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DHL Group meets market expectations in Q3 2023 and provesfinancial strength in weak global environment
Continuing weak global economic development and thenormalization of freight transport after the pandemic-related boomof 2021 and 2022 also impacted the third quarter of 2023. Asexpected, the Group did not match the prior-year figures withrevenue of EUR 19.4 billion (Q3 2022: EUR 24.0 billion) andoperating profit (EBIT) of EUR 1.4 billion (Q3 2022: EUR 2.0billion). Lower freight volumes and rates as well as exchange rateand fuel cost effects impacted the DHL business. Earnings for thePost & Parcel Germany division reflect cost increases and thedetrimental regulatory environment for the mail business.
Despite these external effects, the Group achieved free cashflow of EUR 1.1 billion in the third quarter and EUR 2.5 billion inthe first nine months of 2023. This proves DHL Group's structurallyimproved performance and financial strength even in a weak economicenvironment.