Duyuru • 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. Buying Opportunity • Jun 23
Now 22% undervalued Over the last 90 days, the stock is up 3.8%. The fair value is estimated to be €55.28, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 29%. For the next 3 years, revenue is forecast to grow by 1.2% per annum. Earnings is also forecast to grow by 1.4% per annum over the same time period. Duyuru • 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 05
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 19% 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%. Lower than top quartile of British dividend payers (5.8%). 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 2.3% 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 24% per year, which means it is significantly lagging earnings growth. 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 the United Kingdom. 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 14% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 07
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, in line with the revenue forecast for the industry in the United Kingdom. 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 11% 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%. Lower than top quartile of British dividend payers (4.6%). 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 1.6%, compared to a 5.6% growth forecast for the industry in the United Kingdom. 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 13% per year, which means it is significantly lagging earnings growth. Duyuru • Jan 14
A management team of Deutsche Post AG (XTRA:DPW) agreed to acquire Greenplan GmbH from Deutsche Post AG (XTRA:DPW). A management team of Deutsche Post AG (XTRA:DPW) agreed to acquire Greenplan GmbH from Deutsche Post AG (XTRA:DPW) on January 12, 2022. Dr. Clemens Beckmann, CEO of Greenplan, has led the acquisition together with Florian Merget, former Head of Strategy and Business Development at Greenplan and now Co-owner with a 25% share and Managing Director of Greenplan GmbH. 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 whereas the company’s share price has increased by 23% per year. 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 14% 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 British dividend payers (4.1%). Higher than average of industry peers (1.9%). 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 but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. 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 the United Kingdom. Is New 90 Day High Low • Mar 09
New 90-day high: €44.83 The company is up 14% from its price of €39.35 on 09 December 2020. The British market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Logistics industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €32.65 per share. Is New 90 Day High Low • Jan 13
New 90-day high: €41.79 The company is up 3.0% from its price of €40.63 on 15 October 2020. The British market is up 15% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Logistics industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €31.66 per share.