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Deutsche Post DHL Q3 Profit Rises; Lifts FY EBIT Outlook

German logistics company Deutsche Post DHL Group (DPSGY.PK) reported that its third-quarter net profit rose to 1.09 billion euros or 0.87 euros per share from 851 million euros or 0.67 euros per share last year.

Quarterly revenue increased by 23.5 percent year-on-year to 20.04 billion euros. The dynamic development was driven in particular by the noticeable increase in global trade. This led to a strong demand for logistics services worldwide and a jump in earnings, particularly at the DHL divisions, the company said.

For financial year 2021, the company now expects group EBIT to be more than 7.7 billion euros compared to the prior estimation of more than 7.0 billion euros. This includes a one-time effect of minus 178 million euros for the second Corona special bonus. It will be paid out to around 550,000 employees worldwide in the fourth quarter of 2021.

The company raised 2023 EBIT outlook to more than 8.0 billion euros from the prior outlook of more than 7.4 billion euros. This adjustment is based on the continued high shipment volumes expected in e-commerce, a solid recovery of the global economy and further initiated efficiency enhancements by Strategy 2025, while freight rates are still expected to slowly normalize.

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