Deutsche Post Raises 2021 Guidance After Strong 1Q
10 April 2021 - 12:56AM
Dow Jones News
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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