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Thursday, 14/10/2021, 22:09 (GMT +7)
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DHL's profits expected to continue growing
Preliminary results for the third quarter of Deutsche Post (DP) DHL show further gains in earnings before interest and tax (EBIT).
DHL Express (Photo: DHL)
Postal and courier giant DHL said its EBIT is expected to hit 1.8 billion euros in the third quarter, up from 1.4 billion euros in the same period in 2020.
In the first nine months of the year, EBIT is expected to reach 5.8 billion euros compared to 2.9 billion euros in the same period last year.
The company said all of DHL's divisions saw "significantly exceeded" compared to the previous year's results.
“Volume trends in the past quarter confirm base assumptions with continued well supported B2B recovery and B2C volumes staying at high previous year levels across all major networks,” said DP DHL. “At the same time the tight capacity situation both in ocean and airfreight markets continued.”
Frank Appel, managing director of Deutsche Post DHL Group, said: “In the first nine months of the current year, we have already exceeded previous year’s full-year result. Global trade accelerated significantly compared to the previous year."
“At the same time, shipment volumes in e-commerce remained high. Therefore we are optimistic for the oncoming peak season."
“We are now intensively preparing ourselves for potential record breaking shipment volumes in the coming weeks and have deliberately built up capacity in the third quarter, in order to be able to offer our customers continued high quality service."
The company said that due to this increase, it will revise its EBIT and free cash flow outlook for 2021.
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Source: Phaata.com (According to Aircargonews)
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