Deutsche Post DHL – revenues up, though not profits so much

First quarter revenue at Deutsche Post DHL grew by 19.8% to €22.6bn, though profit growth wasn’t as stellar – growing from €1.9bn in Q1, 2021 to €2.2bn this year.

DHL’s global business to business (B2B) verticals led the dramatic growth in income. Global Forwarding, Freight and Supply Chain did well, as did Express. Global Forwarding, Freight saw earnings almost triple, thanks to the ongoing spike in demand for ocean and air freight.

After the boom times of the pandemic, domestic and international B2C parcels normalised at the start of the year as pandemic restrictions saw shopping habits change. These led to earnings drop below the record peaks of the pandemic.

“The first quarter saw the expected normalisation in e-commerce. However, we were able to overcompensate that development with strong results in our global logistics activities. Once again, our portfolio – balanced by region and sector – proved to be a strong and resilient foundation for our success. Overall, we had a good start into the year and further increased our earnings”, said Frank Appel, CEO of Deutsche Post DHL Group. With regard to the consequences of the war in Ukraine, Frank Appel added: “Following the outbreak of war, global trade has so far proven resilient, yet we are closely monitoring the increasing challenges to global economic development.”

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