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Deutsche Post DHL Group Quadruples Net Profit Raises Guidance Again
CEO Frank Appel: "We had the best opening quarter ever"
The world's leading logistics company Deutsche Post DHL Group continued to grow dynamically in the first quarter of 2021. The Group increased its revenue significantly by 22.0 percent to EUR 18.9 billion.
Operating profit (EBIT) more than tripled to EUR 1.9 billion, making it the strongest opening quarter ever. All five divisions were able to significantly increase EBIT.
The Group even slightly exceeded the preliminary quarterly figures published in April. With its broad portfolio of logistics services, Deutsche Post DHL Group benefited from the continued strong momentum in global e-commerce and the simultaneous recovery in world trade.
Against the backdrop of the good earnings performance, Deutsche Post DHL Group has raised its short- and medium-term targets: For 2021, the Group expects EBIT of more than EUR 6.7 billion and free cash flow of more than EUR 3.0 billion.
For 2023, the company forecasts EBIT of more than EUR 7.0 billion.
said Frank Appel, CEO of Deutsche Post DHL Group said: “We had the best opening quarter ever and were able to unleash our full strength as a Group.
"All five of our divisions are on track for growth and are ideally positioned to benefit from the continuing boom in e-commerce and the resurgence in global trade.
"Our 570,000 employees are operating our networks more efficiently than ever before. This makes me optimistic about the future”,
In the first quarter of 2021, all five divisions were able to increase revenue and achieve a positive earnings performance.
The Express, eCommerce Solutions, and Post & Parcel Germany divisions especially benefited from the sustained momentum in e-commerce leading to a sharp rise in shipment volumes in the national and international parcel business.
Thanks to the high utilization of their networks, the divisions achieved a significant jump in earnings.
Global Forwarding, Freight and Supply Chain but also Express benefited particularly strongly from the rapid recovery in world trade and the growing B2B business.