DHL grows earnings in Q1 2026 despite geopolitical disruptions

DHL Group reported higher earnings for the first quarter of 2026, as it maintained operations despite geopolitical tensions and supply chain disruptions.

Profit rises as efficiency improves

DHL increased operating profit (EBIT) by 8.3% year-on-year to EUR 1.5 billion. The EBIT margin improved to 7.3%, up from 6.6% a year earlier.

Revenue reached EUR 20.4 billion, slightly below last year due to currency effects. On an organic basis, revenue grew by 2.0%.

Free cash flow rose sharply to EUR 1.2 billion, reflecting stronger operational performance and efficiency measures.

CEO Tobias Meyer said the company kept supply chains running despite blocked sea routes and restricted airspace.

Divisional performance mixed

DHL Express delivered strong results. EBIT rose over 20% and margins improved to 13.3%.
DHL Global Forwarding saw lower revenue and profit due to weaker freight rates, despite rising volumes.
DHL Supply Chain reported steady growth, supported by new contracts and e-commerce demand.
DHL eCommerce posted organic growth, though reported revenue declined due to currency and structural changes.
Post & Parcel Germany grew revenue but faced margin pressure from declining mail volumes and higher costs.

Investments support long-term growth

DHL increased capital expenditure to EUR 518 million, focusing on supply chain operations and parcel infrastructure.

The company continues to invest in:

data center logistics, with over 650,000 m² of new warehouse space planned in North America
fleet modernization, including fuel-efficient Boeing 777 freighters
electrification, with nearly 60% of delivery vehicles in Germany now electric.