PRELIMINARY
Q3 2021 EARNINGS RELEASE
Deutsche Post DHL Group Investor Relations
October 7th, 2021
Q3 2021: Preliminary Divisional EBIT and main drivers
EBIT in €m | Q3 2020 | Q3 2021 | yoy | yoy in % | Management comments |
EBIT | Prelim. EBIT | ||||
Group | 1,377 | ~1,765 | ~+388 | ~+28% | Continued strong development in line with base assumptions: broad-based |
B2B recovery; B2C maintaining high previous-year levels | |||||
t/o DHL Express | 753 | ~970 | ~+217 | ~+29% | Unchanged high network utilization driven by weight growth; higher portion |
of B2B shipments as B2C volumes plateau on high level, as expected | |||||
t/o DGFF | 155 | ~370 | ~+215 | ~+139% | Sustained volume recovery against still constrained/disrupted capacity. |
Strong conversion reflects higher rates but also ramp-up of efficiency gains | |||||
t/o DSC | 112 | ~140 | ~+28 | ~+25% | E-commerce and B2B activities drive continued business growth, reflecting |
digitalization of customer supply chains | |||||
t/o DeCS | 76 | ~90 | ~+14 | ~+18% | Despite strong 2020 base, revenue holding above last year's level, reflecting |
acceleration of structural B2C trend | |||||
t/o P&P Germany | 320 | ~300 | ~-20 | ~-6% | Parcel growth normalizing as expected. Q3 parcel volumes still above high |
2020 levels, mail supported by elections, balanced by planned cost phasing | |||||
t/o Group Functions | (39) | (105) | ~-66 | ~-169% | Development in line with €-400mfull-year expectation |
Q3 2021 Preliminary Free Cash Flow: >€1.0bn (Q3 2020: €1.264bn); 9M FCF >3.1bn (9M 2020: €1.460bn)
Note: Q3 21 EBIT includes Covid bonus €179m (Q3 20: €163m), o.w. EXP €38m (€33m), DGFF €14m (€13m), DSC €56m (€52m), DeCS €12m (€10m), P&P €54m (€51m)
Q3 2021 PRELIMINARY RESULTS | DEUTSCHE POST DHL GROUP | 7 OCTOBER 2021 | 2 |
Driven by the strong performance in DHL, guidance to be revised upwards with regular Q3 reporting (Nov 4th)
in € bn
EBIT | 2021 Guidance | |
Group | >7.0 | TO BE REVISED |
DHL | 5.7-5.8 | TO BE REVISED |
P&P Germany | 1.7-1.8 | |
Group Functions | ~-0.4 | |
Free Cash Flow | >3.2 | TO BE REVISED |
Gross Capex |
(excl. leases) | ~3.9 |
Mid-term Guidance
2023 Group EBIT>7.4 TO BE REVISED
Free Cash Flow | ~9 | TO BE REVISED |
2021-2023 cumulative | ||
Gross Capex (excl. leases) | ~11 |
2021-2023 cumulative | |
Tax Rate | ~28% |
Note:
-
2021 guidance includes extraordinary effect of one-time corona bonus (Q3 21: €-179m)
Base assumptions: - B2C growth normalizing in the course of 2021
- Continued and gradual B2B recovery globally
Q3 2021 PRELIMINARY RESULTS | DEUTSCHE POST DHL GROUP | 7 OCTOBER 2021 | 3 |
Disclaimer
This presentation contains certain statements that are neither reported results nor other historical information. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond Deutsche Post AG's ability to control or estimate precisely, such as future market and economic conditions, the behavior of other market participants, the ability to successfully integrate acquired businesses and achieve anticipated synergies and the actions of government regulators. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this presentation. Deutsche Post AG does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of this presentation.
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This document represents the Company's judgment as of date of this presentation.
Q3 2021 PRELIMINARY RESULTS | DEUTSCHE POST DHL GROUP | 7 OCTOBER 2021 | 4 |
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Deutsche Post AG published this content on 07 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 October 2021 07:41:01 UTC.