DHL earns less and dampens expectations
The logistics company DHL Group is taking a more pessimistic view of the current year. The upper end of the range for the operating profit target before interest and taxes (EBIT) will be lowered to between 6.2 and 6.6 billion euros, the Group announced in Bonn on Wednesday. The management had previously linked its annual targets to three scenarios - depending on whether and how quickly the economy recovers. The scenario for a recovery of the global economy from the start of the second half of 2023 and an operating profit of around 7 billion euros is now no longer applicable, it said on Wednesday. Analysts are forecasting an average of 6.5 billion euros for the year as a whole.
In the third quarter, DHL's revenue fell by almost a fifth to 19.4 billion euros. At just under 1.4 billion euros, the DAX-listed company earned almost a third less than in the same period last year. This was in line with analysts' expectations. Consolidated profit fell by a similar amount, amounting to 807 million euros in the three months to the end of September. After a record year in 2022, the downturn in the freight business and the economic weakness are causing the Bonn-based company particular problems.
The decrease in revenue for DHL's transportation services contributed to the overall fall in quarterly figures, with a 20% decrease recorded in the third quarter. The pessimistic outlook for the logistics company's operating profit before interest and taxes (EBIT) now includes a lower range of 6.2 to 6.6 billion euros, which was influenced by a revised forecast for transportation services.
Source: www.dpa.com
