DHL Q3 Group revenue drops 19%, net profit down 34%

DHL Express revenue dropped 18% to €5.9 billion due to negative currency effects and lower fuel surcharges. As a result of continued weak market conditions, daily Time Definite International shipment volumes decreased by 2.7%.

Global forwarding revenue declined 44 percent to €4.4 billion due to lower volumes in both air and ocean freight and normalising freight rates.

In the current market environment, we will keep a close eye on our costs and continue to invest in growth areas of our global business and our service quality. We are well prepared for the moment when the global economy recovers: Tobias Meyer, DHL Group

The Group narrowed its earnings forecast for 2023 to €6.2-6.6 billion as a recovery of the global economy has not materialised.

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