Deutsche Post Raises 2023 Guidance Despite Q2 Earnings Decline

by Warren Seah

Deutsche Post, the parent company of DHL, has announced an upward revision to its guidance for 2023, even though it reported lower earnings and revenue for the second quarter. The logistics group cited a combination of weaker demand and challenging comparisons with last year’s exceptional results as the primary reasons for the decline.

Resilient Performance in H1 Leads to Revised Outlook

DHL Group now forecasts its earnings before interest and taxes (EBIT) for the full year to be in the range of €6.2 billion to €7.0 billion. This revised outlook reflects what the company describes as a resilient performance in the first half of the year. Previously, Deutsche Post had guided for EBIT to be in the range of €6.0 billion to €7.0 billion, making this an encouraging update.

Q2 Results in Focus

Under the leadership of Chief Executive Tobias Meyer, Deutsche Post reported a decrease in quarterly net profit from €1.46 billion to €978 million. Similarly, revenue for the second quarter dropped from €24.03 billion to €20.09 billion.

The company’s EBIT for Q2 also experienced a decline of 27%, falling to €1.69 billion.

Analyst Expectations vs Reality

Analysts had previously anticipated a quarterly net profit of €1.01 billion, an EBIT of €1.65 billion, and revenue of €21.65 billion, according to consensus estimates provided by Deutsche Post. The actual results fell slightly short of these forecasts.

It is worth noting that this is the first set of results released since Tobias Meyer assumed the role of Chief Executive at Deutsche Post.

Please direct any inquiries to Adria Calatayud

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