Reported Earnings • Aug 04
Second quarter 2024 earnings released: EPS: €0.64 (vs €0.82 in 2Q 2023) Second quarter 2024 results: EPS: €0.64 (down from €0.82 in 2Q 2023). Revenue: €20.6b (up 2.7% from 2Q 2023). Net income: €744.0m (down 24% from 2Q 2023). Profit margin: 3.6% (down from 4.9% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Logistics industry in Europe. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has remained flat, which means it is well ahead of earnings. New Risk • May 09
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 77% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. This is currently the only risk that has been identified for the company. Reported Earnings • May 09
First quarter 2024 earnings released: EPS: €0.63 (vs €0.76 in 1Q 2023) First quarter 2024 results: EPS: €0.63 (down from €0.76 in 1Q 2023). Revenue: €20.9b (down 1.4% from 1Q 2023). Net income: €743.0m (down 18% from 1Q 2023). Profit margin: 3.6% (down from 4.3% in 1Q 2023). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Logistics industry in Europe. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 29
Upcoming dividend of €1.85 per share Eligible shareholders must have bought the stock before 06 May 2024. Payment date: 08 May 2024. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 4.8%. Within top quartile of Swiss dividend payers (4.2%). Higher than average of industry peers (3.2%). お知らせ • Mar 14
DHL Appoints Tay Yi Ning as Head of Asia Pacific Innovation Centre in Singapore DHL appointed Tay Yi Ning as the new Head of Asia Pacific Innovation Centre in Singapore. In her new role, Ning plans to further advance the innovation centre's position to become a reference for futuristic logistics solutions and customer centricity. She also leads a team dedicated to driving innovation-focused customer engagements and fostering open and collaborative discussions among solutions providers and start-ups. Ning comes with nearly 20 years of customer relations expertise at DHL and brings with her a sound understanding of customers' unique logistics challenges and industry insights from across the region. Ning started her career at DHL Group in 2008 in the technology business development team of DHL Global Forwarding. In 2015, she moved to the DHL CSI team as Regional Customer Director for the technology sector and supported highly strategic customers, where she remained until she assumed her latest role. Reported Earnings • Mar 07
Full year 2023 earnings released: EPS: €3.09 (vs €4.41 in FY 2022) Full year 2023 results: EPS: €3.09 (down from €4.41 in FY 2022). Revenue: €84.5b (down 11% from FY 2022). Net income: €3.68b (down 31% from FY 2022). Profit margin: 4.3% (down from 5.7% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 1.2% growth forecast for the Logistics industry in Europe. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 9% per year. New Risk • Nov 12
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 81% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 12
Third quarter 2023 earnings released: EPS: €0.68 (vs €1.02 in 3Q 2022) Third quarter 2023 results: EPS: €0.68 (down from €1.02 in 3Q 2022). Revenue: €19.4b (down 19% from 3Q 2022). Net income: €807.0m (down 34% from 3Q 2022). Profit margin: 4.2% (down from 5.1% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Logistics industry in Europe. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 12% per year. Reported Earnings • Aug 03
Second quarter 2023 earnings released: EPS: €0.82 (vs €1.20 in 2Q 2022) Second quarter 2023 results: EPS: €0.82 (down from €1.20 in 2Q 2022). Revenue: €20.1b (down 16% from 2Q 2022). Net income: €978.0m (down 33% from 2Q 2022). Profit margin: 4.9% (down from 6.1% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, while revenues in the Logistics industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 18% per year. お知らせ • Jul 26
Deutsche Post AG (XTRA:DHL) signed an agreement to acquire Mng Kargo Yurtici ve Yurtdisi Tasimacilik A.S. Deutsche Post AG (XTRA:DHL) signed an agreement to acquire Mng Kargo Yurtici ve Yurtdisi Tasimacilik A.S. on July 25, 2023. The transaction is subject to merger control clearance by the Turkish Competition Authority as well as approval of the Turkish Information and Communications Technologies Authority. お知らせ • May 18
