The year 2024 was marked by inconsistent market performance. Volumes declined in both the B2B and B2C sectors. In this environment, our flexible approach to network planning allowed us to continuously adjust our capacity to match expected volumes.
Express: cost discipline and network flexibility
In the 2024 fiscal year, revenue in the Express division increased by 1.2% to €25,134 million. This figure includes negative currency effects of €139 million and lower fuel surcharges. Excluding currency effects and fuel surcharges, revenue in the year under review was up by 2.6%. Reflective of the continued softer market conditions, TDI daily shipment volumes declined by 4.7%.
As in previous years, we countered this development in 2024 by prioritizing cost discipline, improving productivity and leveraging network flexibility. In the 2024 fiscal year, EBIT in the Express division was €3,084 million, 4.5% below the prior-year figure. The EBIT margin was 12.3%. EBIT in the Express division for the fourth quarter of 2024 reached €1,083 million, a remarkable 42.9% above the prior-year figure. The figure was also bolstered by the introduction of a demand surcharge for the peak season at the end of the year.
KEY FIGURES, EXPRESS
€m
2023
2024
+ / – %
Q 4 2023
Q 4 2024
+ / – %
Revenue
24,846
25,134
1.2
6,558
6,845
4.4
Europe
11,053
11,239
1.7
2,917
3,018
3.5
Americas
6,023
5,991
–0.5
1,585
1,638
3.3
Asia Pacific
8,893
8,441
–5.1
2,439
2,284
–6.4
MEA (Middle East and Africa)
1,514
1,494
–1.3
396
400
1.0
Consolidation/Other
–2,637
–2,031
23.0
–779
–495
36.5
Profit from operating activities (EBIT)
3,229
3,084
–4.5
758
1,083
42.9
Return on sales (%)1
13.0
12.3
–
11.6
15.8
–
Operating cash flow
4,786
4,830
0.9
1,054
1,526
44.8
1 EBIT/revenue.
EXPRESS: REVENUE BY PRODUCT
€m per day1
2023
2024
+ / – %
Q 4 2023
Q 4 2024
+ / – %
Time Definite International (TDI)
76.7
75.1
–2.1
82.2
80.1
–2.6
Time Definite Domestic (TDD)
6.1
6.5
6.6
6.5
7.3
12.3
1 To improve comparability, product revenues were translated at uniform exchange rates. These revenues are also the basis for the weighted calculation of working days.
EXPRESS: VOLUME BY PRODUCT
Items per day (thousands)
2023
2024
+ / – %
Q 4 2023
Q 4 2024
+ / – %
Time Definite International (TDI)
1,116
1,063
–4.7
1,213
1,110
–8.5
Time Definite Domestic (TDD)
486
498
2.5
507
572
12.8
Continuing to expand and modernize our network and fleet
As part of the upgrading of our intercontinental fleet, we signed contracts with Boeing between 2018 and 2022 to purchase a total of 28 new B777 aircraft. Delivery of the remaining six aircraft is planned for 2025. We reached an agreement in 2024 with the Chinese cargo airline Central Airlines (HLF/I9) on the use of two DHL B777 freighters.
In Europe, we continued to invest in our two continental European airlines: DHL Air Austria and European Air Transport (EAT). DHL Air Austria added a third B767–300 to its operations. EAT added an Airbus A330 and two A300–600s, while two B757–200 aircraft transferred to DHL Aero Expreso, Panama (DAE). In the Americas region, DAE’s fleet grew from six to ten aircraft, adding two newly converted B767–300s and two B757–200s from Europe. We are also continuously investing in our global hub in Cincinnati, USA, and constructing a state-of-the-art aviation maintenance operation there for our aircraft fleet. In Brazil, we opened a new gateway at Viracopos International Airport. In the Asia Pacific region, we opened a new gateway in Kuala Lumpur and expanded the Air Hong Kong fleet with three more converted A330–300s. Completion of the current fleet renewal and modernization project in Asia is expected in 2025. As part of the new partnership with Japan Airlines, we started flights between Japan, Seoul, Shanghai and Taipei. We also began direct flights from Hong Kong to Jakarta, Indonesia, Sydney, Australia, and Toronto, Canada.
