The ongoing boom in online trading brought Deutsche Post DHL another record result in the second quarter. The operating profit (EBIT) was almost 2.1 billion euros, more than twice as high as in the previous year, as the group reported on Wednesday, citing preliminary figures. The logistics group therefore raised its earnings forecast for 2021 and the medium-term earnings outlook for 2023.
High growth
According to the dpa, CEO Frank Appel emphasized: “The second quarter has once again proven that world trade continues to recover and the e-commerce boom is lasting – although we are benefiting greatly from both developments.” According to him, all of the Group’s divisions continued to work at full speed worldwide and were able to significantly exceed their previous year’s results. as can also be seen from a message from Swiss Post.
The Post & Parcel Germany division alone achieved an EBIT of 315 million euros, compared to 264 million euros in the previous year. There was also a particularly strong upward trend in the Express division. Here the EBIT rose to around 1,170 million euros after 565 million euros in the same quarter of the previous year. The Global Forwarding, Freight division recorded an increase in the three-digit million range to 315 million euros, compared with 190 million euros in the second quarter of the previous year. With the lockdowns in the Corona crisis, the trend towards online trading has intensified and is apparently continuing after the easing.
Many consumers have increasingly ordered parcels from home. The group now expects earnings before interest and taxes (EBIT) of more than 7 billion euros this year. So far, the company had assumed more than 6.7 billion euros. The group also raised the medium-term outlook for 2023. Here, the Post now expects a group EBIT of more than 7.4 billion euros instead of the previous 7 billion euros.
Corona special bonus for employees
At the same time, Appel announced a further special corona bonus of 300 euros for the company’s approximately 550,000 employees. Swiss Post has repeatedly increased its forecast over the past few months. The first quarter was also strong. Meanwhile, the group pointed out on Wednesday that the situation in air and sea freight is tense. The capacities remained tight. Because of the slump in air traffic caused by the crisis, the cargo industry lacks a large part of the space in the bellies of passenger jets.
After the soaring of the Deutsche Post share in recent weeks, the stock market was initially largely unimpressed by the preliminary figures in the annual report. The share traded with a slight plus on Thursday morning at EUR 58.66. As planned, Swiss Post plans to present the detailed quarterly report on August 5.
(olb)
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