German logistics major DHL Group Wednesday reported lower earnings and revenues in its third quarter. Further, the company trimmed its earnings outlook for fiscal 2023 as well as fiscal 2025. However, the shares were gaining around 4 percent in the morning trading in Germany.<\/p>\n
CEO Tobias Meyer said, “Global trade has continued to normalize after the pandemic-related boom and the recovery of the global economy<\/span> has so far failed to materialize, also against the backdrop of higher interest rates and geopolitical crises. We have planned for different scenarios early on and are therefore well on track to achieve our targets for the year.”<\/p>\n For fiscal 2023, the company now expects EBIT of 6.2 billion euros to 6.6 billion euros, compared to previously expected 6.2 billion euros to 7.0 billion euros, as a recovery of the global economy has not materialized yet.<\/p>\n In the event of a recovery at the end of the year, DHL expects an EBIT of around 6.6 billion euros, and in the unfavourable case of no significant recovery of the global economy in the remainder of the financial year, an EBIT of at least 6.2 billion euros is expected.<\/p>\n For the DHL divisions, DHL Group is expecting an EBIT between 5.7 billion euros and 6.1 billion euros, compared to previously expected 5.7 billion euros to 6.5 billion euros. For Post & Parcel Germany, the company still plans for an EBIT between 800 million euros and 1.0 billion euros.<\/p>\n For 2025, DHL Group now expects an EBIT between 7.0 billion euros and 8.0 billion euros, revised from prior outlook of more than 8.0 billion euros.<\/p>\n According to the company, continuing weak global economic development and the normalization of freight transport after the pandemic-related boom of 2021 and 2022 also impacted the third quarter.<\/p>\n In its third quarter, DHL Group reported consolidated net profit of 807 million euros, down 33.9 percent from last year’s 1.22 billion euros. Earnings per share fell 31.3 percent to 0.68 euro from 0.99 euro a year ago.<\/p>\n Operating profit or EBIT was 1. billion euros, down 32.4 percent from 2.03 billion euros in the prior year.<\/p>\n