20 Aug
DHL Group experienced a 20.5% decline in Q2 operating profit, even as revenue grew by 2.7% to €20.6 billion. This dip highlights the difficulties posed by the sluggish global economy on international trade and freight operations. Despite a slight increase in air and ocean freight volumes, these were primarily driven by precautionary early shipments amid supply chain uncertainties rather than a true economic recovery.
CFO Melanie Kreis emphasized that although there was a minor uptick in B2B volumes within the Express division, a broader recovery in global trade is still elusive.
Strategic cost management, including a 10.5% reduction in capital expenditures, helped DHL cushion the impact on profits. The Global Forwarding unit reported marginal revenue growth, while the Supply Chain division outperformed, capitalizing on e-commerce growth and securing positive operating profit.
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