The outlook remains well above pre-pandemic levels
> €5.5 bn
DHL
~ €0.8 bn
P&P GERMANY
~ €-0.45 bn
GROUP FUNCTIONS
Outlook
2024 Guidance
€2.8 - 3.0 bn
FREE CASH FLOW*
€3.0 - 3.2 bn
GROSS CAPEX (excl. leases)
28 - 30%
TAX RATE
As revised on October 30, 2024. Previous guidance:
Group EBIT: €6.0 - 6.6 BN, of which DHL: > €5.7 BN; P&P Germany: > €0.8 BN; Group Functions: ~€-0.45 BN.
Free Cash Flow*: ~€3.0 BN, Gross Capex (excl. leases): €3.0 - 3.6 BN, Tax Rate: 28-30%.
Mid-term Guidance
As revised on October 30, 2024. Previous guidance:
2026 Group EBIT: €7.5 - 8.5 BN; Free Cash Flow* 2024-2026 cumulative €9 - 10 BN;
Gross Capex (excl. leases) 2024-2026 cumulative: €9 - 11 BN.
*excl. Net M&A
Note: €250m blanket budget for M&A expenses p.a.
