Deutsche Post AG / Key word(s): Change in Forecast/Annual Results
Ad hoc: Deutsche Post AG upgrades outlook for 2022 after preliminary FY 2020 results
Based on preliminary group results for the month of December and hence the full year 2020, management today has assessed the outlook for the coming years.
The finishing quarter of the year has seen the expected overall strong volume development, particularly driven by B2C volumes. The distribution of volumes across the period and the main trade lanes was well matched by network capacity allowing for high service levels being upheld despite unprecedented total volumes.
For the fourth quarter and hence the full year 2020 the financial performance forms out as follows:
Preliminary group revenue for the year 2020 stands at EUR 66.8 billion (Q4 2020: EUR 19.1 billion), up 5% from 2019 (Q4 2020: +13%)
Preliminary group EBIT reached around EUR 1.960 billion in Q4 2020 (up 56% from Q4 2019), bringing group full year 2020 EBIT to around EUR 4.840 billion. This includes the already communicated negative one-time effects of nearly EUR 600 million of the first 9 months, whereas there is no one-time effects in Q4 20 worth mentioning.
Post & Parcel Germany:
Global Forwarding, Freight:
The overall positive business development is underpinned by an ongoing strong development of cash flow; free cash flow has increased in the fourth quarter to around EUR 1.05 billion, resulting in a free cash flow of around EUR 2.5 billion for the full year of 2020.
In light of this strong performance going out of 2020 management adjusts the mid-term outlook as follows:
The outlook for the aggregate free cash flow for the period 2020 to 2022 is revised to more than EUR 6 billion (previous: EUR 5.0 - 6.0 billion). The total gross capex for the period is now expected to be at around EUR 9.5 billion (previous: EUR 8.5 - 9.5 billion). This includes the effect of the newly ordered eight 777 cargo aircraft as announced today.
The comprehensive disclosure for Q4 and the full year of 2020 will be released on March 9th, 2021 as planned.
12-Jan-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Deutsche Post AG
+49 (0)228 182 - 63 100
+49 (0)228 182 - 63 199
Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; Regulated Unofficial Market in Tradegate Exchange
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