DHL Group reports Q3 earnings growth amid revenue dip

DHL Group posted higher earnings in Q3 2025, despite a drop in revenue. Revenue fell 2.3 percent to EUR 20.1 billion, mainly due to currency effects and weaker U.S. volumes.

Operating profit rose to EUR 1.5 billion, up from EUR 1.4 billion a year earlier. The EBIT margin improved to 7.3 percent. Free cash flow reached EUR 1.2 billion, up 80 percent. Net profit after non-controlling interests climbed 11.9 percent to EUR 840 million. Earnings per share grew 15.6 percent to EUR 0.75.

Business Units: Mixed Results

Express: Revenue fell 3.2 percent to EUR 5.87 billion. EBIT rose slightly to EUR 692 million, and the margin improved to 11.8 percent.
Global Forwarding & Freight: Revenue dropped 9.2 percent to EUR 4.57 billion. EBIT fell to EUR 195 million, and the margin decreased to 4.3 percent.
Supply Chain: Revenue edged down 0.4 percent to EUR 4.41 billion. EBIT rose to EUR 278 million. Margin improved slightly to 6.3 percent.
eCommerce: Revenue grew 2.9 percent to EUR 1.69 billion. EBIT jumped to EUR 176 million, boosted by a one‑off UK merger gain.
Post & Parcel Germany: Revenue rose 4.7 percent to EUR 4.24 billion. EBIT grew 27.3 percent to EUR 218 million, and the margin increased to 5.1 percent.

Outlook

DHL confirmed its full-year guidance. It expects an operating profit of at least EUR 6 billion and free cash flow of around EUR 3 billion. Management cited ongoing cost improvements and pricing measures as offsets to macroeconomic pressures.

Key Initiatives

The company spent EUR 632 million on capital projects, down 8.4 percent. Investments focused on growth in Asia, the Middle East, Africa, and Life Sciences & Healthcare logistics. DHL continues to expand digitalisation, including AI, robotics, and parcel locker networks.

Preparations for the peak season are underway. Express will add 10 Boeing 777 freighters. Supply Chain will hire around 8,000 temporary staff. Post & Parcel Germany will bring in about 10,000 temporary workers.

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