07.04.2020 Deutsche Post AG  DE0005552004

DGAP-Adhoc: Deutsche Post AG: Deutsche Post AG withdraws Guidance for 2020


 

DGAP-Ad-hoc: Deutsche Post AG / Key word(s): Forecast/AGM/EGM
Deutsche Post AG: Deutsche Post AG withdraws Guidance for 2020

07-Apr-2020 / 18:21 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Disclosure of inside information pursuant to Article 17 MAR

Deutsche Post AG withdraws Guidance for 2020

Since the initial spreading of the corona virus in February, our focus has been on preserving the safety and health of our employees, maintaining the ability to operate our global businesses and services and thus keep supporting our customers in a challenging environment. Despite local restrictions our global operations have been kept up and running.

The financial results for March - to the degree visible as of today - are expectedly affected by the global measures to contain the spreading of the covid-19 pandemic.

Following the negative deviation versus our internal plan of around €50 million in February we see for the month of March a pandemic-related deviation in the amount of around €150 million.

Whilst in the previous month only the divisions DHL Global Forwarding, Freight and DHL Express were affected, in March all divisions feel the effects of the global spreading of the pandemic, however to a differing extent depending on business model, geographic exposure and customer industries. The developments on a divisional level are as follows:

P&P Germany: With the introduction of the current pandemic-related measures in Germany we see a double-digit-percentage decline in mail volumes and revenue, driven mainly by suspended direct-marketing campaigns of our customers. In contrast we see overall stable, towards the end of the month even increasing parcel volumes; in the first quarter parcel volume growth is within the guided range of 0 - 5 %. With the covid-19 related revenue decline in mail and additional cost to ensure full operations we see for March a negative EBIT deviation from plan by around €40 million. For the first quarter we expect EBIT to be at around €330 million.

Express: The covid-19 effects on the global business and profitability follow the widening of pandemic-related measures. Whilst the Chinese business already significantly recovered in March we see the patterns of the development observed in China in February now materializing in Europe and North America. With the introduction of respective local containment measures we register in both regions initial strong declines in volumes. However, also here running a dedicated aviation fleet proves to be an important factor to enable customers speedy shipping at all. Overall we see for the month of March a covid-19 related deviation from planned EBIT by around €60 million. For the first quarter we expect EBIT to be at around €390 million including a covid-19 related impact of €90 million.

Global Forwarding, Freight: Like for the Express business the regional effects of covid-19 related measures in Europe and North America mirror the observations in China in February. Overall we see significant volume declines with even stronger cuts to available capacity, particularly in Air Freight. With overall uptrending gross profit margins this means for March a covid-19 related negative deviation from plan of around €10 million. For the first quarter we expect EBIT to be at around €70 million including a covid-19 related impact of €30 million.

Supply Chain: We see strong deviations from normal business, both positive and negative, depending on region and customer sector. Whereas activities for customers in Automotive or Retail (Fashion) are significantly reduced, we see equally strong uplifts in Retail (Groceries) and Life Science/Health Care. Global pandemic-related measures in total result, however, in lower revenues and additional cost, which lead to March EBIT being below plan by around €30 million. For the first quarter we expect EBIT to be at around €100 million.

eCommerce Solutions: Pandemic-related effects differ strongly by region, and we experience the strongest impact in Spain and India, driven by strong declines in B2B volumes and additional cost which cannot be compensated by higher B2C volumes. For March we see a covid-19 related negative deviation from plan of around €10 million. For the first quarter we expect EBIT to be close to €10 million.

The accumulated pandemic-related negative EBIT deviation from plan in February and March amounts to €200 million for the group. The reported group EBIT for the first quarter will be at around €590 million. This includes around €230 million of the already flagged cost for re-focussing the StreetScooter activities. Adjusted for covid-19 related effects and the StreetScooter cost group EBIT in the first quarter is about €200 million above the adjusted result of the same period last year (€814 million).

We started with a strong cash flow performance into the year, when taking into consideration seasonal effects, and also in the month of March we have not seen any significant change to cashflow beyond the covid-19 related impact on EBIT.

