Free cash flow (excluding M&A) exceeds guidance; earnings per share improved
The Group aligned its investments in the financial year 2025 with the volatile dynamics of global trade flows, while continuing to invest in regions and sectors with strong growth potential. Capital expenditures for owned assets amounted to EUR 3.0 billion in the financial year 2025, 3.8 percent below the prior-year period.
Free cash flow (excluding M&A) in the financial year 2025 rose 8.3 percent to EUR 3.2 billion, exceeding the guidance of around EUR 3 billion. Over the same period, DHL Group generated consolidated net profit attributable to Deutsche Post AG shareholders of EUR 3.5 billion, an increase of 5.1 percent year-over-year. Basic earnings per share improved 8.1 percent to EUR 3.09 compared to EUR 2.86 in the financial year 2024.
Strategy 2030 implementation
The Group Strategy 2030 “Accelerating Sustainable Growth,” introduced in September 2024, is based on four strategic dimensions: Employer of Choice, Provider of Choice, Investment of Choice, and Green Logistics of Choice. DHL Group continued to drive implementation in 2025 and achieved progress across all dimensions, including:
Employer of Choice:
- Employee satisfaction at 82 percent (target value of at least 80 percent)
- Occupational accident rate per one million working hours reduced to 13.3 (FY 2024: 14.5)
Provider of Choice:
- Expansion of clinical trial and specialty pharma logistics capabilities through targeted acquisitions (CRYOPDP, SDS Rx) and investments in network infrastructure
- Enhanced capabilities for handling hazardous goods and batteries
- Expansion of the e commerce network through targeted acquisitions (AJEX, IDS, Inmar)
Investment of Choice:
- Continued investments in countries with above-average growth potential (e.g., India, China, and Colombia)
- Higher capital efficiency, supported in part by structural cost improvements – Return on Invested Capital (ROIC) improved by 20 basis points to 13.9 percent
- Attractive shareholder returns through dividend payments and share buyback program; share buybacks with a volume of EUR 1.4 billion in 2025
Green Logistics of Choice:
- Reduction in greenhouse gas emissions to 32.3 million tonnes of CO2e (2025 target: maximum 34.7 million tonnes CO2e; Scopes 1, 2, and 3)
- Share of Sustainable Aviation Fuel in the company’s own aircraft fleet (Scope 1) increased to 10.0 percent (FY 2024: 3.5 percent)
- Expansion of the pick up and delivery electric vehicle fleet to approximately 45,400 electric vehicles (FY 2024: approximately 39,100)
Modernization of Group structure on track:
As part of Strategy 2030, DHL Group announced plans to modernize its Group structure. The objective is to align the Group’s legal structure with its management structure. In addition, the publicly listed parent company is planned to be renamed DHL AG. The required carve-down agreement will be presented to shareholders for approval at the Annual General Meeting on May 5, 2026.
Dividend increase
The Board of Management and Supervisory Board intend to propose a dividend increase to EUR 1.90 per share (2024: EUR 1.85 per share) at the upcoming Annual General Meeting. Subject to shareholder approval, the total payout would amount to EUR 2.1 billion. Based on the proposed dividend, the payout ratio would be 60.6 percent of net profit, slightly above the target range of 40 to 60 percent. Based on the year-end share price, this would yield 4.1 percent.