DHL reported an 8.1% year-on-year increase in airfreight volumes in the fourth quarter of 2024, reaching 468,000 tons, driven by seasonal peak demand, Red Sea-related disruptions, and strong e-commerce growth.
The Global Forwarding, Freight (GFF) division saw a 16.4% rise in airfreight revenue to €1.6 billion, with gross profit climbing 21.3%.
Total revenue for the GFF division in Q4 was up 12% year-on-year to €5 billion, reflecting sustained demand across key trade lanes.
For the full year, DHL’s airfreight volumes grew 6.8% to 1.8 million tons, with Asia-Europe routes playing a major role in driving demand.
While airfreight revenue increased by 4.1%, gross profit declined 11.3% due to lower freight rates earlier in the year.
Overall, the GFF division’s revenue rose by 1.8% to €19.5 billion, a figure that would have been 2.2% higher without negative currency effects.
DHL cited rising e-commerce demand and constrained capacity as key factors behind increasing freight rates in air and ocean freight throughout 2024.
DHL Group’s total revenue for Q4 increased 6.4% to €22.7 billion, while EBIT rose 12.9% to €1.9 billion. For the full year, revenue climbed 3% to €84.2 billion, though EBIT dropped 7.2% to €5.9 billion.
DHL continued expanding its freighter fleet in 2024, with contracts signed between 2018 and 2022 for 28 Boeing 777 freighters. The company expects to receive the final six aircraft in 2025.
It also strengthened its partnerships, securing agreements with Chinese cargo airline Central Airlines for the use of two DHL 777Fs.
In Europe, DHL Air Austria added a third 767-300F, while European Air Transport (EAT) incorporated an Airbus A330F and two A300-600Fs. Meanwhile, DHL Aero Expreso in Panama expanded its fleet from six to ten aircraft.
DHL is further investing in its global infrastructure, including an aviation maintenance facility at its Cincinnati hub in the U.S.
Tobias Meyer, DHL Group CEO remains optimistic about 2025. “We increased our revenue in 2024 despite the challenging environment.
“With a strong Q4 and good service quality, we achieved substantial growth. While the global political and economic landscape remains volatile, we will continue focusing on efficiency and sustainable growth through our ‘Fit for Growth’ initiative.”