DHL Group once again achieves significant revenue growth in the third quarter despite the persistently weak global economy. More goods are being transported by sea again.
Revenue at the world’s leading logistics company, DHL Group, increased by 6.2% to €20.6bn in the third quarter of 2024 (Q3 2023: €19.4bn) despite the persistently weak global economy. The operating result (EBIT) remained stable at €1.373bn (Q3 2023: €1.372bn) and was therefore not only in line with market expectations, but also significantly above the pre-pandemic level (Q3 2019: €942m).
“The weak momentum in global trade is a recurring theme throughout the first nine months of 2024. Nevertheless, we were able to initiate a turnaround,” says Tobias Meyer, CEO of DHL Group.
In the first nine months of 2024, the Group generated revenue of €61.5bn (9M 2023: €60.4bn), which was slightly higher than in the same period of the previous year. Operating profit developed in line with expectations at €4bn (9M 2023: €4.7bn).
DHL benefits from higher freight rates
The Global Forwarding, Freight air and sea freight division also recorded growth in all key figures. Revenue rose from €4.4bn in the previous year to €5bn in the third quarter of 2024 due to higher volumes and sea freight rates, while the operating result (EBIT) fell significantly by -9.5% to €277m due to the margin trend. Air and sea freight volumes increased, particularly on the routes from Asia.
