DHL revenue up 3% in 2024

DHL Group today reported 84.2 billion euros ($90.9 billion) in revenue for 2024, an increase of 3% from 2023. The revenue increase was slowed by “a volatile market,” DHL Group said in today’s fourth-quarter earnings report. [caption id="attachment_57149203" align="aligncenter" width="1920"] DHL will further grow its 777F fleet in 2025. (Courtesy/DHL)[/caption] “We expect the global political and economic situation to remain volatile in 2025,” group CEO Tobias Meyer said in the report. DHL Group ’s EBIT for the year was $6.4 billion, down 7.2% year over year, and diluted earnings per share were $3.03, down 7.6% YoY. Revenue per division in 2023 was: $27.1 billion for Express, up 1.2% YoY; $21.2 billion for Global Forwarding, Freight, up 1.8% YoY; $19.1 billion for Supply Chain, up 4.3% YoY; $7.5 billion for eCommerce, up 10.2% YoY; and $18.7 billion for Post & Parcel Germany, up 2.7% YoY. The Express division increasingly focused on higher-value B2B shipments in 2024 and benefited from a peak-season demand surcharge , which was introduced in 2024, according to the report. DHL has been steadily expanding its fleet. DHL Express expects delivery of six new 777Fs this year, completing its orders for twenty-eight 777Fs from Boeing made between 2018 and 2022. DHL is placing the first of those six 777Fs (68144) with AeroLogic, which will fly it on a CMI basis. Unit 68144 departed the Boeing factory in Everett (PAE), Wash., to Leipzig (LEJ) today. Subsidiary airline DHL Air Austria added a third 767-300BDSF (29138, ex-TUI fly Netherlands) to its operations in July 2024 and subsidiary European Air Transport Leipzig (EAT) last year added an A330-200F (1708, ex-CMA CGM Air Cargo) and two A300-600Fs (722 and 717, both ex-ASL Airlines Ireland). EAT also transferred two 757-200PCFs (29380 and 29443) to DHL Aero Expreso (DAE). DAE’s fleet grew from six to ten aircraft in 2024, adding two newly converted 767-300BCFs (41994 and 41993, both ex-Jetran) and two 757-200Fs (29611 and 29607, both ex-Aerolease) from Europe. Expanding its Asia presence, DHL Express reached an agreement in July 2024 with Central Airlines, its first CMI provider in China. Central Airlines operates two DHL 777Fs (66079 and 66080), which were previously part of the DHL Air UK fleet. DHL Group’s Q4 revenue was $24.5 billion, up 6.4% YoY. Its Q4 EBIT was $2 billion, up 12.9% YoY, and diluted earnings per share were $1, up 14.8% YoY. Revenue per division in 2023 was: $7.4 billion for Express, up 4.4% YoY; $5.5 billion for Global Forwarding, Freight, up 12% YoY; $4.9 billion for Supply Chain, up 5% YoY; $2.2 billion for eCommerce, up 10.5% YoY; and $5.3 billion for Post & Parcel Germany, up 2.7% YoY. The global freight forwarding market in 2024 was undermined by capacity bottlenecks due to detours necessitated by the attacks in the Red Sea and other geopolitical conflicts, DHL said. Air and ocean cargo rates rose in 2024 due to high demand, especially from e-commerce , the company said. Shares of DHL Group ( OTCMKTS: DHLGY ) were up 11.76% from market open to $47.05 as of market close today. The company has a market capitalization of $56.5 billion. Lufthansa’s Logistics revenue up 9.6% YoY Lufthansa Group today reported $3.5 billion in 2024 revenue for its Logistics segment, which includes Lufthansa Cargo, up 9.6% YoY. The Logistics segment’s performance was buoyed by high cargo rates and strong business from Asia, the carrier group said in today’s Q4 earnings report. In addition to belly capacity on Lufthansa’s passenger aircraft, Lufthansa Cargo operates twelve 777Fs and four A321Fs. Also, AeroLogic , a joint venture between Lufthansa and DHL Express, operates twenty-two 777Fs. Lufthansa has ordered seven additional 777-8Fs, which it expects to receive from Boeing by 2030, according to the report. The carrier group reported $40.5 billion in overall operating revenue in 2024, up 6% YoY. Lufthansa also reported in 2024: Adjusted EBITDA of $4.3 billion, down 18.9% YoY; 17.1 billion available cargo tonne kilometers (CTK), up 10.5% YoY; 10 billion revenue CTKs, up 14% YoY; and Cargo load factor of 58.2%, up 1.8 percentage points YoY. “2024 was a year of two halves for the Lufthansa Group,” group CEO Carsten Spohr said in the report. “In the first six months, we still had to cope with a significant decline in operating profit, due, among other things, to strikes, delayed aircraft deliveries and operational challenges at our hubs.” “The trend was reversed in the course of the year with two consecutive quarters [of improvement] and, in the fourth quarter, we exceeded the previous year's profit.” The Logistics segment saw $1.1 billion in Q4 operating revenue, up 29.2% YoY. Lufthansa also reported Q4 overall operating revenue of $10.2 billion, up 7.8% YoY, and adjusted EBITDA of $1.1 billion, down 9.7% YoY. Q4 2024 was the best fourth quarter in Lufthansa Cargo’s history, excluding the Q4s during the pandemic from 2020 through 2022, the carrier said today. Shares of Lufthansa Group ( OTCMKTS: DLAKY ) were up 9.82% from market open to $8.50 as of market close today. Lufthansa Group has a market capitalization of $10.2 billion. Air France-KLM cargo revenue down 3.9% YoY Air France-KLM Group today reported $2.6 billion in 2024 cargo revenue, down 3.9% YoY. “In 2024, the air cargo industry experienced significant growth in demand after a slower start of the year,” the carrier group said in today’s Q4 earnings report. “Growth was mainly driven by e-commerce, combined with relatively tight capacity. Geopolitical tensions around the Red Sea and ocean shipping disruptions further elevated demand, particularly in Asia.” The carrier group reported $33.9 billion in 2024 operating revenue, up 4.8% YoY. Air France-KLM also reported in 2024: EBITDA of $4.6 billion, up 0.9% YoY; Diluted earnings per share of $1, up 126.8% YoY; 911,000 tonnes of cargo transported, up 4.1% YoY; 14.3 billion available tonne kilometers, up 1.8% YoY; and 6.8 billion revenue tonne kilometers, up 4.2% YoY. Air France-KLM reported $778 million in Q4 cargo revenue, up 10.9% YoY. Q4 cargo benefited from a better holiday peak season than in 2023, especially from Asia, the report stated. The carrier group reported $8.5 billion in Q4 operating revenue, up 6.4% YoY. It also reported in Q4: EBITDA of $1.1 billion, up 66.9% YoY; 250,000 tonnes of cargo transported, up 6.2% YoY; 3.6 billion available tonne kilometers, up 0.8% YoY; and 1.9 billion revenue tonne kilometers, up 6.8% YoY. Shares of Air France-KLM Group ( OTCMKTS: AFLYY ) were up 30.88% from market open to $1.22 as of market close today. The group has a market capitalization of $3.4 billion. Editor’s note: All amounts have been converted to U.S. dollars. Register now for Cargo Facts' essential regional events for industry stakeholders: Cargo Facts Asia 2025 on March 24-26 at the W Shanghai in China; and Cargo Facts EMEA 2025 on May 6-8 at the Shangri-La Bosphorus in Turkey.

DHL revenue up 3% in 2024

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