Strong Q1 Performance: DHL Group reported a 5% increase in earnings for Q1 2025, underpinned by slight revenue growth. The company maintained a solid free cash flow, with EBIT improvements particularly noted in Express supply chain and supply chain segments, despite a subdued macro environment.
Guidance Unchanged: The company confirmed its 2025 EBIT guidance amidst ongoing volatility related to U.S. trade policies. Despite fluctuations, the overall performance in Q1 was in line with expectations, which allowed management to maintain confidence in their full-year forecasts.
Impact of U.S. Trade Policy: There are mixed effects from recent changes in U.S. trade policy, creating both opportunities and challenges. While there is a recognized structural decline in certain trade areas, especially China-U.S., the reconfiguration of supply chains may present new logistics opportunities that could be beneficial for DHL, given its extensive global footprint.