German package delivery and supply chain company, Deutsche Post DHL Group, has followed up on its record 2020 results.
The company continued to grow dynamically in Q1 2021. It increased revenue significantly by 22 per cent to €18.9 billion.
Operating profit more than tripled to €1.9 billion making it the strongest opening quarter ever.
All five divisions were able to increase EBIT while the group slightly exceeded the preliminary quarterly figures published in April.
With its broad portfolio of logistics services, Deutsche Post DHL Group benefitted from the continued strong momentum in global e-commerce and the simultaneous recovery in world trade. Against the backdrop of the good earnings performance, Deutsche Post DHL Group has raised its short- and medium-term targets: For 2021, the Group expects EBIT of more than €6.7 billion and free cash flow of more than €3.0 billion. For 2023, the company forecasts EBIT of more than €7.0 billion.
“We had the best opening quarter ever and were able to unleash our full strength as a Group,” said Deutsche Post DHL Group CEO, Frank Appel.
“All five of our divisions are on track for growth and are ideally positioned to benefit from the continuing boom in e-commerce and the resurgence in global trade.
“Our 570,000 employees are operating our networks more efficiently than ever before. This makes me optimistic about the future.”
Deutsche Post DHL Group is home to two strong brands: Deutsche Post is Europe’s leading postal service. DHL offers a comprehensive range of international express, freight transport, and supply chain management services as well as e-commerce logistics solutions. Deutsche Post DHL Group employs approximately 570,000 people in over 220 countries and territories worldwide. The group generated revenues of more than €66 billion in 2020.