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Deutsche Post: 2nd quarter earnings better than estimates

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Deutsche Post: 2nd quarter earnings better than estimates

Deutsche Post said second-quarter profit rose by beating estimates, and confirmed full-year targets.

The German goods and logistics company pointed out that net profit rose to 1.46 billion euros from 1.29 billion euros a year ago.

Analysts had expected 1.23 billion euros.

Quarterly revenue rose 23% to €24.03 billion, while earnings before interest and taxes rose 12% to €2.34 billion.

Analysts had expected €21.79 billion in revenue and EBIT of €2.01 billion. The increases are attributed to b2b activities at DHL units.

For 2022, Deutsche Post confirmed EBIT estimates at €8bn, plus/minus 5%.

He added, however, that in the event of a sharp slowdown in the global economy in the second half, EBIT would be in the lower half of the target.

“If the momentum remains as it is, the group even considers an EBIT of more than €8.4 billion to be possible,” he added.

Source: Capital

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