According to DHL Group, the logistics group increased its profitability in the third quarter of 2025 despite a weaker market environment and ongoing trade conflicts. Group revenue declined by 2.3 percent to €20.1 billion due to currency effects and lower transport volumes on transatlantic routes. The operating result (EBIT) rose by 7.6 percent to €1.5 billion. This increased the EBIT margin from 6.7 to 7.3 percent.
The free cash flow before M&A amounted to €1.2 billion, 80.8 percent above the prior-year period (€682 million). Consolidated net income after non-controlling interests rose by 11.9 percent to €840 million, while the undiluted earnings per share rose by 15.6 percent to €0.75.
Investments in growth areas and digitization
In the third quarter of 2025, DHL Group invested €632 million in tangible assets, about 8.4 percent less than in the prior-year period. The company is adjusting its investments to the economic development, but continues to focus on long-term growth areas such as Asia, the Middle East and Africa,
as well as life sciences and healthcare logistics.
In September 2025 the group acquired the US pharmaceutical logistics provider SDS Rx to expand its position in this segment. In addition, DHL is investing, as part of the Corporate Strategy 2030 and the 'Fit for Growth' program, in digital technologies, including the use of Artificial Intelligence and robotics, and in expanding the parcel locker network.
Efficiency gains through cost management
According to the company, active capacity management, structural cost reductions and price adjustments contributed significantly to the positive earnings development. As a result, airfreight costs in the Express business fell by 8.5 percent compared with the prior-year period.
Melanie Kreis, CFO DHL Group: "We have further improved our EBIT margin and achieved a strong free cash flow. This underlines the effectiveness of our measures to improve earnings power and capital efficiency in a challenging environment."
Preparations for the year-end business
For the fourth quarter, DHL Group expects a seasonal rise in e-commerce shipments. To secure
capacity, DHL Express plans to temporarily deploy ten additional Boeing 777 freighter aircraft. The Supply Chain division plans to hire around 8,000 additional workers for the Christmas season, while Post & Parcel Germany will deploy about 10,000 temporary staff to support. The group, according to CEO Tobias Meyer, sees itself well prepared for the peak season and expects, despite the volatile environment, a stable development.
Unchanged outlook for 2025
DHL Group remains committed to its annual guidance. For the full year 2025, the company expects an operating result of at least six billion euros and a free cash flow (excluding M&A) of around three billion euros. The group notes that the new import regulations for low-value shipments (De Minimis) into the USA, in effect since August, have so far had only a limited impact on business development.
Divergent developments across the business divisions
In the Express division, results and margins could be improved despite declining shipment volumes thanks to efficiency measures. In Global Forwarding,
Freight, weak macroeconomic impulses in Europe and falling sea freight rates led to a decline in revenue and earnings.
DHL Supply Chain achieved a slight earnings growth in the third quarter and increased the EBIT margin. Excluding currency effects, revenue rose by 3.2 percent.
DHL eCommerce posted a clear earnings increase: the EBIT of the business segment rose in the third quarter of 2025 from €51 million to €176 million. The increase is mainly due to a one-off effect of €123 million from deconsolidation following the merger with the British logistics provider Evri. In the Post & Parcel Germany segment, earnings remained stable. The decline in the mail business was offset by higher parcel volumes, price adjustments and cost savings.
Conclusion
According to DHL Group, the company shows robust development despite a weak global economic environment. Through disciplined cost management, investments in digitization and the expansion of growth-oriented areas, the group sees itself well positioned for the year-end business and the coming financial year.
