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DHL beats expectations on Q2 sales and profit

by Mark Darwin
in Lifestyle
DHL beats expectations on Q2 sales and profit
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GERMAN logistics giant DHL reported second-quarter revenue and earnings slightly above expectations on Thursday (Aug 1) as air and ocean freight volumes showed modest improvements from a low starting level.

Quarterly revenue rose 2.7 per cent from a year earlier to 20.6 billion euros (S$29.8 billion), ahead of analysts’ mean forecast of 20.3 billion euros, according to LSEG data.

Its operating profit fell to 1.4 billion euros from 1.7 billion last year, also beating expectations of 1.3 billion.

The group’s international fast-shipping business Express saw a decline in shipment volumes, although business-to-business (B2B) volumes increased slightly.

“We are also seeing a modest improvement in B2B volumes at Express, but not yet a significant acceleration. Accordingly, the utilisation of our Express network is still not optimal at the moment,” finance chief Melanie Kreis said.

DHL Group’s consolidated net profit after non-controlling interests fell to 744 million euros in the quarter, from 978 million a year earlier, missing analysts’ expectations of 797 million euros.

The company, which delivers packages worldwide and also operates postal operator Deutsche Post in Germany, confirmed its forecasts for the 2024 financial year. REUTERS

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Mark Darwin

Mark Darwin

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