DPDHL released a strong set of FY21 results, which were above consensus on revenues and FCF but in line on EBIT. In Q4, the group saw B2B and B2C demand reach pre-pandemic levels. Overall, all divisions recorded an increase in revenues and EBIT. FCF generation was above the group’s guidance and the group will propose a dividend of €1.80. DPDHL’s outlook for FY22 and the medium-term was above our estimates. Despite negligible direct exposure, uncertainties regarding the Russia-Ukraine conflict re ....
09 Mar 2022
Normalisation is still some distance away
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Normalisation is still some distance away
DPDHL released a strong set of FY21 results, which were above consensus on revenues and FCF but in line on EBIT. In Q4, the group saw B2B and B2C demand reach pre-pandemic levels. Overall, all divisions recorded an increase in revenues and EBIT. FCF generation was above the group’s guidance and the group will propose a dividend of €1.80. DPDHL’s outlook for FY22 and the medium-term was above our estimates. Despite negligible direct exposure, uncertainties regarding the Russia-Ukraine conflict re ....