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DHL Group reports significant revenue gains in Q3

Published : 12 Nov 2019, 22:24

  DF-Xinhua Report

File Photo Xinhua.

German multinational mail and logistics company Deutsche Post DHL Group increased its revenues by 4.7 percent to 15.6 billion euros year-on-year in the third quarter (Q3) of 2019, the company announced on Tuesday.

Operating profit (EBIT) between July and September was 942 million euros, according to Deutsche Post DHL.

"We are growing even in uncertain times ... thanks to our broad portfolio and the market-leading position of our divisions," said Chief Executive Officer (CEO) Frank Appel.

Despite the "challenging global economic environment," all five divisions of Deutsche Post DHL grew. The international express business and the German parcel business saw "especially dynamic growth as e-commerce continued to boom," the company said.

For the current financial year, Deutsche Post DHL continues to expect its operating profit to increase by between 4 billion and 4.3 billion euros.

"For the fourth quarter, we anticipate a traditionally strong holiday season and we reaffirm our guidance for the full year 2019," CEO Appel said.

Deutsche Post DHL also confirmed its guidance for 2020 and until 2022, aiming at an EBIT of more than five billion euros for the next fiscal year and a minimum of 5.3 billion euros in 2022.

To achieve the financial targets, the Deutsche Post DHL Group is planning to push growth in its profitable core businesses and speed up the digital transformation.