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
