Financials DHL Group

Equities

DHL

DE0005552004

Air Freight & Logistics

Market Closed - Xetra Other stock markets 11:35:12 2025-06-23 EDT			After hours 15:59:54
39.89 ^EUR	-1.80%		40.10	+0.51%

06-20	Deutsche Post AG Announces Executive Changes	CI
06-20	GXO Logistics Names Patrick Kelleher CEO -- Update	DJ

Projected Income Statement: DHL Group

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	66,806	81,747	94,436	81,758	84,186	86,401	88,866	92,341
Change	-	22.36%	15.52%	-13.42%	2.97%	2.63%	2.85%	3.91%
EBITDA ¹	8,677	11,746	12,613	10,822	10,606	10,981	11,477	12,128
Change	-	35.37%	7.38%	-14.2%	-2%	3.53%	4.52%	5.67%
EBIT ¹	4,847	7,978	8,436	6,345	5,886	6,073	6,504	6,992
Change	-	64.6%	5.74%	-24.79%	-7.23%	3.18%	7.1%	7.49%
Interest Paid ¹	-618	-619	-525	-829	-823	-849	-811.4	-771.4
Earnings before Tax (EBT) ¹	4,171	7,359	7,911	5,516	5,063	5,053	5,512	5,953
Change	-	76.43%	7.5%	-30.27%	-8.21%	-0.2%	9.08%	7.99%
Net income ¹	2,979	5,053	5,359	3,677	3,332	3,468	3,739	4,039
Change	-	69.62%	6.06%	-31.39%	-9.38%	4.07%	7.83%	8.01%
Announcement Date	3/9/21	3/9/22	3/9/23	3/6/24	3/6/25	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1
Net sales ¹	15,959	16,244	19,116	18,860	19,473	20,036	23,378	22,593	24,029	24,038	23,776	20,918	20,094	19,398	21,348	20,251	20,639	20,592	22,704	20,809	21,201	20,907	23,175	21,567	21,596	21,575	23,708	21,895
Change	-	1.79%	17.68%	-1.34%	3.25%	2.89%	16.68%	-3.36%	6.36%	0.04%	-1.09%	-12.02%	-3.94%	-3.46%	10.05%	-5.14%	1.92%	-0.23%	10.26%	-8.35%	1.88%	-1.38%	10.85%	-6.94%	0.14%	-0.1%	9.88%	-7.65%
EBITDA ¹	-	-	-	-	3,036	2,744	3,125	3,168	3,346	3,087	3,035	2,709	2,777	2,490	2,846	2,385	2,517	2,527	3,097	2,590	2,510	2,503	3,120	2,676	2,702	2,703	3,339	2,832
Change	-	-	-	-	-	-9.62%	13.88%	1.38%	5.62%	-7.74%	-1.68%	-10.74%	2.51%	-10.33%	14.3%	-16.2%	5.53%	0.4%	22.56%	-16.37%	-3.1%	-0.28%	24.68%	-14.23%	0.96%	0.02%	23.53%	-15.19%
EBIT ¹	912	1,582	1,966	1,911	2,083	1,771	2,213	2,159	2,337	2,041	1,922	1,638	1,693	1,372	1,642	1,314	1,351	1,373	1,851	1,370	1,321	1,327	1,949	1,496	1,478	1,485	2,037	1,539
Change	-	73.46%	24.27%	-2.8%	9%	-14.98%	24.96%	-2.44%	8.24%	-12.67%	-5.83%	-14.78%	3.36%	-18.96%	19.68%	-19.98%	2.82%	1.63%	34.81%	-25.99%	-3.56%	0.41%	46.93%	-23.23%	-1.24%	0.47%	37.2%	-24.45%
Charge d'intérêts	-153	-183	-143	-154	-150	-	-	-123	-146	-152	-104	-	-220	-162	-222	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	757	1,194	1,779	1,757	1,918	1,629	2,055	2,036	2,191	1,889	1,795	1,413	1,473	1,210	1,420	1,146	1,150	1,158	1,613	1,186	1,051	1,045	1,479	1,222	1,205	1,230	1,760	1,325
Change	-	57.73%	48.99%	-1.24%	9.16%	-15.07%	26.15%	-0.92%	7.61%	-13.78%	-4.98%	-21.28%	4.25%	-17.85%	17.36%	-19.3%	0.35%	0.7%	39.29%	-26.47%	-11.42%	-0.55%	41.59%	-17.38%	-1.41%	2.07%	43.1%	-24.69%
Net income ¹	525	851	1,302	1,190	1,292	1,087	1,484	1,351	1,461	1,228	1,335	911	1,031	807	981	743	805	751	1,097	786	706.7	709.1	1,130	767.7	794.4	813.1	1,192	841
Change	-	62.1%	53%	-8.6%	8.57%	-15.87%	36.52%	-8.96%	8.14%	-15.95%	8.71%	-31.76%	13.17%	-21.73%	21.56%	-24.26%	8.34%	-6.71%	46.07%	-28.35%	-10.08%	0.33%	59.36%	-32.07%	3.49%	2.36%	46.65%	-29.47%
Announcement Date	8/5/20	11/10/20	3/9/21	5/5/21	8/5/21	11/4/21	3/9/22	5/3/22	8/5/22	11/8/22	3/9/23	5/3/23	8/1/23	11/8/23	3/6/24	5/7/24	8/1/24	11/5/24	3/6/25	4/30/25	-	-	-	-	-	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2021 S1	2022 S1	2023 S1	2024 S1
Net sales ¹	-	46,622	41,012	40,890
Change	-	-	-12.03%	-0.3%
EBITDA	-	-	-	-
Change	-	-	-	-
EBIT ¹	3,994	4,496	3,331	2,662
Change	-	12.57%	-25.91%	-20.08%
Charge d'intérêts	-298	-269	-455	-
Earnings before Tax (EBT) ¹	3,675	4,227	2,886	2,292
Change	-	15.02%	-31.72%	-20.58%
Net income ¹	2,482	2,812	2,020	1,604
Change	-	13.3%	-28.17%	-20.59%
Announcement Date	8/5/21	8/5/22	8/1/23	8/1/24

