≥ €5.5 bn
DHL
~ €1.0 bn
P&P GERMANY
~ €-0.4 bn
GROUP FUNCTIONS
Outlook
2025 Guidance
~ €3.0 bn
FREE CASH FLOW (Excl. Net M&A)
€3.0 - 3.3 bn
GROSS CAPEX (excl. leases)
28 - 30%
TAX RATE
- Base assumption: continued muted macro environment.
- This outlook does not cover a potential further escalation in tariff or trade policies, as such changes could have substantial effects for DHL Group.
Mid-term Guidance
- Post 2025 mid-term EBIT target assumes a market environment with market growth rates returning towards our trend expectations.
- Confident to achieve structural earnings growth from 2025 onwards, whilst recognizing relevance of macroeconomic development on our industry, which will have an impact on timing of reaching mid-term target level.
