Deutsche Post, operating as DHL Group, reported a mixed financial performance for the third quarter of 2024. Despite a 6.2% increase in revenue to €20.6 billion, the logistics giant saw its net profit decline by nearly 7% to €751 million. This downturn in profitability was attributed to rising personnel costs, a decrease in letter volumes, and weak margins in air freight operations. The company's operating profit (EBIT) remained relatively stable at €1.37 billion.
Revised Outlook and Market Response
In light of these results, Deutsche Post has adjusted its earnings forecast downward. The company now expects an operating profit of over €5.8 billion for 2024, a significant reduction from its initial target. Looking ahead to 2026, the group has also lowered its medium-term growth projection for EBIT to exceed €7.0 billion. These revisions reflect the challenges faced in a complex market environment. The stock market reacted negatively to this news, with the company's shares experiencing a decline. Analysts, while expressing disappointment in the letter business performance, noted positively on the express delivery segment's development.
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