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Apr 11, 2021 at 4:43 PMThe Deutsche Post DHL Group is clearly one of the winners of the Corona pandemic. This is now also reflected in the first quarter of 2021. The group’s EBIT tripled to around 1.9 billion euros. The positive business development from the fourth quarter of 2020 continued into the first quarter of 2021.
(Bonn) Deutsche Post DHL Group today published preliminary results for the first quarter of 2021 and raised its outlook for the current fiscal year. The preliminary operating result (EBIT) for the first three months improved to around 1.9 billion euros (Q1 2020: 592 million euros). The positive business development from the fourth quarter of 2020 continued into the first quarter of 2021. In the first three months of the year, B2C shipment volumes across the entire network remained consistently high, while recovery in the B2B business continued.
“The start of the new fiscal year has been more dynamic than ever. This shows that we have successfully aligned our business with the right growth drivers. A year after the onset of the pandemic, we see sustained momentum in e-commerce and a significant stabilization in global trade with increasing air and sea freight volumes in the first quarter. All divisions were able to achieve a significant results jump above market expectations. Global trade continues to recover, and the distribution of vaccines is running at full speed, which makes me very optimistic for the rest of the year and beyond,” said Frank Appel, CEO of Deutsche Post DHL Group.
All Divisions Optimally Positioned
Express:
The division achieved an EBIT of around 955 million euros in the first quarter of 2021 compared to 393 million euros in the same quarter of the previous year.
Global Forwarding, Freight:
The EBIT in Global Forwarding, Freight amounted to around 215 million euros in the first quarter of 2021, significantly above the previous year’s result of 73 million euros.
Supply Chain:
The EBIT in Supply Chain reached around 165 million euros in the first quarter of 2021 compared to 105 million euros in the same quarter of the previous year.
eCommerce Solutions:
eCommerce Solutions achieved an EBIT of around 115 million euros in the first quarter of 2021, significantly above the EBIT of 6 million euros in the same quarter of the previous year.
Post & Paket Deutschland:
The EBIT in Post & Paket Deutschland amounted to around 555 million euros in the first quarter of 2021 (Q1 2020: 334 million euros).
2021 Forecast Adjusted Upwards
The continued positive business development is underscored by a strong cash flow performance; the free cash flow amounted to around 1.0 billion euros in the first quarter of 2021. In the same quarter of the previous year, this was still in the negative range at -409 million euros.
In light of the strong results momentum, the group is adjusting its forecast for 2021 upwards. The group EBIT for 2021 is now expected to be significantly above 5.6 billion euros (previously: more than 5.6 billion euros). Similarly, the EBIT of the DHL divisions is seen significantly above 4.5 billion euros (previously: more than 4.5 billion euros). The outlook for the EBIT of Post & Paket Deutschland is raised from around 1.6 billion euros to over 1.6 billion euros. The expectation for the EBIT of Group Functions remains unchanged at -0.4 billion euros. The company now forecasts a free cash flow of significantly over 2.3 billion euros for 2021 (previously: around 2.3 billion euros).
The group will announce a new detailed outlook with the full reporting for the first quarter of 2021. This is scheduled to be published on May 5, 2021.
Photo: © Loginfo24 / Image Caption: Headquarters of Deutsche Post DHL Group
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