1 EBIT/revenue.2 After deduction of noncontrolling interests.3 Basic earnings per share.4 Proposal.
Changes to the portfolio
On January 8, 2025, we acquired 100% of the shares in US-based Inmar Supply Chain Solutions LLC to strengthen our position in the returns logistics market in North America.
On May 5, 2025, we acquired 100% of US-based IDS Fulfillment LLC. The acquisition expands DHL Supply Chain’s network of warehouse and distribution spaces in the American market.
On June 11, 2025, we acquired 100% of the CRYOPDP Group from Cryoport, Inc. The acquisition of the courier service provider in specialty pharma logistics expands DHL Supply Chain’s offering in the Life Sciences & Healthcare sector.
Since June 30, 2025, DHL Group has had control over the Saudi Arabian joint venture ASMO Advanced Logistics Services Co. LLC (ASMO) and is able to determine that company’s business activities. ASMO has therefore since been fully consolidated in our financial statements.
At the end of September 2025, we transferred the eCommerce division’s business in the United Kingdom to the Evri Group and acquired a minority stake in this group.
On November 1, 2025, we acquired 100% of the shares in US-based SDS Holdings Inc. With the acquisition, DHL Supply Chain is expanding its capacity in medical and healthcare logistics in the United States.
We also made a number of smaller acquisitions and divestitures in the 2025 fiscal year.
Group revenue decreases to €82.9 billion
Group revenue decreased from €84,186 million to €82,855 million in the 2025 fiscal year. This included negative currency effects amounting to €1,713 million. Excluding currency effects and acquisitions and divestitures, revenue rose by €401 million. The proportion of revenue generated abroad changed from 74.2% to 73.4%. Revenue for the fourth quarter of 2025 fell by 2.7% to €22,093 million, partly due to negative currency effects of €760 million. Excluding currency effects and acquisitions and divestitures, Group revenue was up by €256 million in the fourth quarter. At €2,792 million, other operating income was level with 2024.
Expenses significantly lower
Material expense fell from €42,766 million to €40,910 million, chiefly due to lower transport costs in the Global Forwarding, Freight division and lower costs for aviation fuel in the Express division. Staff costs were down by €44 million year on year to €28,261 million. A 2.3% fall in average headcount and negative currency effects of €446 million contributed to this. Wage and salary increases had the opposite effect. Depreciation, amortization and impairment losses were up by €147 million to €4,867 million, primarily due to investment activity. At €5,737 million, other operating expenses exceeded the prior-year figure (€5,556 million). They included higher impairment losses as well as legal provisions in the Express division. Net income from investments accounted for using the equity method rose from €33 million to €61 million. The figure for the 2025 fiscal year includes income from the change in consolidation method for ASMO, which is fully consolidated starting from June 30, 2025.
Consolidated EBIT up €217 million
Totaling €6,103 million in the 2025 fiscal year, profit from operating activities (EBIT) came in €217 million higher than the 2024 figure (€5,886 million). The figure for the fourth quarter of 2025 fell slightly from €1,851 million to €1,827 million. At €857 million, net finance costs were higher than the previous year’s level (€823 million). Profit before income taxes improved by €183 million to €5,246 million. As a result, income taxes rose by €46 million to €1,540 million despite a slightly lower tax rate.
Improved consolidated net profit
Consolidated net profit improved from €3,569 million to €3,706 million in the 2025 fiscal year. Of this amount, €3,501 million is attributable to Deutsche Post AG shareholders and €205 million to noncontrolling interest holders. Earnings per share rose from €2.86 to €3.09 (basic) and from €2.81 to €3.04 (diluted).
Dividend proposal: €1.90 per share
Our finance strategy calls for paying out 40% to 60% of net profit as dividends as a general rule, with due consideration to dividend continuity. At the Annual General Meeting on May 5, 2026, the Board of Management and the Supervisory Board will propose to the shareholders a dividend of €1.90 per share for the 2025 fiscal year (previous year: €1.85). The payout ratio in relation to the consolidated net profit attributable to Deutsche Post AG shareholders amounts to 60.6% with a stable dividend distribution. The dividend yield based on the year-end closing price for shares is 4.1%. The dividend will be disbursed on May 8, 2026.
TOTAL DIVIDEND AND DIVIDEND PER NO-PAR-VALUE SHARE €m
Dividend per no-par -value share (€).1 Proposal.
EBIT after asset charge (EAC) increases
EAC increased in 2025 from €2,207 million to €2,354 million. The growth in EBIT exceeded the moderate rise in the asset charge. ROIC came to 13.9% in the 2025 fiscal year (previous year: 13.7%).
EBIT AFTER ASSET CHARGE (EAC)
€m
2024
2025
+ / - %
EBIT
5,886
6,103
3.7
- Asset charge
-3,679
-3,749
1.9
= EAC
2,207
2,354
6.6
The net asset base as of the reporting date rose by €464 million to €44,515 million. Currency effects reduced intangible assets and property, plant and equipment. Net working capital and operating provisions increased compared with 2024. There was an increase in other noncurrent assets and liabilities, primarily due to the equity interest in Project Edge Topco Limited.
NET ASSET BASE (CONSOLIDATED)1
€m
Dec. 31, 2024
Dec. 31, 2025
+ / - %
Intangible assets and property, plant and equipment2
46,335
45,774
-1.2
± Net working capital
215
545
>100
- Operating provisions (excluding provisions for pensions and similar obligations)
