Earnings release
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Press release DHL = Group DHL Group seizes growth opportunities and significantly increases revenue and earnings in the second quarter • • • • Group revenue increased 13 percent to EUR 22.4 billion ( Q2 2025 : EUR 19.8 billion ) Operating profit ( EBIT ) increased 30 percent to EUR 1.9 billion ( Q2 2025 : EUR 1.4 billion ) Profitability further improved : EBIT margin at 8.3 percent ( Q2 2025 : 7.2 percent ) Following the guidance increase in July , the Group now expects operating profit ( EBIT ) of more than EUR 6.5 billion for 2026 Free cash flow ( excluding M & A ) reached EUR 1.8 billion after the first half of the year ( H1 2025 : EUR 1.1 billion ) ; Group confirms full - year target of around EUR 3.0 billion Share buyback program increased by EUR 500 million to up to EUR 6.5 billion and extended through the end of 2027 CEO Tobias Meyer : “ The strong revenue and earnings performance in the second quarter demonstrates that the consistent execution of our strategic measures is paying off . Higher productivity and efficiency , combined with the strength of our global network , enable us to capitalize on growth opportunities and translate revenue growth into even stronger earnings growth . " Bonn , August 5 , 2026 : DHL Group achieved significant revenue and earnings growth in the second quarter of 2026. Compared with the prior - year quarter , which was affected by tariffs and other trade- policy conditions , Group revenue increased 13 percent to EUR 22.4 billion . Operating profit ( EBIT ) rose 30 percent to EUR 1.9 billion , while the EBIT margin improved by 1.1 percentage points to 8.3 percent . Reflecting the positive earnings momentum in the second quarter of 2026 , the Group raised its guidance in July , together with the publication of its preliminary results , to an operating profit ( EBIT ) of more than EUR 6.5 billion for fiscal year 2026 ( previously : more than EUR 6.2 billion ) . Revenue growth was primarily driven by higher transported shipment weight at DHL Express , capacity constraints in the international air freight market , and the pass - through of higher fuel costs . Disciplined yield and capacity management , along with structural cost improvements achieved through the “ Fit for Growth " program , supported earnings growth . Page 1 of 6 DHL Group Charles - de - Gaulle - Str . 20 53113 Bonn Germany Phone +49 228 182-9944 E - mail X Homepage pressestelle@dhl.com twitter.com/Deutsche PostDHL group.dhl.com
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Press release Page 2 of 6 In an increasingly complex environment, the ability to manage global supply chains securely and efficiently is becoming even more important. Faced with geopolitical tensions and shifting trade flows, more companies are adapting their supply chains and focusing on resilience, flexibility, and reliability. With its globally integrated network and local market expertise, DHL Group helps customers respond with agility to changes in global trade and build more resilient supply chains. “The strong revenue and earnings performance in the second quarter demonstrates that the consistent execution of our strategic measures is paying off. Higher productivity and efficiency, combined with the strength of our global network, enable us to capitalize on growth opportunities and translate revenue growth into even stronger earnings growth. In an environment that continues to be shaped by geopolitical tensions and shifting trade flows, our customers benefit from our global presence, local expertise, and operational flexibility. This enables us to support them in adapting their supply chains to changing market conditions while ensuring reliable logistics, even in challenging environments. ” Tobias Meyer, CEO DHL Group Free cash flow (excluding M&A) amounted to EUR 569 million (Q2 2025: EUR 329 million) in the second quarter. While strong business growth resulted in an additional working capital outflow, cash flow in June benefited from refunds related to U.S. tariff measures (IEEPA). The corresponding amounts are being passed on to customers as quickly as possible. For the first half of the year, free cash flow (excluding M&A) increased to EUR 1.8 billion (H1 2025: EUR 1.1 billion). Group net profit after non-controlling interests rose to EUR 1.0 billion in the second quarter, an increase of 23.9 percent compared with the prior-year period. Basic earnings per share were EUR 0.91, up 26.9 percent from EUR 0.72 in the second quarter of 2025. Investments in sustainable growth DHL Group continues to invest in the strength and quality of its network. In the first half of the year, capital expenditures on acquired assets (capex) totaled EUR 1.3 billion, 25 percent higher than in the prior-year period. The Group is thus continuing the implementation of its Strategy 2030 and strengthening the foundation for long-term growth. To meet evolving customer needs, the company continues to invest in digitalization, automation, and the modernization of its logistics infrastructure. These investments include, among others, the modernization of the global Express fleet, automated warehousing and sorting solutions, and digital applications designed to further enhance quality and efficiency.
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Press release Page 3 of 6 In addition, DHL Group continues to expand its capabilities in strategic growth areas such as Life Sciences & Healthcare, New Energy and Data Center Logistics. For example, the Group is expanding its Life Sciences & Healthcare network in the United States, the United Kingdom, Singapore and South Korea, investing in a new battery logistics center in the Netherlands, and strengthening its data center logistics capabilities also in the Asia Pacific region. Through these investments, DHL Group is responding to growing demand for specialized logistics solutions, helping customers in fast-growing and increasingly complex industries to manage critical supply chains securely, resiliently and efficiently. Guidance raised; share buyback program increased and extended Reflecting the strong business performance in the first half of the year, DHL Group increased its full-year 2026 guidance on July 7 and now expects operating profit (EBIT) of more than EUR 6.5 billion (previously: more than EUR 6.2 billion). EBIT for the DHL divisions is now expected to exceed EUR 5.9 billion. The guidance for Post & Parcel Germany (more than EUR 900 million EBIT) and Group Functions (around minus EUR 400 million) remains unchanged. The Group also confirmed its expectation of around EUR 3.0 billion in free cash flow (excluding M&A). In addition, the Board of Management decided to increase the Group's share buyback program, launched in 2022, by EUR 500 million to up to EUR 6.5 billion and to extend it through the end of 2027.
