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DHL cuts profits outlook on weak B2B volumes

DHL cut its assistance for 2024 profits before interest and taxes (EBIT) on Wednesday, pointing out constantly weak businesstobusiness mail volumes and lowerthanexpected margins in its air freight forwarding organization.

The business now expects an EBIT of 5.8 billion euros ($ 6.3. billion) for the year, below a previously anticipated range of. 6-6.6 billion euros.

DHL also cut its medium-term development forecast based on the. upgraded outlook for 2024 and the weaker macroeconomic. environment in Europe. It now anticipates an EBIT of 7 billion euros. by 2026, below a previous variety of 7.5-8.5 billion euros.

The new guidance falls short of analysts' expectations,. who see EBIT to reach 5.9 billion euros in 2024 and 7.4 billion. euros in 2026, according to a company-provided consensus.

DHL also reported a third-quarter EBIT of 1.4 billion. euros, in line with market expectations, however flagged underlying. company development was already showing weaker dynamics in. business-to-business volumes.

(source: Reuters)