Sunday, October 11, 2020

Freight: Deutsche Post-DHL Sees Q3 Profits Up 43%

Sticking with Germany and following on the post immediately below, "Shipping: Germany's Hapag-Lloyd Sees Demand Recovering".

From The LoadStar:

Deutsche Post-DHL yesterday released its third-quarter preliminary results that showed profits were likely to be around 43% ahead of previous guidance. 

Group ebit grew by 45%, compared with the 2% growth DP-DHL originally forecast, to €1.37bn ($1.6bn), compared with €942m the previous Q3, largely driven by a stellar performance in its Express division. 

Express increased its ebit by 60.5% in the quarter to reach €750m, compared with last year’s €454m, driven by a strong development in TDI (time-definite international) volumes.  

DHL Global Forwarding posted an ebit of €155m, after €124m last year, while DHL eCommerce Solutions saw a further acceleration of ebit driven by strong B2C volumes in its markets”, and recorded an ebit of around 75m, compared with last year’s €6m. 

Operating profit in Post & Parcel Germany rose to around 320m, slightly above last year’s €304m, while its Supply Chain division posted a €110m ebit, down from last year’s 162m.  The P&P increase came despite one-off costs of €170m related to a coronavirus bonus to staff, as well as a new pay deal for postal employees. ...MORE