the cost measures. Based on these assumptions, the guidance remains unchanged: DHL Group still expects an operating result of at least €6 billion and a free cash flow (excluding M&A) of approximately €3 billion for the fiscal year 2025. This outlook does not cover potential impacts of changes in tariff or trade policies as such changes could have substantial negative but also positive effects for DHL Group."