Slide 1: Q1 2024 Results
Q1 2024 RESULTS MELANIE KREIS, GROUP CFO DHL GROUP INVESTOR RELATIONS May 7th, 2024 1
Slide 2: Q1 2024 Group Highlights
Management comments: B2B volumes did not show any meaningful acceleration yet, as expected. B2C volumes in domestic markets continued to follow the structural e-commerce driven growth path. Economic indicators increasingly point to positive signals confirming our assumption that global trade environ
Slide 3: B2B volumes development
Management comments: As expected, our cyclical B2B businesses have not seen any meaningful acceleration in activity levels just yet. While air and ocean freight volumes are back to growth in Q1 compared to a low base in Q1 2023, B2B TDI Express volumes show more stable yoy development confirming the
Slide 4: Short-term focus: Cost control
Management comments: In the absence of a meaningful volume recovery yet, we have continued to execute our EBIT protection plan across the group as part of our short-term cost saving measures to safeguard profitability. Even in our fixed-asset network in Express, we have well-established levers to fl
Slide 5: Capex management
Management comments: In Q1 2024, Group capex (owned assets) was down -15% yoy as we were able to cut capex in reaction to the continued weak B2B volumes and hence low network utilization. At the same time, our financial strength allows us to continue to invest into long-term structural growth opport
Slide 6: Q1 2024 Group EBIT of €1,314m (-20% yoy)
Management comments: While B2B volumes have not seen a meaningful acceleration yet in Q1, Supply Chain continued to show yoy EBIT growth in the quarter thanks to its strong pipeline of new business signings. P&P Germany saw EBIT support from parcel volume growth and cost measures – so that Q1 EBIT a
Slide 7: Express: Deep-Dive
Management comments: Looking at the Express business model and the more detailed shipment cycle, it is clear that the prolonged volume decline is driving lower network utilization all along the network. Our EBIT protection plan and capacity reduction measures in our airlift and ground operations hel
Slide 8: Express mid-term perspective
Management comments: While utilization across the global network is low, EBIT remains significantly above pre-pandemic levels, reflecting the structurally higher earnings generation. From this basis, a return to Express EBIT growth is a key driver of our 2026 Group guidance. Our underlying market as
Slide 9: Factors influencing 2024 guidance
Management comments: Q1 developed in line with the expectations set out for H1 2024: B2B volumes did not show any meaningful acceleration yet while B2C volumes in domestic markets continued their structural growth path. Recently, economic indicators increasingly point to positive signals, confirming
Slide 10: 2024 and mid-term guidance confirmed
Management comments: The guidance for 2024 and 2026 remains unchanged as YTD developments were in line with our assumptions so far. Some economic indicators increasingly point to positive signals confirming our assumption for the economic improvement to be more visible in the second half of the year
Slide 11: CFO Wrap-up
Management comments: While economic acceleration is yet to come, we are using our stringent cost focus to safeguard profitability and invest into the structural current and future growth drivers. We will be able to fully benefit from operating leverage once B2B volumes return to growth. Furthermore,
Slide 12: Appendix
APPENDIX Q1 2024 RESULTS | DHL GROUP INVESTOR RELATIONS | 7 MAY 2024 12 12
Slide 13: Group P&L and Cash Flow
Group P&L and Cash Flow Q1 2024 developments in line with expectations Revenue €20,251m Operating Cash Flow €2,001m (-3.2% yoy) (-16.5% yoy) EBIT €1,314m Net Capex -€671m (-19.8% yoy) (+13.6% yoy) Net Profit* €743m Net M&A -€16m (-18.4% yoy) (<-100% yoy) Basic EPS (in €) €0.63 Free Cash Flow €608m (
Slide 14: Global Forwarding, Freight
Global Forwarding, Freight Volume growth yoy mostly driven by low base effect; gross profit margins stabilizing Air Freight (AFR) Ocean Freight (OFR) 826 6 00 1 80 0 8 00 8 00 523 711 1 60 0 676 451 5 00 7 00 7 00 589 426 1 40 0 531 6 00 6 00 4 00 359 1 20 0 5 00 5 00 335 1 00 0 3 00 433 435 ▪ Retur
Slide 15: Supply Chain
Supply Chain Leveraging structural outsourcing tailwinds towards sustainable €1bn+ annual EBIT run rate RESILIENCE E-COMMERCE DIGITALIZATION OMNI-SHORING €3.5bn 90%+ Total Contract Value Sites with Accelerated Digitalization ▪ Steady topline growth, mainly driven by strong pipeline of new signed in
Slide 16: eCommerce
eCommerce Attractive structural e-commerce growth; currently in network expansion & investing phase Q42019-Q12024 B2C Europe Volumes* rollingfourquarters, indexed +72% (Q1: +7% yoy) ▪ Structural e-commerce trend fully confirmed (like-for-like B2C volume: +7% yoy in Europe; +8% yoy globally) ▪ Annual
Slide 17: Post & Parcel Germany
Post & Parcel Germany Working through major structural transformation from Mail to Parcel Mail vs. Parcel Volume development Q42019-Q12024 rollingfourquarters, indexed +25% ▪ Structural e-commerce trend fully confirmed with 7% volume ▪ Q1 volume developing in line with long-term trends: Accelerated
Slide 18: Disclaimer
Disclaimer This presentation contains certain statements that are neither reported results nor other historical information. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statem