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Press release Page 4 of 6 DHL Express: Positive demand development and higher capacity utilization DHL Express Q2 2025 Q2 2026 YOY in % Revenue (in EUR million) 5,868 7,132 +21.5 (1) EBIT (in EUR million) 730 1,200 +64.3 (1) EBIT margin (in percent) 12.4 16.8 +4.4 (2) (1) in percent (2) in percentage points DHL Express benefited from increased demand development in the second quarter. The return to growth in transported shipment weight, combined with disciplined yield and capacity management, resulted in a significant increase in operating profit. The division also benefited from temporary capacity constraints in the air freight market, resulting in a positive earnings impact of around EUR 150 million. DHL Global Forwarding: Network strength in a volatile market environment DHL Global Forwarding Q2 2025 Q2 2026 YOY in % Revenue (in EUR million) 4,620 5,448 +17.9 (1) EBIT (in EUR million) 196 240 +21.9 (1) EBIT margin (in percent) 4.3 4.4 +0.1 (2) (1) in percent (2) in percentage points DHL Global Forwarding benefited from growing air and ocean freight volumes as well as volatile freight rates in the second quarter of 2026. In particular, the successful management of the challenging market environment had a positive impact on business performance. Leveraging its global network and local market expertise, the division supported customers in managing changing trade flows and supply chains reliably. DHL Supply Chain: Revenue growth in all regions DHL Supply Chain Q2 2025 Q2 2026 YOY in % Revenue (in EUR million) 4,183 4,721 +12.9 (1) EBIT (in EUR million) 348 305 -12.1 (1) EBIT margin (in percent) 8.3 6.5 -1.8 (2) (1) in percent (2) in percentage points
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Press release Page 5 of 6 DHL Supply Chain continued its growth trajectory in the second quarter of 2026. All regions recorded higher revenue growth than in the prior-year quarter, with the Americas region making a particularly strong contribution to the positive development, supported by sectors including Life Sciences & Healthcare, Auto-Mobility, and Engineering & Manufacturing. Earnings were below the exceptionally high prior-year level, which had benefited from positive one-off effects. Excluding one-offs, the division's underlying operating performance continued to develop positively. DHL eCommerce: Structural e-commerce trend remains intact DHL eCommerce Q2 2025 Q2 2026 YOY in % Revenue (in EUR million) 1,656 1,594 -3.7 (1) EBIT (in EUR million) 56 54 -4.0 (1) EBIT margin (in percent) 3.4 3.4 ±0.0 (2) (1) in percent (2) in percentage points Reported revenue development at DHL eCommerce in the second quarter of 2026 continued to be affected by the accounting impact of the merger with Evri and the resulting loss of the revenue contribution from the United Kingdom. Excluding consolidation and currency effects, the division recorded strong revenue growth in the second quarter, supported by the continued structural growth trend in e-commerce. The integration of recent acquisitions and the ongoing development of its network capabilities continue to strengthen the division’s long-term competitiveness. Post & Parcel Germany: Parcel growth supports business performance Post & Parcel Germany Q2 2025 Q2 2026 YOY in % Revenue (in EUR million) 4,150 4,225 +1.8 (1) EBIT (in EUR million) 166 135 -18.7 (1) EBIT margin (in percent) 4.0 3.2 -0.8 (2) (1) in percent (2) in percentage points Post & Parcel Germany developed in line with expectations in the second quarter of 2026. Growth continued to be driven by the domestic and international parcel business. The structural decline in mail volumes continued and was further amplified by the absence of positive election-related effects from the previous year. At the same time, higher transportation and personnel costs weighed on earnings performance. The division remains focused on improving productivity, maintaining cost discipline, and continuously enhancing its network and processes.
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Press release Page 6 of 6 – End – You can find the press release for download and further information at www.group.dhl.com/pressreleases The complete quarterly statement is available for download at reporting-hub.group.dhl.com Note to editors: The conference call for investors will be streamed from 10 a.m. CEST at https://reporting-hub.group.dhl.com/ Media Contact DHL Group Media Relations Daniel Gabel Jessica Scholl Phone: +49 228 182-9944 E-mail: pressestelle@dhl.com On the internet: group.dhl.com/press Follow us at: twitter.com/DHLglobal DHL Group is the world’s leading logistics company. The Group connects people and markets and is an enabler of global trade. It aspires to be the first choice for customers, employees, investors and green logistics worldwide. To this end, DHL Group is focusing on accelerating sustainable growth in its profitable core logistics businesses and Group growth initiatives. The Group contributes to the world through sustainable business practices, corporate citizenship, and environmental activities. By the year 2050, DHL Group aims to achieve net-zero emissions logistics. DHL Group is home to two strong brands: DHL offers a comprehensive range of parcel, express, freight transport, and supply chain management services as well as e-commerce logistics solutions. Deutsche Post is the largest postal service provider in Europe and the market leader in the German mail market. DHL Group employs approximately 584,000 people in over 220 countries and territories worldwide. The Group generated revenue of approximately 82.9 billion Euros in 2025. The logistics company for the world.