DP DHL’s profits expected to continue to surge
07 / 10 / 2021
By Damian Brett
Deutsche Post (DP) DHL’s third quarter preliminary results show another boost in earnings before interest and tax (ebit).
The express and postal giant said that its ebit is expected to reach €1.8bn in the third quarter, up from €1.4bn for the same period in 2020.
Over the first nine months of the year ebit is expected to be €5.8bn compared with €2.9bn for the same period last year.
The company said that all DHL divisions “significantly exceeded” the previous year’s results.
“Volume trends in the past quarter confirm base assumptions with continued well supported B2B recovery and B2C volumes staying at high previous year levels across all major networks,” DP DHL said. “At the same time the tight capacity situation both in ocean and airfreight markets continued.”
Frank Appel, chief executive of Deutsche Post DHL Group, said: “In the first nine months of the current year, we have already exceeded previous year’s full-year result. Global trade accelerated significantly compared to the previous year.
“At the same time, shipment volumes in e-commerce remained high. Therefore we are optimistic for the oncoming peak season.
“We are now intensively preparing ourselves for potential record breaking shipment volumes in the coming weeks and have deliberately built up capacity in the third quarter, in order to be able to offer our customers continued high quality service.”
The company said that as a result of the increase it will revise its ebit and free cash flow outlook for 2021.