Dear Readers,
The year 2025 was a turbulent one in many respects. In global trade, volatility was greater than at any time in at least two decades. Geopolitical tensions, changing customs tariffs and new regulatory conditions created additional frictions in international supply chains. Trade volumes fluctuated markedly, especially on trade lanes between China and the United States. On top of this, consumer sentiment remained subdued in many markets, especially in Europe.
In this demanding environment, DHL Group once again demonstrated its resilience and operational strength. We achieved key financial targets in 2025: Operating profit (EBIT) came in at €6.1 billion, while free cash flow excluding M&A reached €3.2 billion, once again exceeding the previous year’s level. Revenue was slightly down, however, at €82.8 billion, due primarily to currency effects.
Global trade as a whole proved robust, though there were clear shifts in trade flows given the circumstances described. We achieved strong growth on numerous routes to and from Asia in 2025. China significantly intensified its trade with large parts of the world, and e-commerce gained further ground in fast-growing economies such as India and Saudi Arabia. In this complex environment, we offered dependable support for our customers, kept supply chains running and offered flexible capacity where it was needed. Our global network, paired with local expertise, once again proved a crucial competitive advantage.
Our focus in 2025 was on successful operational management. We concentrated on the factors we can directly control: capacity, costs and efficiency, along with targeted investment as a basis for future growth.
Through active capacity management, we are adjusting our network to economic trends, particularly when it comes to our air freight network and our collections and deliveries. As part of our Strategy 2030 and “Fit for Growth” efficiency program, we are implementing structural cost initiatives. Digitalization, automation and standardization are key levers in this context. The use of robotics and artificial intelligence is increasingly contributing to improved quality and efficiency, including in customer service, customs clearance, fulfillment and service logistics.
“We are investing in the future and ready to seize opportunities where they arise around the world.”
At the same time, we are investing in regions and industries with above-average growth potential. These particularly include Asia, the Middle East, India and parts of Africa, along with sectors such as Life Sciences & Healthcare and New Energy. We have further developed our expertise in Life Sciences & Healthcare logistics through an expanded service portfolio, infrastructure investment and acquisitions. Our goal is to build the world’s top-performing temperature-controlled logistics network. In the New Energy segment, for example, our battery-powered transports more than tripled year on year in 2025. These business areas require specialized solutions. With the targeted expansion of our operational capacity in these fields, our customers can rely on us to meet their increasing requirements. This investment will strengthen DHL Group’s competitiveness in the medium and the long term.
With Strategy 2030, we have embedded Green Logistics as the fourth bottom line in our Group strategy. Our long-term goal remains unchanged: cutting greenhouse gas emissions from logistics to net zero by 2050. With the demand for more sustainable logistics solutions continuing its gradual rise in 2025, we have consistently expanded our capabilities in low-emission logistics. Our use of sustainable aviation fuels is substantially above the industry average, and our fleet of electric vehicles is one of the world’s largest. The actions we are taking are noticeably reducing our greenhouse gas emissions and strengthening our position as a leading provider of sustainable logistics solutions.
My special thanks go to our approximately 584,000 employees all around the world. Their commitment, flexibility and hard work every day are the basis of our success. They ensure that we are a reliable partner to our customers in over 220 countries and territories.
Looking to the future, the environment remains challenging. But we are well positioned and aiming for further sustainable growth. We have a resilient business model, strong cost discipline, modern IT and operational equipment, a flexible network and a clear growth agenda. We are investing in the future and ready to seize opportunities wherever they arise around the world: for our customers, for our employees and for you, our shareholders.
Thank you for your trust.
Tobias Meyer
Chief Executive Officer