Freight division flourishes
Deutsche Post raises annual targets after all
10/10/2022 3:36 p.m
By the half-year, Swiss Post was already exceeding the forecasts, but is refraining from raising the annual targets. After nine months, the group sets new goals. He only wants to be specific in a few weeks. At the same time, the company presents key points for the summer business.
Deutsche Post is defying the general mood of crisis and, after an unexpectedly strong increase in earnings in the third quarter, intends to raise its annual targets. The new outlook is to be published with the quarterly report on November 8, as the Bonn-based company announced. Swiss Post had forecast an operating result (EBIT) of around eight billion euros with a deviation of around five percent up or down.
Thanks in particular to flourishing business in the freight division, the Bonn-based company earned 2.04 (previous year’s period: 1.77) billion euros in the third quarter – more than analysts had expected with an average of 1.93 billion. The freight and storage division more than offset losses in the German parcel business in the quarter. Operationally, it brought in 585 million euros after 372 million in the same quarter of the previous year. In the Post & Parcel Germany division, earnings shrank by EUR 15 million to EUR 285 million after the boom during the Corona crisis. The express business improved its result to 1.01 billion euros from the previous 971 million.
Overall, the group has already achieved an EBIT of 6.5 billion euros after nine months. In August, Deutsche Post stated that if business development remained unchanged for the year as a whole, EBIT of more than 8.4 billion euros would be possible. Risks relating to the development of energy prices, inflation and interest rates currently do not play a major role in earnings development, explained CFO Melanie Kreis. The group passes on higher fuel prices to customers. Gas plays almost no role for the company.
The figures were well received on the stock exchange. By early afternoon, the DAX title had increased its gains by more than five percent.