BONN (dpa-AFX) - German logistics company DHL Group (DPSGY.PK) on Thursday reported improved results in its fourth quarter, helped by strong performances in its Global Forwarding, Freight, and eCommerce divisions. The company also raised its share buyback program to 6 billion euros.
Further, the company announced reduction of around 8,000 jobs at Post & Parcel Germany in 2025 as part of its Group cost program 'Fit for Growth', which is designed to structurally improve cost base by more than 1 billion euros.
During the three-month period, the company posted consolidated net profit of 1.10 billion euros or 0.93 euro per share, 12.1 percent higher than last year's 979 million euros or 0.81 euro per share.
The company's EBIT in the fourth quarter climbed 12.9 percent to 1.85 billion euros from 1.64 billion euros in the same period in fiscal 2023.
Quarterly group revenues came in at 22.70 billion euros, a 6.4 percent increase from 21.35 billion euros recorded in the prior-year period.
The company's Management Board and the Supervisory Board are expected to propose a dividend of 1.85 euro per share at its Annual General Meeting on May 2. Subject to shareholder's approval, DHL Group will distribute a total amount of 2.1 billion euros.
The Board of Management will also increase the company's share buyback program by 2 billion euros to a total of 6 billion euros. The program, which was launched in 2022 has also been extended till 2026.
Looking ahead, for fiscal 2025, the company expects an operating profit to be more than 6 billion euros and a free cash flow, excluding mergers and acquisitions, of approximately 3 billion euros.
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