Segment reporting

16 Segment reporting

Segments by division
€m	Express		Global Forwarding		Supply Chain		eCommerce
January 1 to June 30	2025	2026	2025	2026	2025	2026	2025	2026
External revenue	11,679	12,784	8,780	9,304	8,528	9,180	3,294	3,032
Internal revenue	316	359	604	671	35	43	117	122
Total revenue	11,995	13,143	9,384	9,975	8,563	9,223	3,411	3,154
Material expense	5,837	6,286	7,399	7,908	3,125	3,642	2,428	2,241
Staff costs	3,228	3,233	1,302	1,303	3,818	3,926	633	565
Depreciation and amortization	919	906	169	168	569	631	149	151
Impairment losses	0	0	0	0	0	0	0	0
Total depreciation, amortization and impairment losses	919	906	169	168	569	631	149	151
Net income/loss from investments accounted for using the equity method	2	2	-2	-4	69	0	-1	-9
Profit from operating activities (EBIT)	1,393	1,999	398	404	615	581	109	98
Capex (assets acquired)	316	318	52	48	266	400	96	112
Capex (right-of-use assets)	886	354	83	131	481	614	87	73
Total capex	1,202	672	135	180	747	1,014	183	185
Net cash from (+)/used in (-) operating activities	2,316	2,999	237	256	704	751	231	268
Employees¹	107,820	103,737	44,241	43,505	181,085	185,105	39,818	36,771
Second quarter
External revenue	5,712	6,930	4,314	5,103	4,166	4,698	1,595	1,532
Internal revenue	156	202	305	345	17	23	60	62
Total revenue	5,868	7,132	4,620	5,448	4,183	4,721	1,656	1,594
Material expense	2,768	3,460	3,636	4,349	1,558	1,867	1,171	1,133
Staff costs	1,606	1,620	653	669	1,880	2,024	314	287
Depreciation and amortization	447	457	84	85	287	321	69	78
Impairment losses	0	0	0	0	0	0	0	0
Total depreciation, amortization and impairment losses	447	457	84	85	287	321	69	78
Net income/loss from investments accounted for using the equity method	1	1	-1	-3	68	0	-1	-4
Profit from operating activities (EBIT)	730	1,200	196	240	348	305	56	54
Capex (assets acquired)	203	199	28	27	131	235	49	70
Capex (right-of-use assets)	596	153	50	74	202	251	49	41
Total capex	798	352	78	101	334	486	98	110
Net cash from (+)/used in (-) operating activities	1,086	1,390	195	225	347	341	82	102
1 Average FTEs.

Segments by division
€m	Post & Parcel Germany		Group Functions		Consolidation		Group
January 1 to June 30	2025	2026	2025	2026	2025	2026	2025	2026
External revenue	8,351	8,485	2	3	0	0	40,634	42,787
Internal revenue	227	242	960	967	-2,259	-2,405	0	0
Total revenue	8,578	8,727	962	971	-2,259	-2,405	40,634	42,787
Material expense	2,911	3,014	762	830	-2,449	-2,693	20,014	21,228
Staff costs	4,516	4,700	659	608	-2	-2	14,154	14,332
Depreciation and amortization	333	364	270	270	0	0	2,408	2,490
Impairment losses	2	0	0	0	0	0	2	0
Total depreciation, amortization and impairment losses	334	364	270	270	0	0	2,410	2,490
Net income/loss from investments accounted for using the equity method	0	0	0	8	0	0	67	-4
Profit from operating activities (EBIT)	447	399	-163	-147	1	0	2,799	3,335
Capex (assets acquired)	286	419	53	39	0	0	1,069	1,336
Capex (right-of-use assets)	19	2	240	251	0	0	1,797	1,426
Total capex	305	421	293	290	0	0	2,865	2,763
Net cash from (+)/used in (-) operating activities	928	1,022	83	136	-610	-735	3,888	4,697
Employees¹	151,792	153,056	13,760	12,164	0	0	538,516	534,338
Second quarter
External revenue	4,038	4,101	1	2	0	0	19,826	22,367
Internal revenue	112	123	486	485	-1,136	-1,241	0	0
Total revenue	4,150	4,225	486	488	-1,136	-1,241	19,826	22,367
Material expense	1,438	1,483	389	421	-1,224	-1,391	9,736	11,321
Staff costs	2,215	2,333	325	309	0	-2	6,992	7,240
Depreciation and amortization	169	185	134	135	0	0	1,190	1,260
Impairment losses	0	0	0	0	0	0	0	0
Total depreciation, amortization and impairment losses	169	185	134	135	0	0	1,190	1,260
Net income/loss from investments accounted for using the equity method	0	0	1	2	0	0	68	-5
Profit from operating activities (EBIT)	166	135	-67	-75	0	-1	1,429	1,858
Capex (assets acquired)	166	265	31	23	0	0	608	818
Capex (right-of-use assets)	15	1	167	124	0	0	1,079	645
Total capex	181	266	198	147	0	0	1,686	1,463
Net cash from (+)/used in (-) operating activities	446	403	-16	-16	-430	-427	1,710	2,018
1 Average FTEs.

