DP DHL Group Raises 2022 Guidance on Back of Rising e-Commerce Volumes
Deutsche Post DHL Group, the world’s leading logistics company, has released preliminary results for the third quarter of 2022. The Group’s EBIT reached around $2 billion in the third quarter 2022 (Q3 2021: $1.7 billion).
Thus, Group EBIT for the first nine months of this year reached around $6.32 billion (9M 2021: $5.6 billion). Therefore, 2022 EBIT guidance (currently: $7.8 billion +/-5%) will be revised upwards with the formal release of full third quarter 2022 earnings on November 8, 2022.
e-Commerce driven shipment volumes coming closer to strongly elevated levels delivered last year
The Group has recorded a good business development in the third quarter of this year. As expected, year-on-year comparison of e-commerce driven B2C shipment volumes improved in the third quarter of 2022, after volumes recorded a more pronounced decline in the first half of 2022.
Against the backdrop of overall macroeconomic uncertainties, transport volumes in the B2B business reflected a softer demand. Consequently, the capacity situation in Ocean and Air Freight markets has eased.
Overall network activities in all DHL divisions maintained good utilization levels leading to an improved EBIT.
Express: EBIT in the Express division reached around $983 million in the third quarter of 2022 compared to previous year's quarter of $945 million.
Global Forwarding, Freight: EBIT in Global Forwarding, Freight stood at around $570 million in the third quarter of 2022, once more clearly ahead of previous year's quarter of $362 million.
Supply Chain: EBIT at Supply Chain came in at around $214 million in Q3 2022, also well above last year's quarter result which stood at $138 million.
eCommerce Solutions: e-Commerce Solutions recorded EBIT of around $83 million in the third quarter 2022 (Q3 2021: $88 million).
Post & Parcel Germany: EBIT in Post & Parcel Germany in the third quarter 2022 was around $277 million (Q3 2021: $292 million).
The continued positive earnings development was successfully converted into a growing free cash flow. Free cash flow in the third quarter 2022 amounted to more than $1.45 billion (Q3 2021: $1.23 billion).
The comprehensive disclosure for third quarter 2022 will be published as planned on November 8, 2022.