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DHL Group gets off to a good start in 2024
The logistics company DHL Group got off to a solid start to the new fiscal year in 2024.
Dr.G.R.Balakrishnan May 09 2024 Logistics News (Roadways & Railways)

DHL Group gets off to a good start in 2024

As expected, there was no significant upturn in the global economy in the first quarter of 2024; the Group generated revenue of EUR 20.3 billion (Q1 2023: EUR 20.9 billion). As anticipated, the operating profit (EBIT) of EUR 1.3 billion was below the previous year’s level (Q1 2023: EUR 1.6 billion) but exceeded the same period of the pre-pandemic year 2019 (Q1 2019: EUR 1.2 billion). 

“We are in an unusually long phase of low momentum in global trade. In this environment, we continue to focus on consistent capacity and cost management. However, we also see further growth potential. The demand for omnishoring and e-commerce solutions remains high and our customers are becoming increasingly aware of sustainable logistics – we can clearly see this in the demand for GoGreen Plus. With our portfolio, we are ideally positioned to benefit from an upturn in global trade. Despite all the challenges, 2024 is a year of opportunities.”… As expected, a broad and dynamic economic upturn failed to materialize in the first three months of the year. DHL Group continues to expect more positive global economic momentum in the second half of 2024. Overall, the Group confirms its forecast for the 2024 fiscal year and expects EBIT of between EUR 6.0 billion and EUR 6.6 billion and free cash flow, excluding acquisitions and divestments of around EUR 3.0 billion.