Deutsche Post Raises Guidance After Increased 3Q Earnings
October 07 2021 - 10:09AM
Dow Jones News
By Ed Frankl
Deutsche Post AG said Thursday that it raised its full-year
guidance off the back a strong performance in the third
quarter.
Earnings before interest and taxes in the three months to the
end of September reached around 1.77 billion euros ($2.05 billion),
compared with EUR1.38 billion in the same period of last year, the
postage and logistics company said.
In the first nine months of 2021, EBIT came to around EUR5.76
billion, it said.
The Bonn, Germany-based company said that the positive
development of the group's businesses--including the tight capacity
market both in ocean and air-freight markets--in the first half of
the year continued through the third quarter.
Deutsche Post also raised its guidance for fiscal 2021 for EBIT
and free cash flow, driven by the strong development in its DHL
division.
It previously said it saw 2021 EBIT at more than EUR7
billion.
For the year to date, free cashflow stands at EUR3.1 billion
against EUR1.46 billion last year, the company said. However, FCF
in the third quarter was more than EUR 1.0 billion, below a figure
of EUR1.26 billion at the same point last year.
The company's midterm guidance for 2023 will be subject to
upward revision, it added. Previous guidance for 2023 was more than
EUR7.4 billion.
The full details of revised forecasts will be published at its
earnings release on Nov. 4, Deutsche Post said.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
October 07, 2021 09:54 ET (13:54 GMT)
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