DHL Group starts 2025 with revenue and earnings growth
In the first quarter, Group revenue amounted to EUR 20,809 million; operating profit (EBIT) increased by 4.5% to EUR 1,370 million compared to the same period last year.
- Group revenue up 2.8% to EUR 20,809 million (Q1 2024: EUR 20,251 million)
- EBIT increased by 4.5% to EUR 1,370 million (Q1 2024: EUR 1,311 million)
- Free cash flow (excluding M&A) improved by 17.4% to EUR 732 million (Q1 2024: EUR 623 million)
- Guidance unchanged: EBIT of at least EUR 6 billion and free cash flow (excluding M&A) of approximately EUR 3 billion in 2025
- CEO Tobias Meyer: "Changes in trade policy shaped the first quarter. Financially, we had a strong start to the year 2025."
Bonn - The logistics company DHL Group started 2025 with slight revenue and earnings growth. In the first quarter, Group revenue amounted to EUR 20,809 million, up 2.8% from the previous year (Q1 2024: EUR 20,251 million). Operating profit (EBIT) increased by 4.5% to EUR 1,370 million compared to the same period last year (Q1 2024: EUR 1,311 million).
Free Cash Flow, Group earnings, and earnings per share increase
In the first quarter of 2025, DHL Group's gross capital expenditure (capex) amounted to EUR 461 million (Q1 2024: EUR 483 million). Effective cost and revenue management and capex control contributed to the increase in free cash flow (excluding M&A) by 17.4% to EUR 732 million (Q1 2024: EUR 623 million).
Overall, DHL Group generated consolidated net profit after non-controlling interests of EUR 786 million in the first quarter of 2025, up 6.2% from the same period last year (Q1 2024: EUR 740 million). Basic earnings per share amounted to EUR 0.68 (Q1 2024: EUR 0.63 per share).
Focus on quality, growth, and structural efficiency
The Management Board announced the Group-wide program "Fit for Growth" in March 2025, to support the Group's growth. This program is part of Strategy 2030, seeking to make the company leaner and more efficient overall. "Fit for Growth" includes numerous measures across all business units and aims to structurally improve DHL Group's cost base by more than EUR 1 billion, with the full impact expected in the 2027 financial year.
As part of Strategy 2030, DHL Group is investing specifically in the quality of its services and in regions and sectors with above-average growth potential. These include logistics markets for life sciences & healthcare and new energies, as well as e-commerce and sustainable transport. For example, DHL Group has established the "DHL Health Logistics" brand and plans to invest around EUR 2 billion in this strategic initiative by 2030. This investment aims to expand DHL Group's capabilities in life sciences & healthcare to meet the growing demand in the pharmaceutical industry, for medical devices, and in growth areas such as clinical trials, biopharma, and cell and gene therapies.
Guidance unchanged
DHL Group continues to anticipate a subdued macroeconomic environment. 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 EUR 6 billion and a free cash flow (excluding M&A) of approximately EUR 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.
| Express | Q1 2024 | Q1 2025 | YOY |
| Revenue (in EUR million) | 6,006 | 6,127 | 2.0 (1) |
| EBIT (in EUR million) | 632 | 662 | 4.8 (1) |
| EBIT margin (in percent) | 10.5 | 10.8 | 0.3 (2) |
| (1) in percent |
(2) in percentage points |
| Global Forwarding, Freight | Q1 2024 | Q1 2025 | YOY |
| Revenue (in EUR million) | 4,617 | 4,764 | 3.2 (1) |
| EBIT (in EUR million) | 263 | 202 | -23.2 (1) |
| EBIT margin (in percent) | 5.7 | 4.2 | -1.5 (2) |
| (1) in percent |
(2) in percentage points |
| Supply Chain | Q1 2024 | Q1 2025 | YOY |
| Revenue (in EUR million) | 4,333 | 4,380 | 1.1 (1) |
| EBIT (in EUR million) | 256 | 268 | 4.8 (1) |
| EBIT margin (in percent) | 5.9 | 6.1 | 0.2 (2) |
| (1) in percent |
(2) in percentage points |
| eCommerce | Q1 2024 | Q1 2025 | YOY |
| Revenue (in EUR million) | 1,633 | 1,756 | 7.5 (2) |
| EBIT (in EUR million) (1) | 58 | 52 | -9.2 (2) |
| EBIT margin (in percent) | 3.5 | 3.0 | -0.5 (3) |
| (1) Prior-year figure adjusted |
(2) in percent |
(3) in percentage points |
| Post & Parcel Germany | Q1 2024 | Q1 2025 | YOY |
| Revenue (in EUR million) | 4,266 | 4,428 | 3.8 (1) |
| EBIT (in EUR million) | 194 | 281 | 44.6 (1) |
| EBIT margin (in percent) | 4.6 | 6.3 | 1.8 (2) |
| (1) in percent |
(2) in percentage points |
Daniel Gabel
Financial Communications, Global Business Services
DHL Group
Charles-de-Gaulle-Str. 20
53113 Bonn
Germany