Deutsche Bahn Reportedly Not in Hurry to Start Schenker Sales Process German railway operator Deutsche Bahn AG has still not fixed a date to begin the sales process for its logistics business Schenker AG, which could be valued at up to EUR 15 billion, German paper Handelsblatt reported on May 17, 2023. The railway operator has been evaluating the potential sales since 2022. Deutsche Bahn and Schenker are in the process of gathering all the necessary facts for a possible sales process. Once the facts are collected, all options will be examined, Schenker Chief Executive Officer Jochen Thewes and Deutsche Bahn’s Chief Financial Officer Levin Holle said in a letter to employees seen by Handelsblatt. “We prepare everything with the necessary care and without pressure,” the two executives said in the letter. While Deutsche Bahn is interested in reaching a result quickly, the company must act carefully and take into account the current situation, especially on the financial markets, in order to achieve the best possible outcome. Overall, Schenker will be sold only if the deal is financially advantageous for Deutsche Bank and opens up growth opportunities for Schenker, they added. According to a bidder cited by Handelsblatt, Deutsche Bahn may have missed the right time for the sale as the market environment has now become unfavourable. Reportedly, Schenker has also attracted the interest of rival companies such as Danish DSV A/S (CPSE:DSV) and Deutsche Post AG (XTRA:DPW). Reported Earnings • May 06
First quarter 2023 earnings released: EPS: €0.76 (vs €1.10 in 1Q 2022) First quarter 2023 results: EPS: €0.76 (down from €1.10 in 1Q 2022). Revenue: €20.9b (down 8.3% from 1Q 2022). Net income: €911.0m (down 33% from 1Q 2022). Profit margin: 4.4% (down from 5.9% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, while revenues in the Logistics industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 28
Upcoming dividend of €1.85 per share at 4.3% yield Eligible shareholders must have bought the stock before 05 May 2023. Payment date: 09 May 2023. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 4.3%. Within top quartile of Swiss dividend payers (4.3%). Higher than average of industry peers (2.9%). Reported Earnings • Mar 12
Full year 2022 earnings released: EPS: €4.41 (vs €4.10 in FY 2021) Full year 2022 results: EPS: €4.41 (up from €4.10 in FY 2021). Revenue: €97.4b (up 19% from FY 2021). Net income: €5.36b (up 6.1% from FY 2021). Profit margin: 5.5% (down from 6.2% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 2.7% decline forecast for the Logistics industry in Europe. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. お知らせ • Dec 16
Deutsche Post Reportedly Eyes Takeover of Deutsche Bahn's Schenker Deutsche Post AG (XTRA:DPW) subsidiary DHL is interested in buying Schenker, the logistics subsidiary of German rail operator Deutsche Bahn AG, Manager Magazin reported, citing people familiar with the matter. The report said Schenker could be sold at a price well below 20 billion euros due to a slowdown in the logistics sector. A spokesperson for Deutsche Post would not comment on the report. Deutsche Bahn also declined to comment on the report. お知らせ • Oct 11
Deutsche Post AG Revises Earnings Guidance for the Full Year 2022 Deutsche Post AG revised earnings guidance for the full year 2022. 2022 EBIT guidance (currently: EUR 8.0 billion. +/-5%) will be revised upwards with the formal release of full third quarter of 2022 earnings. Reported Earnings • Aug 07
Second quarter 2022 earnings released: EPS: €1.20 (vs €1.05 in 2Q 2021) Second quarter 2022 results: EPS: €1.20 (up from €1.05 in 2Q 2021). Revenue: €24.0b (up 25% from 2Q 2021). Net income: €1.46b (up 13% from 2Q 2021). Profit margin: 6.1% (down from 6.7% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is expected to shrink by 5.0% compared to a 1.6% growth forecast for the industry in Switzerland. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. お知らせ • Aug 06
Deutsche Post AG Confirms Earnings Guidance for the Year 2022 and 2024 Deutsche Post AG confirmed earnings guidance for the year 2022 and 2024. The Group confirms its 2022 EBIT guidance of EUR 8.0 billion (+ /- 5%) even in consideration of a possible global economic downturn in the second half of 2022. Due to the increasing uncertain global economic development, the Group published scenario-based sensitivities for its 2022 EBIT guidance: If global GDP growth slows in the second half of the year, the Group expects EBIT in the upper half of its guidance (between EUR 8.0 billion and EUR 8.4 billion) - Even assuming a sharp slowdown of the global economy in the second half of 2022, the Group expects EBIT in the lower half of its guidance (between EUR 7.6 and 8.0 billion) - With unchanged business momentum, the Group even considers an EBIT of more than EUR 8.4 billion being achievable.The Group also confirms its mid-term EBIT guidance of around EUR 8.5 billion for 2024. Reported Earnings • May 06
First quarter 2022 earnings released: EPS: €1.10 (vs €0.96 in 1Q 2021) First quarter 2022 results: EPS: €1.10 (up from €0.96 in 1Q 2021). Revenue: €22.6b (up 19% from 1Q 2021). Net income: €1.35b (up 14% from 1Q 2021). Profit margin: 6.0% (down from 6.2% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to stay flat compared to a 1.6% growth forecast for the industry in Switzerland. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 02
