DHL bolsters buyback plan and confirms outlook after Q2 beat

By Anastasiia Kozlova and Matthias Inverardi

Aug 5 (Reuters) - German logistics group DHL increased its share buyback programme by €500 million ($577 million) and reiterated its annual forecasts after its second-quarter results beat market expectations on Wednesday.

Launched in 2022, the share repurchases will now amount to up to €6.5 billion and run until the end of 2027, it said.

Second-quarter revenue rose 13% from a year ago to €22.4 billion, beating analysts' consensus of €20.41 billion provided by the company, driven by higher shipment volumes at DHL Express, air freight capacity constraints and the pass-through of fuel costs.

Commenting on low water levels on the Rhine, CEO Tobias Meyer told a press call that the impact on DHL's operations had been limited, though some containers experienced delays as shipments were shifted from river transport to roads.

Rico Luman, senior logistics and automotive analyst at ING, said the situation was weighing on industrial activity along the river and driving up freight rates for both inland shipping and road transport.

Meyer also said the overnight drone incident at Leipzig Airport, one of DHL's key logistics hubs, had disrupted some operations, but the company had contingency plans in place and was working to minimise any impact on customers.

SUPPLY-CHAIN SHIFTS SUPPORT LOGISTICS OUTLOOK

DHL's strong results demonstrate how logistics companies benefit from customers having to navigate a volatile trade environment marked by tariff uncertainty, geopolitical tensions and shifting supply-chain routes.

The German group was among the first major European logistics companies to raise its 2026 guidance in July, and it has been joined by peers such as Hapag-Lloyd , Maersk , DSV  and Kuehne und Nagel .

The Middle East conflict will support the outlook for logistics providers through the remainder of 2026, even if a resolution is reached later this year, Luman said ahead of the results.

($1 = 0.8667 euros)

(Reporting by Anastasiia Kozlova and Matthias Inverardi; editing by Milla Nissi-Prussak)