DPSGY Deutsche Post AG (PK)

   By Mauro Orru 
 

Deutsche Post AG has raised its guidance for the year after strong trading momentum in the first quarter, according to preliminary figures released Friday.

The German freight-and-logistics group said first-quarter earnings before interest and taxes should come in at around 1.9 billion euros ($2.26 billion) compared with EUR592 million in the first quarter of 2020.

Free cash flow also showed a strong development in the quarter, reaching around EUR1 billion.

Deutsche Post said it now expects EBIT for the year to be "significantly above" EUR5.6 billion instead of simply "more than" EUR5.6 billion.

Free cash flow for 2021 should be "significantly above" EUR2.3 billion, instead of "around" EUR2.3 billion, Deutsche Post added.

"In light of the strong earnings momentum, management will introduce a revised detailed guidance with the release of the full 1Q 2021 reporting due May 5 2021," Deutsche Post said in a statement.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

April 09, 2021 10:41 ET (14:41 GMT)

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