Global economic growth in 2024 was slowed by ongoing geopolitical conflicts. Particularly in Europe, uncertainty about the political environment meant that both investors and consumers continued to hold back. In the absence of an economic tailwind, DHL Group’s results for the reporting year as a whole remained in line with its guidance as revised in October 2024 and with market expectations.
Thanks to strong cost discipline and the flexibility of the network, the guidance figure for Group EBIT, which had been adjusted to more than €5.8 billion, was achieved. At €5.9 billion, operating profit was below the prior-year figure as had been expected, but significantly exceeded the pre-pandemic level of 2019. As announced, we reduced the volume of capital expenditure (excluding leases) year on year to €3.1 billion in order to reflect the market situation. With free cash flow of €3.0 billion excluding acquisitions and divestments, we achieved the upper end of the most recently forecast range. Even in a weak economic environment, DHL Group has thus again underscored its structurally improved ability to perform and its financial strength. In a strong fourth quarter, we translated the peak season into substantial revenue and earnings growth. This was attributable particularly to the strategic focus on e-commerce, combined with ongoing yield and cost management.
To accelerate growth at Group level and better capitalize on the strengths of each division, we are launching joint initiatives as part of Strategy 2030 to expand into new markets and industry sectors, reinforcing our focus on e-commerce and seizing growth opportunities linked to digitalization.
DHL Group has a wealth of experience in dealing with various economic cycles and crises around the world. Thanks to its global presence and the broad portfolio of transport and logistics services, DHL Group is well positioned not only to deal with the current challenges, but also to benefit from the upswing of the global economy as soon as it sets in.
FORECAST/ACTUAL COMPARISON
Targets for 20241
Results for 2024
Targets for 2025
EBIT
Group:
Between €6.0 billion and €6.6 billion
DHL divisions:
More than €5.7 billion
Post & Parcel Germany:
More than €0.8 billion
Group Functions:
Around €–0.45 billion
Group:
€5.9 billion
DHL divisions:
€5.5 billion
Post & Parcel Germany:
€0.8 billion
Group Functions:
€–0,44 billion
Group:
≥ €6.0 billion
DHL divisions:
≥ €5.5 billion
Post & Parcel Germany:
Around €1.0 billion
Group Functions:
Around €–0.4 billion
EAC
Slight decline
€2,2 billion (previous year:
€2.9 billion)
At least unchanged
Free cash flow
Around €3.0 billion2
€3.0 billion2, €2.9 billion3
Around €3.0 billion2
Capital expenditure (capex)4
€3.0 billion to €3.6 billion
€3.1 billion
€3.0 billion to €3.3 billion
Distribution as dividend
40% to 60% of net profit
Proposal: 64.0% of net profit
40% to 60% of net profit
Logistics-related GHG emissions5
34.9 million metric tons of CO2e
33.77 million metric tons of CO2e
34.7 million metric tons of CO2e
Realized Decarbonization Effects
1.5 million metric tons of CO2e
1,584 metric kilotons of CO₂e
2,000 metric kilotons of CO₂e
Employee Engagement6
> 80%
82%
≥ 80%
Share of women in management7
28.8%
28.4%
≥ 30%
Accident rate (lost time injury frequency rate, LTIFR) per million hours worked8
≤ 16.5
14.5
≤ 15.5
Share of valid certificates for compliance trainings7
98%
99.1%
≥ 98%
Cybersecurity rating
≥ 690 points
750 points
≥ 710 points
1 As published on March 6, 2024; the forecast was adjusted during the year.2 Excluding acquisitions and divestitures.3 Including acquisitions and divestitures.4 Capital expenditure for assets acquired.5 This includes Scope 3 emissions of the GHG Protocol categories 3 “Fuel- and Energy-Related Activities”, 4 “Upstream Transportation and Distribution” and 6 “Business Travel”.6 Represents the aggregated and weighted results of five statements in the annual Group-wide survey of employees.7 Middle and upper management.8 Work-related accidents resulting in at least one working day of lost time after the day of the accident.
