Deutsche Post DHL Q3 profit up 15% to €2.04 billion

Deutsche Post DHL Group reported a 15 percent increase in EBIT (preliminary) to €2.040 billion ($2.04 billion) in the third quarter of 2022 (Q3 2021: €1.771 billion).

Group EBIT for the first nine months of this year reached around €6.5 billion (9M 2021: €5.765 billion), an increase of 13 percent, according to an official release.

"Therefore, 2022 EBIT guidance (currently: €8.0 billion +/-5 percent) will be revised upwards with the formal release of full third quarter 2022 earnings on November 8, 2022."

CEO Frank Appel says: "The breadth of our well diversified logistics services provides us with resilience to successfully cope with a fast changing economic environment."

Year-on-year comparison of e-commerce driven B2C shipment volumes improved in the third quarter of 2022 after volumes recorded a more pronounced decline in the first half of 2022, the release added. "Against the backdrop of overall macroeconomic uncertainties, transport volumes in the B2B business reflected a softer demand. Consequently, the capacity situation in ocean and air freight markets has eased. Overall network activities in all DHL divisions maintained good utilisation levels leading to an improved EBIT."

The continued positive earnings development was successfully converted into a growing free cash flow in the third quarter of 2022 to more than €1.5 billion (Q3 2021: €1.257 billion).