Comment / On the wires: DHL Global Forwarding shows all its beauty – yet 2020 is pivotal

Update

By Alessandro Pasetti

03/03/2020

“Weakening trade volumes on China in- and out-bound lanes had a negative ebit impact of €60m-€70m, c.16% of ebit in February. Management indicated trade volumes are now slowly recovering, but that the full impact can not yet be quantified. We have lowered FY20e underlying ebit by 4% to €4.7bn, vs. €5.0bn target, assuming slower mid-single digit DHL growth & P&P recovery on track, and cut reported ebit by 11% to €4.3bn, after a charge for the refocusing of StreetScooter.”

– Jefferies, ...

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Topics

Deutsche Post-DHL DHL Global Forwarding DP-DHL On the wires AP Moller - Maersk Break-up integrated logistics Vertical consolidation

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