German supply chain management company, Deutsche Post DHL Group, has released preliminary results for the third quarter of 2022.
The Group’s EBIT reached around €2.04 billion in the third quarter of 2022, compared to €1.72 billion the year prior.
Thus, Group EBIT rose by 15 per cent for the first nine months of this year to around €6.5 billion, compared to €5.77 billion in Q3 2021.
The Group has recorded a good business development in the third quarter of this year. As expected, year-on-year (YOY) comparison of e-commerce driven B2C shipment volumes improved in the third quarter, after volumes recorded a more pronounced decline in the first half of 2022.
Deutsche Post DHL Group CEO, Frank Appel, said the company’s performance has demonstrated its ability to succeed through the global environment.
“The breadth of our well diversified logistics services provides us with resilience to successfully cope with a fast changing economic environment,” he said.
Overall network activities in all DHL divisions maintained good utilisation levels, leading to an improved EBIT.
EBIT in the Global Forwarding, Freight division stood at around €585 million in Q3, clearly ahead of the previous year’s quarter of €373 million.
EBIT in the Express division reached over €1 billion compared to €971 million of 2021’s Q3.
eCommerce Solutions recorded EBIT of around €85 million in the third quarter, and EBIT in Post & Parcel Germany was around €285 million, compared to €91 million and €300 million respectively.
As a result, the continued positive earnings development was successfully converted into a growing free cash flow.
Free cash flow in the third quarter 2022 amounted to more than €1.5 billion, above last year’s third quarter figure of €1.26 billion.