Deutsche Post DHL in double digit profit growth

Deutsche Post DHL has released preliminary earnings data for the first quarter of 2021, raising its projected profits for the financial year.

For the first three months of 2021, operating profit grew to €1.9 billion, more than double Q1, 2020’s €592 million.

All of Deutsche Post DHL’s divisions saw growth. Highlights include DHL Express almost tripling profits to €955 million by comparison to Q1, 2020, while Global Forwarding also saw strong growth to €215 million operating profit.

Frank Appel, CEO of Deutsche Post DHL Group said: “The start to the new financial year was more dynamic than ever. It proves that we have successfully geared our business to the right growth drivers. One year into the pandemic we experienced in the first quarter 2021 a sustained momentum in e-commerce and a significant stabilization in global trade with increasing air- and sea-freight volumes. Consequently all divisions reported a significant jump in earnings above market expectations. Global trade continues to recover and vaccine distribution is in full swing which makes me very optimistic for the rest of 2021 and beyond.”

The logistics giant projects EBIT operating profit to be significantly above €5.6 billion at the end of the financial year.

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