Deutsche Post AG sees good third quarter 2021 and will increase forecast

Deutsche Post AG / Keyword (s): Quarterly results / Change in forecast
Deutsche Post AG sees good third quarter 2021 and will increase forecast

07-Oct-2021 / 15:12 CET / CEST
Disclosure of inside information acc. in Article 17 MAR of Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
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Deutsche Post AG sees good third quarter 2021 and will increase forecast

07/10/2021

Disclosure of inside information in accordance with Article 17 MAR

Management today assessed the preliminary results of the group for the month of September and therefore the third quarter of 2021 as well as the outlook for the rest of the year.

The positive development of the group’s activities observed in the first half of the year continued well until the third quarter of 2021. The volume trends in the third quarter confirm the basic assumptions with a strong B2B recovery and B2C volumes which remain at the levels high from the previous year in all major networks. At the same time, the situation of limited capacity in the sea and air freight markets continued. For the third quarter of 2021, the EBIT performance is as follows:

The group’s preliminary EBIT reached around 1.765 billion euros in the third quarter of 2021 (Q3 2020: 1.377 billion euros), bringing EBIT for the first nine months of this year to around 5.760 billion euros. As a reminder, Q3 2020 came including -163 million euros for the unique pandemic bonus; in the third quarter of this year, there is an effect of -179 million euros with a similar distribution between the divisions. The related payment is expected in the fourth quarter.

The divisional results in Q3 in detail:

EBIT of the Express division reached approximately 970 million euros in the third quarter of 2021 compared to the third quarter of the previous year of 753 million euros.

Global Forwarding, Freight’s EBIT was approximately € 370 million in the third quarter of 2021, also significantly higher than the third quarter of the previous year of € 155 million.

Supply chain EBIT was around € 140 million in the third quarter of 2021, significantly higher than last year’s third quarter result of € 112 million.

In addition, eCommerce Solutions recorded EBIT of around 90 million euros in the third quarter of 2021. It stood at 76 million euros in the third quarter of 2020.

Post & Parcel Germany’s EBIT in the third quarter of 2021 was approximately 300 million euros (Q3 2020: 320 million euros).

The Group / Consolidation Functions recorded a result of around -105 million euros in Q3 2021; the third quarter of last year reached -39 million euros, including the positive effects as part of the repositioning of StreetScooter.

The continued positive development of the business is supported by an equally strong continued development of cash flow; free cash flow in the third quarter of 2021 amounted to more than 1.0 billion euros. In the third quarter of 2020, this figure stood at 1.264 billion euros. For the first nine months of 2021, Free Cash Flow now stands at more than 3.1 billion euros compared to 1.460 billion euros last year.

In view of the continued positive earnings momentum also in the third quarter of 2021, management will raise its guidance for the Group’s EBIT and FCF for fiscal year 2021, thanks to the strong development of the DHL divisions. In addition, the medium-term forecast for fiscal year 2023 will be subject to an upward revision.

The revised forecast will be released with the official release of Q3 2021 results on November 4e 2021.

Full disclosure for Q3 of Q9 2021 to be released on November 4e 2021 as planned.

Financial indicators:

Explanations of these financial indicators are available in the 2020 Deutsche Post DHL Group Annual Report (see page 25f) which is published on the company’s website at the link below:

https://www.dpdhl.com/content/dam/dpdhl/en/media-center/investors/documents/annual-reports/DPDHL-2020-Annual-Report.pdf

Contact:
Martin Ziegenbalg
Executive Vice President of Investor Relations
Phone: +49 (0) 228-182-63000

07-Oct-2021 CET / CEST DGAP’s distribution services include regulatory announcements, financial / corporate news and press releases.
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