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Deutsche Post DHL Q2 Profit Climbs; Maintains FY20, FY22 Profit View

Deutsche Post DHL Group (DPSGY.PK) reported Wednesday that its second-quarter consolidated net profit climbed 14.6 percent to 525 million euros from 458 million euros last year. Earnings per share were 0.42 euro, up 16.7 percent from 0.36 euro a year ago.

Operating profit or EBIT grew 18.6 percent from last year to 912 million euros. Adjusted for non-recurring effects, EBIT climbed even by 229 million euros to 1.1 billion euros.

Group revenue increased 3.1 percent to 15.96 billion euros from last year's 15.48 billion euros in spite of Covid-19, benefited by its broad portfolio of logistics services and its global presence.

Both EBIT and revenues were slightly above the preliminary quarterly projections released in July.

Organic revenue growth, adjusted for portfolio and currency effects, was even higher at 4.6 percent, mainly driven by strong growth in e-commerce.

CEO Frank Appel said, "Especially now, our focus on our profitable core logistics businesses and the digital transformation of the company as part of Strategy 2025 pays off."

Further, for fiscal 2020, the company continues to expect operating profit to reach between 3.5 billion euros and 3.8 billion euros.

The company also maintained its fiscal 2022 outlook issued in July. Deutsche Post DHL expects Group EBIT of around 4.7 billion euros to more than 5.3 billion euros for 2022, depending on the shape of the general economic recovery.

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