Deutsche Post Raises Guidance Despite Flagging Economic Challenges

By Ed Frankl

Deutsche Post AG on Tuesday raised its full-year guidance after its operating profit jumped on year, as it weathered economic uncertainty while e-commerce trends gather pace.

The German logistics group, which owns the international shipping company DHL, said it would raise its 2022 guidance for earnings before interest and taxes to around 8.4 billion euros ($8.42 billion), from EUR8.0 billion, plus or minus 5%, under previous guidance.

It came after EBIT for the year to the end of September rose to EUR6.5 billion from EUR5.9 billion in the same period of 2021, the Bonn-based company said.

Meanwhile, net profit in the third quarter was EUR1.23 billion, up from EUR1.09 billion, while revenue rose 20% to EUR24.04 billion, driven by its international B2B business.

Both figures beat expectations of EUR1.17 billion for net profit and revenue of EUR22.29 billion, according to analysts' estimates provided by the company.

However, the company warned of global growth that is losing momentum and of a weakening macroeconomic environment.

"Looking ahead to the final quarter, Deutsche Post is well positioned despite continuing global economic uncertainties," the company said.

Write to Ed Frankl at [e-mail]

(END) Dow Jones Newswires

November 08, 2022 01:37 ET (06:37 GMT)

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