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DHL releases first quarter 2024 results

DHL releases first quarter 2024 results
DHL releases first quarter 2024 results

DHL Group has seen a steady start to the new fiscal year in 2024. Although the global economy didn’t improve much in the first quarter, the company still made $21.913 billion, slightly less than $22.561 billion the year before. 

The operating profit was $1.4 billion, not as high as last year’s $1.7 billion but still better than the $1.2 billion from the first quarter of 2019, before the pandemic.

In announcing the results, DHL Group CEO Tobias Meyer says: “We are in an unusually long phase of low momentum in global trade. In this environment, we continue to focus on consistent capacity and cost management. However, we also see further growth potential. 

Customers aware of sustainable logistics 

Consumers are increasingly aware of the environmental impacts of their purchases, including the shipping and delivery process. 

Meyers adds the the demand for omnishoring and e-commerce solutions remains high and the company’s customers are becoming increasingly aware of sustainable logistics. 

In March, DHL Supply Chain unveiled the latest addition to its logistics infrastructure: a multi-user facility in Coventry, UK. 

The facility also features a robust infrastructure of 3000 solar panels, integrated with a bespoke onsite battery storage system developed by DHL’s in-house digital manufacturing team, furnishes over 40% of the site’s electricity needs, markedly enhancing energy self-sufficiency. 

Sticking with sustainability, the company announced it would increase its delivery capabilities in Sweden by adding about 1,000 new parcel lockers in 2024. On announcing this initiative, the company highlighted that the evolving consumer preferences and requirements encompass various factors such as flexibility, price, service level, availability, and sustainability. 

Customers willing to prioritize sustainability 

Consumers have become aware of the environment when making their purchases. A recent study by supply chain management company Blue Yonder shows that 78% of respondents say sustainability is a determining factor when choosing to purchase a product or shop at a particular retailer. 

Here’s a scenario: An eco-conscious small business owner who sells sustainable home products will choose a logistics provider known for its green practices like using electric vehicles and offering carbon-neutral shipping. The business owner uses this provider to align their shipments with their environmental values, promoting these practices to attract customers who prioritize sustainability. This may enhance her brand’s reputation and appeal in the market. 

ALSO READ: Sustainability trends 2024: From greenwashing to transparency

Photo Credit: DHL

About the author

Sharl is a qualified journalist. He has over 10 years’ experience in the media industry, including positions as an editor of a magazine and Business Editor of a daily newspaper. Sharl also has experience in logistics specifically operations, where he worked with global food aid organisations distributing food into Africa. Sharl enjoys writing business stories and human interest pieces.

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