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Deutsche Post DHL Group has released its Q1 2023 results, describing its start to the new fiscal year as “robust”.
The Group achieved revenue of EUR 20.9 billion in the first quarter (Q1 2022: EUR 22.6 billion). At EUR 1.6 billion, operating profit (EBIT) was 24.1 percent lower than in the prior-year quarter. The Group-wide EBIT margin was
7.8 percent (Q1 2022: 9.6 percent).
In its press release, the company stressed that these results were achieved amid a “challenging market environment”.
Commenting on the figures, Tobias Meyer, CEO designate of Deutsche Post DHL Group, said:
“Deutsche Post DHL Group continued to develop as planned in the first quarter of 2023. We anticipated the slowdown in global growth momentum at an early stage and were able to respond efficiently. Our measures are taking effect and we have achieved a continued high revenue and earnings level. This was made possible by our consistent earnings and cost management, our well-balanced portfolio of logistics services and our international footprint. We once again demonstrated the strong resilience of our business model and therefore fully confirm our forecast.”
As regards the group’s Post & Parcel Germany division, its result fell short of the prior-year figure by 1.1 percent to EUR 4.2 billion, although the reporting period contained one more working day than in the previous year.
The main reason for this, says the group, was lower revenue in the German mail business, which was partly due to the risk of strikes in connection with the collective bargaining negotiations.
At EUR 138 million, EBIT for the division in the first quarter was 61.1 percent lower than in the prior-year quarter. In addition to the decline in sales, higher material costs due to inflation, cost of the collective bargaining agreements as well as above-average personnel costs incurred to avoid the risk of strikes were responsible for this. The EBIT margin was 3.3 percent (Q1 2022: 8.4 percent).