FRANKFURT: Deutsche Post said on Tuesday it expects operating profits to rise in 2021 and 2022 after a jump by 56% in the fourth quarter as the coronavirus pandemic prompted a surge in ecommerce and parcel shipments.
Deutsche Post DHL, one of the world’s biggest post and freight companies, said it expected operating profit for 2021 to exceed the 2020 figure of 5.4 billion euros ($6.57 billion), excluding one-offs, with a further rise in 2022.
It said it would publish detailed guidance on March 9.
“The overall positive business development is underpinned by an ongoing strong development of cash flow,” it said.
Deutsche Post revised its outlook for aggregate free cash flow for the period 2020 to 2022 to more than 6 billion euros ($7.29 billion), from a previous 5 billion to 6 billion range.
It also said it now expects total capital expenditure for the period of around 9.5 billion euros, up from a 8.5-9.5 billion range, including the effect of an order for eight Boeing 777 cargo aircraft it announced earlier on Tuesday.
($1 = 0.8225 euros)
($1 = 0.8224 euros)
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