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Deutsche Post raises targets after record earnings
Deutsche Post DHL Group recorded record earnings in the past financial year despite the significant challenges faced. The Group confirmed the 2020 preliminary figures in January. Deutsche Post DHL Group increased revenue by 5.5% year-on-year to EUR 66.8 billion in financial year 2020.
“2020 was an exceptionally challenging year for Deutsche Post DHL Group. Our services were in demand more than ever. We not only posted record earnings, but also created 20,000 new jobs worldwide. This success didn’t come from nowhere. It is the result of years of hard work by our entire organization. We focused on our profitable core logistics businesses by consistently aligning our company towards e-commerce and investing in our logistics network and digitalization. This way we are strengthening our profitability and our resilience against global economic turbulence. Deutsche Post DHL Group is thus well positioned to continue growing profitably in the coming years”
– Frank Appel, CEO of Deutsche Post DHL Group
For the financial year 2021, the Group anticipates a further significant increase in EBIT to more than EUR 5.6 billion. This guidance is based on the assumption that e-commerce will continue to grow in the current year from a structurally higher starting point, while growth rates should normalize in the course of the year. World trade is also likely to recover further during 2021, leading to increased volumes in our global logistics activities. At the same time, intercontinental transport capacities are expected to remain limited due to the slow recovery of belly space cargo capacities in passenger aircraft.
In January the group had raised its previously announced medium-term targets for the period through 2022 in light of its positive business performance. EBIT is targeted to increase to more than EUR 6.0 billion in 2023. The Group plans to generate cumulative free cash flow of EUR 7.5 to 8.5 billion between 2021 and 2023.