The segment previously known as Global Forwarding, Freight has been renamed Global Forwarding in the 2026 fiscal year. The composition of the segments is unchanged.

Information about geographical regions
€m	Germany		Europe (excluding Germany)		Americas		Asia Pacific		Middle East/Africa		Group
January 1 to June 30	2025	2026	2025	2026	2025	2026	2025	2026	2025	2026	2025	2026
External revenue	10,613	11,076	12,338	13,015	8,825	9,345	6,729	6,907	2,129	2,445	40,634	42,787
Noncurrent assets¹	13,411	13,351	14,511	14,652	10,881	11,209	5,560	5,719	1,669	1,838	46,033	46,768
Total capex	701	833	1,238	754	568	665	250	338	109	173	2,865	2,763
Second quarter
External revenue	5,134	5,469	6,132	6,819	4,256	4,945	3,281	3,783	1,024	1,351	19,826	22,367
Total capex	438	487	738	343	327	390	123	166	60	77	1,686	1,463
1 As of December 31, 2025, and June 30, 2026.

Reconciliation
€m	H1 2025	H1 2026
Total income of reported segments	2,961	3,482
Group Functions	-163	-147
Reconciliation to Group/Consolidation	1	0
Profit from operating activities (EBIT)	2,799	3,335
Net finance costs	-387	-505
Profit before income taxes	2,413	2,831
Income taxes	-724	-878
Consolidated net profit for the period	1,689	1,953

17 Disclosures on financial instruments

IFRS 9 carrying amount
€m	Measure-ment category¹	Carrying amount Dec. 31, 2025	Fair value² Dec. 31, 2025	IFRS 16 balance sheet carrying amount	Carrying amount June 30, 2026	Fair value² June 30, 2026	IFRS 16 balance sheet carrying amount
Assets
Financial assets at amortized cost (AC)		16,431			17,383
Cash and cash equivalents	AC	3,376			3,776
Trade receivables	AC	11,305			12,565
Debt instruments (loans and receivables)	AC	1,750	1,750		1,042	1,042
Financial assets at fair value through other comprehensive income (without reclassification) (FVTOCI)		40			35
Equity instruments at fair value through other comprehensive income (FVTOCI)	FVTOCI	40	40		35	35
Financial assets at fair value through other comprehensive income (with reclassification) (FVTOCI)		66			79
Derivatives with hedge accounting	n.a.	66	66		79	79
Financial assets at fair value through profit or loss (FVTPL)		969			580
Debt instruments at fair value through profit or loss (FVTPL)	FVTPL	935	935		489	489
Derivatives without hedge accounting	FVTPL	33	33		89	89
Equity instruments at fair value through profit or loss (FVTPL)	FVTPL	1	1		2	2
Lease assets	n.a.	926		926	1,010		1,010
Total assets		18,432			19,088
Equity and liabilities
Financial liabilities at amortized cost (AC)		20,540			20,914
Trade payables	AC	7,889			8,267
Bonds	AC	9,943	9,843		9,949	9,858
Amounts due to banks	AC	714	708		906	902
Other financial liabilities	AC	1,994	1,994		1,792	1,792
Financial liabilities at fair value through other comprehensive income (with reclassification)		33			104
Derivatives with hedge accounting	n.a.	33	33		104	104
Financial liabilities at fair value through profit or loss		17			20
Other liabilities at fair value through profit or loss	FVTPL	4	4		2	2
Derivatives without hedge accounting	FVTPL	13	13		18	18
Lease liabilities	n.a.	14,789		14,789	15,201		15,201
Total equity and liabilities		35,379			36,239
1 Explanations: AC (at amortized cost); FVTOCI (at fair value through other comprehensive income); FVTPL (at fair value through profit or loss). 2 The simplification option under IFRS 7.29a was exercised for the disclosure of certain fair values.

