The continuation of weak global economic development and the normalization of freight traffic following the pandemic-related boom in 2021 and 2022 also impacted the third quarter of 2023. As expected, the Group did not reach last year’s figures with revenue of 19.4 billion euros (Q3 2022: 24.0 billion euros) and operating profit (EBIT) of 1.4 billion euros (Q3 2022: 2.0 billion euros).
Lower freight volumes and rates, as well as the effects of exchange rates and fuel costs, affected DHL’s operations. The earnings of the Post & Parcel Germany division reflect increased costs and a detrimental regulatory environment for postal operations. Despite these external effects, the Group achieved free cash flow of 1.1 billion euros in the third quarter and 2.5 billion euros in the first nine months of 2023. This demonstrates structurally improved performance and financial strength of the DHL Group even in a weak economic environment.
– Global trade continued to normalize after the pandemic-related boom, and the recovery of the global economy has not materialized to date, also against the backdrop of higher interest rates and geopolitical crises. We previously planned various scenarios and are therefore on track to achieve our goals for this year. In the current market environment, we will carefully monitor our costs and continue to invest in growth areas of our global business and the quality of our service. We are very well prepared for the moment of recovery of the global economy – said Tobias Meyer, CEO of DHL Group.
DHL Group achieved a total net profit after minority interests of 807 million euros in the third quarter of 2023 (Q3 2022: 1.2 billion euros). Basic earnings per share in the same period amounted to 0.68 euros, compared to 1.01 euros the previous year.
