It is learned that on August 1, DHL Group announced that it had overcome the weak economic situation in the second quarter of this year, with revenue of US$22.1 billion, down from US$26.4 billion in the same period last year. Operating profit was not much different from the first quarter, at US$1.9 billion.

The lower end of the 2023 earnings before interest and taxes (EBIT) guidance was raised to $6.8 billion to $7.7 billion from $6.6 billion to $7.7 billion. If the global economy recovers in the second half of 2023, early in the year, DHL expects EBIT to reach $7.7 billion. If a recovery occurs by the end of the year, DHL expects EBIT to reach $7.1 billion. If there is no recovery by the end of the year, the company expects EBIT to be $6.8 billion.

“In times of weakening global economic momentum, we were once again able to demonstrate our resilience thanks to our balanced portfolio and global reach,” said Chief Executive Tobias Meyer.

“We took the right steps at an early stage to address the current macro environment and are currently operating at well above pre-pandemic levels,” Meyer added.

Revenue at the DHL Express division, the company's time-definite air freight business, fell 12.5% ​​to $6.7 billion. Excluding the impact of currency and lower fuel surcharges, revenue fell 6.9%. DHL said volumes fell due to weak demand. Earnings before interest and taxes fell 18.2% to $989 million.

DHL Global Forwarding, the company's air and ocean freight division, reported a 40.7% drop in revenue to $5.3 billion due to lower volumes and normalized freight rates. Excluding a $242 million negative currency impact, revenue fell 38%. The company said the results were in line with expectations.

Supply Chain segment revenues increased 4% to $4.7 billion in the quarter. Excluding negative currency effects, growth would have been 7.1%. Revenues continued to grow in all regions and industries, supported by new business, contract renewals and e-commerce business. Most of the new business was related to e-commerce, and EBITDA increased from $267.8 million to $298.6 million.

DHL's e-commerce division posted a slight decline in revenue to $1.7 billion. Excluding a negative currency impact of $34 million, growth was 1.8% . EBIT fell from $119.7 million to $85.6 million due to increased investments in network expansion.

Editor ✎Estella/

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