DHL - VNPT EXPRESS LTD

DHL - VNPT EXPRESS LTD, a joint venture between Deutsche Post International BV (Netherlands, 51%) and Vietnam Post (VNPT) (49%), has long been considered a reputable express delivery provider in Vietnam. Since 2006, with a workforce of around 700 employees, the company has had a strong national footprint, with hubs in Ho Chi Minh City, Hai Phong, Da Nang, and Dong Nai.

While the DHL brand brings global credibility, and VNPT ensures local connectivity, the company’s latest financials suggest a phase of stabilization rather than expansion — something worth noting for potential partners, clients, and suppliers.

Key Observations

In 2023, sales dropped significantly—falling more than 22% year-on-year, down to approximately USD 112 million from over USD 143 million the year before. This decline represents a major shift for a logistics company, especially during a period when e-commerce and express delivery continue to thrive in many markets.

Profit also fell by 20%, from nearly USD 3.76 million in 2022 to USD 3 million in 2023, though this still reflects a healthy margin for the sector. However, it’s essential to recognize that profits had previously surged in 2022, making this recent drop a signal that the high-growth momentum may be flattening.

At the same time, total assets shrank by nearly 10%, continuing a downward trend from the previous year. Working capital stood at just over USD 1.2 million, which could be seen as modest compared to the scale of operations. When viewed together, these changes raise questions about whether the company is optimizing for efficiency or facing cost or demand-side pressures in the Vietnamese logistics market.

Why This Matters

From a due diligence and credit perspective, DHL - VNPT is still financially sound and operationally active, but it's no longer in aggressive growth mode. For partners looking for reliable service — especially with international logistics and customs integration — DHL-VNPT remains a strong option. But for those interested in long-term investment, vendor agreements, or corporate partnerships, it’s essential to look closely at how the company adapts to post-boom logistics demand, price competition, and internal restructuring.

At VANGUARD BUSINESS INFORMATION LLC (VNBIS), we provide detailed, data-driven insights to help clients look beyond the brand and assess a company’s real-time financial health, market dynamics, and operational resilience. Before making your next move in Vietnam’s logistics or B2B services sector, ensure you’re armed with a full VNBIS report — where honest analysis helps you minimize risk and maximize opportunity.