The comprehensive disclosure for the first quarter 2020 will be released on May 12th as planned.

Explanations on these financial indicators are available in the 2019 Deutsche Post DHL Group Annual Report (see page 15), which is published on the company's website under

https://www.dpdhl.com/en/investors/service/reports.html

While we see an encouraging development in our Chinese business in recent weeks, Europe and North America are still at an earlier stage of the pandemic. Given the strongly dynamic development it is at this stage not realistic to assess how and for how long public life and business will be affected by the corona pandemic, nor in what shape the global economy will be once the pandemic fades.

Given the global spread of the pandemic and the manifestation of negative effects at least for the current business year, a distinction between covid-19 related effects and an adjusted result becomes increasingly difficult and less meaningful. In today's board meeting the management therefore decided to suspend earnings guidance for 2020. As and when a more stable outlook for major economies becomes available and reliable forecasting is possible again, we will communicate new guidance to the market.
We do confirm, however, our guidance for a group EBIT of at least €5.3 billion for 2022. Equally, we uphold our guidance for aggregated Free Cash Flow and Capex 2020 to 2022, which are subject only to pandemic related effects to current year's Free Cash Flow.

 

Management today further decided to push out the date for the regular shareholder meeting, which so far was planned to be held on May 13th, to a later date this year. With that also the resolution of approbation of the balance sheet result for financial year 2019 and the payment of a dividend of €1.25/share will be pushed out to a later date this year.

Due to the covid-19 pandemic a shareholder meeting with physical presence currently cannot be held. We will hold a virtual online-only meeting should the pandemic situation also at a later point in the year not allow for a physical meeting.

As soon as a more reliable planning for a shareholder meeting has become possible again we will announce a new date.




Contact:
Martin Ziegenbalg
EVP Investor Relations
Tel: +49 (0)228-182-63000

07-Apr-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: Deutsche Post AG
Charles-de-Gaulle-Straße 20
53113 Bonn
Germany
Phone: +49 (0)228 182 - 63 100
Fax: +49 (0)228 182 - 63 199
E-mail: [email protected]
Internet: www.dpdhl.com
ISIN: DE0005552004, DE000A2G87D4
WKN: 555200, A2G87D
Indices: DAX
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; Regulated Unofficial Market in Tradegate Exchange
EQS News ID: 1017637

 
End of Announcement DGAP News Service

1017637  07-Apr-2020 CET/CEST

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Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023
Umsatzerlöse1 60.444,00 61.550,00 63.341,00 66.806,00 81.747,00 94.436,00 81.758,00
EBITDA1,2 5.212,00 6.454,00 7.812,00 8.677,00 11.746,00 12.613,00 10.822,00
EBITDA-Marge3 8,62 10,49 12,33 12,99 14,37 13,36
EBIT1,4 3.741,00 3.162,00 4.128,00 4.847,00 7.978,00 8.436,00 6.345,00
EBIT-Marge5 6,19 5,14 6,52 7,26 9,76 8,93 7,76
Jahresüberschuss1 2.853,00 2.224,00 2.776,00 3.176,00 5.423,00 5.717,00 3.935,00
Netto-Marge6 4,72 3,61 4,38 4,75 6,63 6,05 4,81
Cashflow1,7 3.297,00 5.796,00 6.049,00 7.699,00 9.993,00 10.965,00 9.258,00
Ergebnis je Aktie8 2,15 1,66 2,09 2,36 4,01 4,33 3,04
Dividende8 1,15 1,15 1,15 1,35 1,80 1,85 1,05
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2023 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: Deloitte

INVESTOR-INFORMATIONEN
©boersengefluester.de
Deutsche Post
WKN Kurs in € Einschätzung Börsenwert in Mio. €
555200 40,200 Halten 48.240,00
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
10,86 15,18 0,72 15,34
KBV KCV KUV EV/EBITDA
2,38 5,21 0,59 6,45
Dividende '22 in € Dividende '23 in € Div.-Rendite '23
in %
Hauptversammlung
1,85 1,85 4,60 03.05.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
07.05.2024 01.08.2024 05.11.2024 06.03.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
2,95% -1,25% -10,38% -12,38%
    
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