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Deutsche Post: Parcel boom ensures significant profit growth

2021-04-09T17:43:49.284Z

Deutsche Post almost tripled its pre-tax profit in the first three months of the year. 2021 will begin "more dynamically than ever before," enthuses CEO Appel.



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Parcel center staff: business is in full swing

Photo: Bernd Wüstneck / dpa

While many companies in Germany are suffering from the consequences of the shutdown, business at Deutsche Post continues to boom.

After the record year 2020 and a strong first quarter, the group is now even more optimistic for the year as a whole: In terms of earnings before interest and taxes (EBIT), the group now expects "well" over 5.6 billion euros for 2021, as the company announced.

So far, the pre-tax profit should only be "above" the value.

According to the announcement, the share jumped around two percent to a record high.

In the first quarter of 2021, the logistics group was able to more than triple its EBIT to around 1.9 billion euros year-on-year, as the company announced, citing preliminary figures.

A year earlier - in the quarter in which the corona pandemic escalated and disrupted world trade - it was 592 million euros.

The free cash inflow was around one billion euros, a year earlier it was minus 409 million euros, so money flowed out of the group.

CEO Frank Appel said: "The start of the new financial year has never been more dynamic." The group sees continued dynamism in e-commerce - that is, a further high number of parcel deliveries through online retailing - and a significant stabilization in world trade with increasing Air and sea freight volumes.

As a result, all corporate divisions achieved a significant leap in earnings above market expectations.

"World trade continues to recover and vaccine distribution is in full swing, which makes me very optimistic for the rest of the year and beyond," said Appel.

mic / dpa

Source: spiegel

All business articles on 2021-04-09

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