Deutsche Post AG

Latest Results (12.03.2026):

Deutsche Post AG — Q3 2025: Group revenue fell to €20,128m (-2.3% y/y) while operating profit strengthened: EBIT rose 7.6% to €1,477m and consolidated net profit for the quarter increased to €888m (€840m attributable to Deutsche Post AG shareholders), lifting basic EPS to €0.75. Free cash flow and operating cash generation improved materially, the company completed further share buybacks and closed the Evri transaction for DHL eCommerce UK, and management left the 2025 outlook unchanged.

Key income statement moves

Q3 2025 revenue €20,128m (-2.3%); EBIT €1,477m (+7.6%); profit before tax €1,269m; consolidated net profit €888m (+9.5% vs prior quarter year), basic EPS €0.75 (Q3 2024: €0.64).

Cash flow and liquidity

Net cash from operating activities in Q3 €2,612m (up vs €2,043m prior year); free cash flow €1,203m (+66.6% y/y). Centrally available liquidity €1.4bn and undrawn €4.0bn syndicated facility; cash & cash equivalents €3,550m as of Sept 30, 2025.

Balance sheet / leverage

Net debt increased to €21,279m (Dec 31, 2024: €18,998m). Equity attributable to shareholders fell to €21,537m. Management highlights solid liquidity but higher net debt due partly to buybacks and transactions.

Capital allocation — buybacks and M&A

As part of the 2022–2026 buyback program, Q3 repurchases totaled 10.8m shares for €419m; cumulative repurchases to date 113.5m shares (€4,409m). Merger of DHL eCommerce UK into Evri completed for accounting: deconsolidation gain €183m (pre‑costs) and agreed cash payment of €343m payable in Q4 2025; Deutsche Post holds a 30% stake accounted for using the equity method.

Divisional highlights — Express

Express revenue €5,867m (-3.2% y/y, negative currency effects €195m); TDI volumes down 10.6% daily; EBIT €692m (+0.8%) with a Q3 margin of 11.8%, supported by cost discipline and productivity measures.

Divisional highlights — Global Forwarding & Freight

Division revenue €4,572m (-9.2%) driven by lower freight rates; EBIT fell 29.6% to €195m (margin 4.3%), including restructuring-related non-recurring effects.

Divisional highlights — eCommerce and Supply Chain

eCommerce revenue €1,693m (+2.9%); EBIT €176m in Q3 (contains a €183m deconsolidation gain; excluding non-recurring items margin ~3.1%). Supply Chain revenue €4,412m (-0.4%); EBIT €278m (+1.6%), supported by new contracts and productivity gains.

Divisional highlights — Post & Parcel Germany

Revenue €4,242m (+4.7%) driven by parcel pricing and volumes; EBIT €218m (+27.3%), with Q3 return on sales 5.1% despite continued decline in letter mail volumes.

Investment and operational items

Q3 capex €632m (mainly network infrastructure). EBIT after asset charge (EAC) rose to €545m in Q3. Group invested in productivity, digitalization and network adjustments to address volume declines and margin pressure.

Outlook and risks

Management left the 2025 forecast unchanged. Key medium-significance risks include changing US import/tariff rules (de‑minimis removal) affecting volumes to the US and potential trade-policy escalation; identified opportunities include network rebalancing and yield/cost measures.