¹EUR in Million

Estimates

Forecast Balance Sheet: DHL Group

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	12,928	16,366	15,856	17,739	18,998	20,607	21,012	20,169
Change	-	26.59%	-3.12%	11.88%	7.1%	8.47%	1.97%	-4.01%
Announcement Date	3/9/21	3/9/22	3/9/23	3/6/24	3/6/25	-	-	-

¹EUR in Million

Estimates

Cash Flow Forecast: DHL Group

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	2,999	3,546	4,123	3,370	3,066	3,000	3,231	3,417
Change	-	18.24%	16.27%	-18.26%	-9.02%	-2.16%	7.72%	5.76%
Free Cash Flow (FCF) ¹	2,535	4,092	3,067	2,942	5,656	3,232	3,090	3,426
Change	-	61.42%	-25.05%	-4.08%	92.25%	-42.86%	-4.39%	10.87%
Announcement Date	3/9/21	3/9/22	3/9/23	3/6/24	3/6/25	-	-	-

¹EUR in Million

Estimates

Forecast Financial Ratios: DHL Group

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	12.99%	14.37%	13.36%	13.24%	12.6%	12.71%	12.91%	13.13%
EBIT Margin (%)	7.26%	9.76%	8.93%	7.76%	6.99%	7.03%	7.32%	7.57%
EBT Margin (%)	6.24%	9%	8.38%	6.75%	6.01%	5.85%	6.2%	6.45%
Net margin (%)	4.46%	6.18%	5.67%	4.5%	3.96%	4.01%	4.21%	4.37%
FCF margin (%)	3.79%	5.01%	3.25%	3.6%	6.72%	3.74%	3.48%	3.71%
FCF / Net Income (%)	85.1%	80.98%	57.23%	80.01%	169.75%	93.2%	82.64%	84.82%
Profitability
ROA	5.54%	8.5%	8.13%	7.98%	7.41%	4.94%	5.14%	5.63%
ROE	21.36%	30.8%	25.35%	19.22%	17.71%	14.44%	15.49%	16.07%
Financial Health
Leverage (Debt/EBITDA)	1.49x	1.39x	1.26x	1.64x	1.79x	1.88x	1.83x	1.66x
Debt / Free cash flow	5.1x	4x	5.17x	6.03x	3.36x	6.38x	6.8x	5.89x
Capital Intensity
CAPEX / Current Assets (%)	4.49%	4.34%	4.37%	4.12%	3.64%	3.47%	3.64%	3.7%
CAPEX / EBITDA (%)	34.56%	30.19%	32.69%	31.14%	28.91%	27.32%	28.15%	28.18%
CAPEX / FCF (%)	118.3%	86.66%	134.43%	114.55%	54.21%	92.82%	104.57%	99.75%
Items per share
Cash flow per share ¹	6.22	8.11	9.03	7.79	7.343	6.195	6.083	5.914
Change	-	30.39%	11.34%	-13.73%	-5.74%	-15.64%	-1.81%	-2.77%
Dividend per Share ¹	1.35	1.8	1.85	1.85	1.85	1.86	1.926	2.027
Change	-	33.33%	2.78%	0%	0%	0.52%	3.6%	5.2%
Book Value Per Share ¹	11.14	15.45	19.14	16.01	15.95	20.96	21.83	23.46
Change	-	38.66%	23.91%	-16.36%	-0.4%	31.45%	4.15%	7.47%
EPS ¹	2.36	4.01	4.33	3.04	2.81	2.969	3.29	3.631
Change	-	69.92%	7.98%	-29.79%	-7.57%	5.67%	10.8%	10.37%
Nbr of stocks (in thousands)	1,239,059	1,224,639	1,205,059	1,182,263	1,153,116	1,139,493	1,139,493	1,139,493
Announcement Date	3/9/21	3/9/22	3/9/23	3/6/24	3/6/25	-	-	-