DHL's accounts receivable for the third quarter of 2023 are fresh!

After the surge of demand during the COVID-19 crisis, the logistics market is continuing to return to the normal state before the pandemic. In addition, the disturbing global geopolitical and economic situation has affected the newly released financial performance of DHL Group in the third quarter.

The group stated that, as expected, its performance in the third quarter of this year was lower than the same period in 2022. DHL's revenue in the third quarter of this year was 19.4 billion euros, compared to 24 billion euros in the same period last year, and its operating profit (before interest and tax) was 1.4 billion euros, down from 2 billion euros last year.

The lower freight volume and rates, as well as exchange rates and fuel costs, have affected DHL's business.

Despite these declines, the group still maintained a cash flow surplus. The company stated, "This proves that even in a weak economic environment, DHL Group has improved its performance and financial strength structurally

Tobias Meyer, CEO of DHL Group, said: "After the prosperity related to the pandemic, global trade continues to normalize, and the recovery of the global economy has not yet been achieved, also in the context of rising interest rates and geopolitical crises

He said, "We have made plans for different situations earlier, so we are achieving our goals for this year smoothly." In the current market environment, we will closely monitor our costs and continue to invest in the growth areas of our global business and our service quality. We are ready to respond to the global economic recovery

DHL is investing in sustainable business activities such as low emission logistics infrastructure, automation of operational processes, and digitization.

DHL stated, "By strengthening its global DHL network, the group also provides its customers with comprehensive warehousing strategy solutions to reduce their dependence on individual locations and increase their diversification

DHL Group's comprehensive revenue in the first nine months of 2023 was 60.4 billion euros, compared to 70.7 billion euros in the same period of 2022. Operating profit also decreased year-on-year, from 6.5 billion euros to 4.7 billion euros.