Upcoming dividend of €1.80 per share Eligible shareholders must have bought the stock before 09 May 2022. Payment date: 11 May 2022. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 4.4%. Within top quartile of Swiss dividend payers (3.8%). Higher than average of industry peers (3.1%). Reported Earnings • Mar 11
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: €4.10 (up from €2.41 in FY 2020). Revenue: €82.2b (up 23% from FY 2020). Net income: €5.05b (up 70% from FY 2020). Profit margin: 6.2% (up from 4.4% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.5%. Over the next year, revenue is forecast to grow 1.7%, compared to a 6.1% growth forecast for the industry in Switzerland. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 08
Third quarter 2021 earnings released: EPS €0.88 (vs €0.69 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €20.0b (up 23% from 3Q 2020). Net income: €1.09b (up 28% from 3Q 2020). Profit margin: 5.4% (up from 5.2% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 29% per year whereas the company’s share price has increased by 25% per year. Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS €1.05 (vs €0.43 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €19.5b (up 23% from 2Q 2020). Net income: €1.29b (up 146% from 2Q 2020). Profit margin: 6.6% (up from 3.3% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 21% per year and the company’s share price has also increased by 21% per year. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment improved over the past week After last week's 28% share price gain to €63.24, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 17x in the Logistics industry in Europe. Total returns to shareholders of 103% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CHF91.37 per share. Reported Earnings • May 08
First quarter 2021 earnings released: EPS €0.96 (vs €0.24 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €19.3b (up 23% from 1Q 2020). Net income: €1.19b (up 295% from 1Q 2020). Profit margin: 6.2% (up from 1.9% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 7% per year. Upcoming Dividend • Apr 30
Upcoming dividend of €1.35 per share Eligible shareholders must have bought the stock before 07 May 2021. Payment date: 11 May 2021. Trailing yield: 2.8%. Lower than top quartile of Swiss dividend payers (3.6%). Higher than average of industry peers (1.9%). お知らせ • Apr 11
Deutsche Post Ag Revises Earnings Guidance for the Full Year of 2021 Deutsche Post AG revised earnings guidance for the full year of 2021. For the year, the company now expects a Group EBIT to be 'significantly above' EUR 5.6 billion . Reported Earnings • Mar 10
Full year 2020 earnings released: EPS €2.41 (vs €2.13 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: €68.9b (up 8.4% from FY 2019). Net income: €2.98b (up 14% from FY 2019). Profit margin: 4.3% (up from 4.1% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 5% per year. Analyst Estimate Surprise Post Earnings • Mar 10
Revenue beats expectations Revenue exceeded analyst estimates by 0.3%. Over the next year, revenue is forecast to stay flat compared to a 5.8% growth forecast for the Logistics industry in Switzerland. Analyst Estimate Surprise Post Earnings • Nov 11
Revenue misses expectations Revenue missed analyst estimates by 1.0%. Over the next year, revenue is forecast to grow 1.3%, compared to a 2.3% growth forecast for the Logistics industry in Switzerland. Reported Earnings • Nov 11
Third quarter 2020 earnings released: EPS €0.69 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: €16.8b (up 7.8% from 3Q 2019). Net income: €851.0m (up 52% from 3Q 2019). Profit margin: 5.1% (up from 3.6% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 1% per year. お知らせ • Oct 08
Deutsche Post AG Revises Earnings Guidance for the Full Year of 2020 Deutsche Post AG revised earnings guidance for the full year of 2020. Based on preliminary group results for the month of September and hence third quarter of 2020, management has assessed the outlook for the remainder of the year. The overall positive development of the group's businesses going out of second quarter of 2020 has continued well through the third quarter. The reported group-EBIT is expected between EUR 4.1 billion to EUR 4.4 billion compared to EUR 3.5 billion to EUR 3.8 billion previous guidance for the same period. Is New 90 Day High Low • Oct 07
New 90-day high: CHF45.00 The company is up 18% from its price of CHF38.03 on 08 July 2020. The Swiss market is up 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Logistics industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CHF50.06 per share.