DHL Group exceeds Q2 expectations
DHL Express reported EBIT of around EUR 1,195 million in Q2, significantly above the prior-year figure (EUR 730 million, which included EUR -30 million Cost of Change), reflecting a very favorable operating leverage effect of the return to weight growth. Results are further supported by around EUR 150 million driven by capacity constraints in the air freight market.
DHL Global Forwarding generated EBIT of around EUR 240 million, including an estimated positive effect of low-to-mid double-digit million from successfully managing market disruptions (prior year: EUR 196 million, including EUR -19 million Cost of Change).
DHL Supply Chain recorded earnings of around EUR 305 million. The prior-year result of EUR 348 million included positive non-recurring effects of EUR 54 million.
DHL eCommerce reported EBIT of around EUR 50 million, slightly below the prior-year level (EUR 56 million, including EUR -8 million Cost of Change). In the Q2 EBIT, a non-recurring positive effect of around EUR 20 million related to M&A in Iberia was offset by other negative non-recurring items.
Post & Parcel Germany achieved EBIT of around EUR 135 million (prior year: EUR 166 million).
In light of the recent earnings momentum and assuming no further worsening of the geopolitical situation, management has decided to raise its outlook for the full year 2026 as follows: Reported Group EBIT is now expected to exceed EUR 6.5 billion (previously: above EUR 6.2 billion).
Expected EBIT for the DHL divisions has been increased to more than EUR 5.9 billion (previously: above EUR 5.6 billion). The outlook remains unchanged for Post & Parcel Germany (EBIT above EUR 900 million) and for Group Functions (around EUR -400 million).
The full Q2 2026 report will be published as scheduled on August 5, 2026.
