Deutsche Post DHL will raise its outlook for operating profits after consumer e-commerce demand picked up in the third quarter of the year.
The express and postal giant said that third-quarter earnings before interest and tax (ebit) is expected to reach €2bn compared with €1.8bn last year.
"Therefore, 2022 ebit guidance (currently: €8bn +/-5%) will be revised upwards with the formal release of full third quarter 2022 earnings on November 8," the company said.
"As expected, year-on-year comparison of e-commerce driven B2C shipment volumes improved in the third quarter of 2022, after volumes recorded a more pronounced decline in the first half of 2022.
"Against the backdrop of overall macroeconomic uncertainties, transport volumes in the B2B business reflected a softer demand.
"Consequently, the capacity situation in ocean and airfreight markets has eased. Overall network activities in all DHL divisions maintained good utilisation levels leading to an improved ebit."
The company said that ebit in the express division reached around €1bn in the third quarter of 2022, compared with the previous year's €971m.
Ebit in Global Forwarding, Freight business stood at around €585m in the third quarter of 2022, ahead of the previous year's €372m.
Ebit at Supply Chain came in at around €220m in the third quarter of 2022, also well above last year's quarter result which stood at €142m.
E-Commerce Solutions recorded EBIT of around €85m in the third quarter 2022, against €91m last year.
Finally, Post & Parcel Germany registered third-quarter 2022 ebit of €285m, against €300m for the period in 2021.
Deutsche Post DHL Group achieved overall record ebit of €2.3bn in the second quarter of 2022.
