"Thanks to the outstanding efforts of our employees we provide our customers with reliable logistics solutions also in volatile times. This strength is reflected in the excellent earnings performance and will continue to pay off in the future," said Frank Appel, CEO of Deutsche Post DHL Group. "Our customers appreciate logistics services more than ever before. Based on our strong international footprint coupled with the most modern infrastructure, we are able to offer reliable solutions in an increasingly complex environment across all sectors. We remain solid as a rock in uncertain times."
EBIT guidance confirmed - also in the event of a global economic slowdown
The Group confirms its 2022 EBIT guidance of EUR 8.0 billion (+ / - 5 percent) even in consideration of a possible global economic downturn in the second half of 2022. With an EBIT of EUR 4.5 billion achieved in H1 2022, the Group has a strong basis for delivering on this. Due to the increasing uncertain global economic development, the Group published scenario-based sensitivities for its 2022 EBIT guidance:
If global GDP growth slows in the second half of the year, the Group expects EBIT in the upper half of its guidance (between EUR 8.0 billion and EUR 8.4 billion)
Even assuming a sharp slowdown of the global economy in the second half of 2022, the Group expects EBIT in the lower half of its guidance (between EUR 7.6 and 8.0 billion)
With unchanged business momentum, the Group even considers an EBIT of more than EUR 8.4 billion being achievable.
The Group also confirms its mid-term EBIT guidance of around EUR 8.5 billion for 2024.
Resilient portfolio pays off - growth drivers remain intact
The Group's well-balanced portfolio unfolded once again its strength in the second quarter 2022. The double-digit growth seen in revenue and EBIT was again driven by the B2B business of the DHL divisions Global Forwarding, Freight, Supply Chain and Express. Global Forwarding, Freight achieved an exceptionally large jump in revenue and EBIT based on a dynamic price and margin development in the air and ocean freight business. Supply Chain was able to increase revenue and EBIT due to elevated warehousing activities. Significant revenue growth was also achieved by Express with temporary lockdowns in China hampering an even better result.
At the same time, the e-commerce driven B2C business of the divisions Express, eCommerce Solutions and Post & Parcel Germany normalized at a structurally higher level. As expected, EBIT of eCommerce Solutions and Post & Parcel Germany came in below the very strong level of the previous year.
Overall, net profit after non-controlling interests increased to EUR 1.5 billion in the second quarter (Q2 2021: EUR 1.3 billion). The improvement in EBIT led to an increase in tax expense, while the financial result improved. Basic earnings per share came in at EUR 1.20, compared with EUR 1.05 in the previous year.
Source: Deutsche Post DHL