News / Contract logistics the star performer for DHL, but weak rates take a toll

German logistics giant DHL saw group operating profit (Ebit) in the first quarter decline by nearly 20% year on year as trading in the early months remained sluggish and returns tumbled from €1.6bn last year, to €1.3bn.

Group-wide revenue was relatively stable, at €20.3bn, compared with €20.9bn in the first quarter of 2023, as “a broad and dynamic economic upturn failed to materialise in the first three months of the year”, the company said.

It reconfirmed its full-year forecast of an Ebit ...