DHL's cautious profit outlook sends shares lower

By Emanuele Berro

March 5 (Reuters) - DHL ‌on Thursday gave ​a ​2026 outlook that leaned towards the cautious side of analysts' expectations, as a weak macroeconomic backdrop weighs on the ‌delivery major's prospects.

Shares of the German logistics group fell 3% ⁠by 0919 GMT and were at the bottom of the country's blue-chip index.

DHL expects ‌its earnings before interest and ‌taxes to exceed 6.2 billion euros ($7.2 billion) this year, after reporting an operating profit of 6.1 billion euros for 2025.

The EBIT outlook ​was slightly below analysts' average forecast in a company-provided consensus.

"There is still significant geopolitical volatility and uncertainty out there, as we have ⁠already seen in the first two months of the year," CEO Tobias Meyer said in ​a statement. "Our forecast does not assume any improvement in the global economic environment."

Logistics and shipping companies are facing mounting ​disruptions across air and sea routes as ‌the conflict in the Middle East intensifies.

However, DHL has historically benefitted from turmoil in the Middle East more ⁠than it has suffered from it, Meyer said during a call with investors.

"We have a very well established road network in the Middle East which enables us ⁠to bring cargo to those airports that are open," he added.

DHL's fourth-quarter operating ​profit fell 1.3% to 1.83 billion euros, as expected by analysts, weighed down by its freight forwarding business, where earnings slumped 36%.

European shipping and logistics operators have ‌been grappling with weaker demand and a series of trade disruptions, including a raft of tariffs imposed by ‌U.S. President Donald Trump.

"In air and ocean freight, we see declining freight ⁠rates. In road freight, we ‌feel the weak economic ​situation in Europe, and especially in Germany," Meyer said.

($1 = 0.8591 euro)

(Reporting by Emanuele Berro and Matthias Inverardi; editing by ‌Milla Nissi-Prussak)

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