The outlook we published in March 2025 for the 2025 fiscal year was based on the assumption that global economic growth would remain below average, as in the previous year. This proved to be the case in the reporting period.
With the help of our “Fit for Growth” operating cost program, we continue to expect a slight rise in Group EBIT from the previous year’s figure of €5.9 billion to at least €6.0 billion in the 2025 fiscal year. The DHL divisions are still projected to generate total EBIT of at least €5.5 billion. In the Post & Parcel Germany division, EBIT is forecast to come in at around €1.0 billion. Group Functions is anticipated to contribute around €–0.4 billion to earnings. This outlook does not cover a potential further escalation in tariff or trade policies, as such changes could have substantial effects for DHL Group.
As in the previous year, we want to manage investments in our strategic goals and further growth in a balanced way, in line with the challenging economic environment. We continue to plan for capital expenditure (excluding leases) to range between €3.0 billion and €3.3 billion in 2025, while focusing on the same areas as in previous years. In view of the expected EBIT development in combination with a predicted increase in the asset charge, we expect the EAC to reach at least the previous year’s level. Free cash flow is projected at around €2.75 billion, including a €250 million overall budget for M&A expenses.
