Quarterly Statement Q3 2023

SELECTED FINANCIAL INFORMATION

INCOME STATEMENT

JANUARY 1 TO SEPTEMBER 30
€m 9M 20221 9M 2023 Q3 20221 Q3 2023
Revenue 70,660 60,410 24,038 19,398
Other operating income 1,997 2,052 664 753
Changes in inventories and work performed and capitalized 406 251 226 68
Material expense –40,116 –30,856 –13,889 –9,921
Staff costs –19,292 –19,977 –6,472 –6,494
Depreciation, amortization and impairment losses –3,085 –3,273 –1,057 –1,118
Other operating expenses –4,041 –3,912 –1,475 –1,310
Net income/expenses from investments accounted for using the equity method –15 8 –6 –4
Profit from operating activities (EBIT) 6,514 4,703 2,029 1,372
Financial income 314 290 117 103
Finance costs –665 –756 –242 –239
Foreign-currency result –70 –141 –27 –26
Net finance costs –421 –607 –152 –162
Profit before income taxes 6,093 4,096 1,877 1,210
Income taxes –1,767 –1,229 –544 –363
Consolidated net profit for the period 4,326 2,867 1,333 847
attributable to Deutsche Post AG shareholders 4,024 2,696 1,220 807
attributable to noncontrolling interests 302 171 113 40
Basic earnings per share (€) 3.30 2.26 1.01 0.68
Diluted earnings per share (€) 3.24 2.23 0.99 0.68
1 Prior-year figures adjusted due to the final purchase price allocations in the 2022 fiscal year. For an explanation of the details, see Note 4 of the 2023 half-year report.

BALANCE SHEET

 
€m Dec. 31, 20221 Sept. 30, 2023
ASSETS    
Intangible assets 14,121 14,136
Property, plant and equipment 28,688 29,529
Investment property 22 14
Investments accounted for using the equity method 76 103
Noncurrent financial assets 1,216 1,146
Other noncurrent assets 581 501
Deferred tax assets 1,440 1,365
Noncurrent assets 46,144 46,794
Inventories 927 1,078
Current financial assets 1,355 426
Trade receivables 12,253 10,391
Other current assets 3,551 3,285
Income tax assets 283 478
Cash and cash equivalents 3,790 3,906
Assets held for sale 0 20
Current assets 22,159 19,584
TOTAL ASSETS 68,303 66,378
EQUITY AND LIABILITIES    
Issued capital 1,199 1,185
Capital reserves 3,543 3,549
Other reserves –518 –601
Retained earnings 19,012 19,075
Equity attributable to Deutsche Post AG shareholders 23,236 23,208
Noncontrolling interests 482 359
Equity 23,718 23,567
Provisions for pensions and similar obligations 1,936 1,655
Deferred tax liabilities 346 399
Other noncurrent provisions 1,901 1,961
Noncurrent financial liabilities 17,659 18,537
Other noncurrent liabilities 321 308
Noncurrent provisions and liabilities 22,163 22,860
Current provisions 1,159 988
Current financial liabilities 4,159 3,775
Trade payables 9,933 8,099
Other current liabilities 6,512 6,407
Income tax liabilities 659 669
Liabilities associated with assets held for sale 0 13
Current provisions and liabilities 22,422 19,951
TOTAL EQUITY AND LIABILITIES 68,303 66,378
1 Prior-year figures adjusted due to the final purchase price allocations in the 2022 fiscal year. For an explanation of the details, see Note 4 of the 2023 half-year report.

