Sluggish Global Economy Weighs on Germany’s DHL in Q2
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FRANKFURT — German logistics and delivery giant DHL reported second-quarter net profit of 744 million euros ($802 million), a decline of 23.9% from a year ago, as a sluggish global economy dampened demand.
“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,” CFO Melanie Kreis said in a statement Aug. 1.
Operating profit was below the prior-year level at 1.35 billion euros compared to 1.7 billion euros.
Second-quarter revenue was 20.64 billion euros, up 2.7%.
The DHL Group confirmed its forecast for fiscal 2024. It anticipates EBIT of between 6 billion euros and 6.6 billion euros.
For the medium-term forecast for 2026, the DHL Group continues to expect an operating profit of between 7.5 billion and 8.5 billion euros.
“Thanks to our unique logistics portfolio we are well prepared for when global trade regains momentum,” Kreis said.
DHL Supply Chain ranks No. 14 on the Transport Topics Top 100 list of the largest logistics companies in North America, and DHL Group ranks No. 4 on the TT Top 50 Global Freight list.
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