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Deutsche Post DHL Q2 Profit Surges, Backs FY Guidance

German logistics company Deutsche Post DHL Group (DPSGY.PK) Thursday reported a surge in its net profit for the second quarter, with 22 percent growth in revenue, with all five divisions benefitting from a very strong demand for logistics services.

The Group's net profit after non-controlling interests more than doubled to 1.3 billion euros from 525 million euros, and basic earnings per share thus jumped to 1.05 euros from 0.43 euro a year ago.

Operating profit for the quarter increased to 2.1 billion euros from 912 million euros on optimal network utilization, and EBIT margin almost doubled to 10.7 percent from 5.7 percent last year.

The Group revenue for the second quarter was up 22.2 percent to 19.5 billion euros, while it rose 24.6 percent on an organic basis. The growth in revenue was also attributed to rising global business activities and steadily growing e-commerce. The Group said its shipment volumes reached a new record level during the quarter.

Looking ahead, Deutsche Post confirmed its short- and mid-term earnings guidance. For 2021, it continues to expect earnings of more than 7.0 billion euros, including a pandemic bonus to be paid to about 550,000 employees in the fourth quarter, with a total volume of about 200 million euros.

Also, the Group's mid-term earnings forecast for 2023 remains unchanged at more than 7.4 billion euros, reflecting the expectation of unchanged high shipment volumes and further improved efficiency.

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