The table above presents the carrying amounts and the fair values of the individual financial assets and liabilities for each individual class in consideration of the respective measurement category under IFRS 9. Depending on the classification, the financial instruments are either recognized at amortized cost or at fair value as part of the subsequent measurement. The fair values are indicated per class of financial instrument. The fair values are not listed for trade receivables and payables, cash and cash equivalents and other current debt instruments; the simplification rule of IFRS 7.29a has been applied. The carrying amounts of the current financial assets and liabilities mentioned correspond approximately to their fair values.

To hedge against interest rate risk on a fixed-rate bond with an issue volume of €750 million and maturity date of November 25, 2031, Deutsche Post AG issued an interest rate swap on June 19, 2026, with a corresponding notional volume and maturity date. The interest rate swap has been designated as a fair value hedge.

Level disclosures
	December 31, 2025				June 30, 2026
€m	Level 1	Level 2	Level 3	Total	Level 1	Level 2	Level 3	Total
Financial instruments at fair value
Assets
Debt instruments at fair value through profit or loss (FVTPL)	935			935	489			489
Equity instruments at fair value through profit or loss (FVTPL)	1			1	2			2
Equity instruments at fair value through other comprehensive income (FVTOCI)	40			40	35			35
Derivatives with/without hedge accounting		86	13	99		155	14	168
Equity and liabilities
Other liabilities at fair value through profit or loss			4	4			2	2
Derivatives with/without hedge accounting		46		46		122		122

If there is an active market for a financial instrument (e.g., a stock exchange), its fair value is determined by reference to the market or quoted exchange price as of the reporting date. If no fair value is available in an active market, quoted market prices for similar instruments or recognized valuation models are used to determine fair value. The fair values are reconciled in accordance with IFRS 13 to the fair value categories (Level 1 to 3).

Level 1 comprises equity and debt instruments measured at fair value and debt instruments measured at amortized cost whose fair values can be determined based on quoted market prices.

Commodity, interest rate and currency derivatives are reported under Level 2. The fair values are measured on the basis of discounted expected future cash flows, taking into account forward rates for currencies, interest rates and commodities (market approach). For this purpose, price quotations observable in the market (exchange rates, interest rates and commodity prices) are imported from standard market information platforms into the treasury management system. The price quotations reflect actual transactions involving similar instruments on an active market. All significant inputs used to measure derivatives are observable in the market.

As of the reporting date, warrants entitling the holder to acquire further shares in the company are recognized under Level 3. The fair values of the derivative financial instruments are determined on the basis of the Black-Scholes option pricing model. If possible, parameters observable on the market or derived from market data are used to determine the value. Because the warrants are based on a listed underlying share, there could be earnings fluctuations in the subsequent years.

There was no material change in the Level 3 financial instruments compared with December 31, 2025.

18 Contingent liabilities and other financial obligations

Contingent liabilities declined by €65 million compared with December 31, 2025, to €516 million. This was due to a reduction in a liability arising from litigation risks, which largely resulted from the reassessment of a potential case. Purchase obligations increased by €508 million to €1,300 million in the first half of 2026, primarily due to new purchase commitments for aircraft.

19 Related-party disclosures

There have been no material changes with regard to related parties since December 31, 2025.

20 Events after the reporting date and other disclosures

On July 22, 2026, the Board of Management of Deutsche Post AG resolved to expand the current share buyback program so that a total of up to 210 million treasury shares are to be purchased at a price of now up to €6.5 billion through the end of 2027. The purposes of the program are unchanged.

There were no other reportable events after the reporting date.

Balance sheet disclosures Selected key figures