DHL reported a 5.1 per cent increase in air freight volumes to 435,000 tonnes in Q1, primarily driven by trade growth between Asia and Europe, Tobias Meyer, CEO, said. However, the Global Forwarding, Freight (GFF) division experienced a 16.2 per cent drop in air freight revenue to €1.3 billion, and gross profit fell by 25.1 per cent due to lower freight rates. The Global Forwarding business unit saw a revenue decrease of 19.8 per cent to €3.2 billion, with a 17.6 per cent decrease in gross profit. Overall revenue in the GFF division decreased by 15.8 per cent to €4.5 billion to lower freight rates. Despite these challenges, DHL Group achieved €20.3 billion in revenue for the first quarter, a 3.2 per cent decline year-on-year.
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