CASH FLOW STATEMENT

JANUARY 1 TO SEPTEMBER 30
€m 9M 20221 9M 2023 Q3 20221 Q3 2023
Consolidated net profit for the period 4,326 2,867 1,333 847
+ Income taxes 1,767 1,229 544 363
+ Net financial income 421 607 152 162
= Profit from operating activities (EBIT) 6,514 4,703 2,029 1,372
+ Depreciation, amortization and impairment losses 3,085 3,273 1,057 1,118
+ Net costs/net income from disposal of noncurrent assets –57 –29 6 –25
+ Noncash income and expense –9 –170 –2 –37
+ Change in provisions 97 –343 73 –177
+ Change in other noncurrent assets and liabilities –82 –43 –35 –17
+ Dividend received 6 24 1 17
+ Income taxes paid –1,291 –1,280 –446 –385
= Net cash from operating activities before changes in working capital 8,263 6,135 2,683 1,866
+ Change in inventories –299 –143 –189 –29
+ Change in receivables and other current assets –840 2,014 647 408
+ Change in liabilities and other items 751 –1,228 324 289
= Net cash from operating activities 7,875 6,778 3,465 2,534
Subsidiaries and other business units 69 0 5 0
+ Property, plant and equipment and intangible assets 76 105 27 48
+ Investments accounted for using the equity method and other investments 4 30 4 30
+ Other noncurrent financial assets 286 164 76 61
= Proceeds from disposal of noncurrent assets 435 299 112 139
Subsidiaries and other business units –1,514 –1 –133 0
+ Property, plant and equipment and intangible assets –2,405 –2,448 –918 –846
+ Investments accounted for using the equity method and other investments 0 –21 0 –13
+ Other noncurrent financial assets –14 –2 –2 0
= Cash paid to acquire noncurrent assets –3,933 –2,472 –1,053 –859
+ Interest received 128 196 41 64
+ Current financial assets 2,278 1,000 –393 97
= Net cash used in investing activities –1,092 –977 –1,293 –559
JANUARY 1 TO SEPTEMBER 30
€m 9M 20221 9M 2023 Q3 20221 Q3 2023
Proceeds from issuance of noncurrent financial liabilities 1 501 1 500
+ Repayments of noncurrent financial liabilities –2,527 –1,954 –589 –739
+ Change in current financial liabilities –68 –41 –86 –171
+ Other financing activities 143 –195 50 –63
+ Proceeds from transactions with noncontrolling interests 9 1 1 1
+ Cash paid for transactions with noncontrolling interests 0 –10 0 –5
+ Dividend paid to Deutsche Post AG shareholders –2,205 –2,205 0 0
+ Dividend paid to noncontrolling-interest holders –354 –272 –325 –252
+ Purchase of treasury shares –850 –833 –518 –470
+ Interest paid –430 –464 –143 –171
= Net cash used in financing activities –6,281 –5,472 –1,609 –1,370
Net change in cash and cash equivalents 502 329 563 605
+ Effect of changes in exchange rates on cash and cash equivalents 123 –212 51 16
+ Changes in cash and cash equivalents associated with assets held for sale –22 –1 27 –1
+ Cash and cash equivalents at beginning of reporting period 3,531 3,790 3,493 3,286
= Cash and cash equivalents at end of reporting period 4,134 3,906 4,134 3,906
1 Prior-year figures adjusted due to the final purchase price allocations in the 2022 fiscal year. For an explanation of the details, see Note 4 of the 2023 half-year report.

Segments by division

JANUARY 1 TO SEPTEMBER 30
  Express Global Forwarding, Freight Supply Chain eCommerce
€m 2022 2023 20221 2023 20221 2023 2022 2023
External revenue 20,120 17,890 22,353 13,823 12,009 12,496 4,344 4,386
Internal revenue 443 398 1,054 917 59 101 102 104
Total revenue 20,563 18,288 23,407 14,740 12,068 12,597 4,446 4,490
Profit from operating activities (EBIT) 3,084 2,471 1,909 1,083 668 741 298 214
of which: Net income/expenses from investments accounted for using the equity method 2 2 0 0 5 –3 0 0
Segment assets2 20,748 20,373 13,158 11,533 10,088 10,625 2,593 2,802
of which: Investments accounted for using the equity method 8 9 19 31 9 4 0 8
Segment liabilities2 5,437 4,700 5,157 4,164 4,003 3,794 896 804
Net segment assets/liabilities2 15,311 15,673 8,001 7,369 6,085 6,831 1,697 1,998
Capex (assets acquired) 703 696 100 123 349 344 218 290
Capex (right-of-use assets) 1,390 846 190 178 663 577 94 147
Total capex 2,093 1,542 290 301 1,012 921 312 437
Depreciation and amortization 1,238 1,302 227 245 618 700 146 162
Impairment losses 24 0 7 0 9 6 0 0
Total depreciation, amortization and
impairment losses		 1,262 1,302 234 245 627 706 146 162
Other noncash expenses (+) and income (–) 318 244 128 –60 209 141 19 2
Employees3 113,661 111,731 46,314 46,613 177,102 181,421 31,513 32,373
Third quarter                
External revenue 7,036 5,764 7,539 4,122 4,160 4,223 1,456 1,442
Internal revenue 161 121 353 295 24 35 33 35
Total revenue 7,197 5,885 7,892 4,417 4,184 4,258 1,489 1,477
Profit from operating activities (EBIT) 1,012 667 573 306 219 242 87 55
of which: Net income/expenses from investments accounted for using the equity method 0 1 0 0 2 0 0 0
Capex (assets acquired) 328 272 36 43 135 134 93 132
Capex (right-of-use assets) 650 455 65 56 284 265 31 67
Total capex 978 727 101 99 419 399 124 199
Depreciation and amortization 426 442 84 83 214 240 49 57
Impairment losses 0 0 0 0 5 4 0 0
Total depreciation, amortization and
impairment losses		 426 442 84 83 219 244 49 57
Other noncash expenses (+) and income (–) 123 7 64 –41 46 58 8 3
1 Prior-year figures adjusted due to the final purchase price allocations in the 2022 fiscal year. For an explanation of the details, see Note 4 of the 2023 half-year report.
2 As of December 31, 2022, and September 30, 2023.
3 Average FTEs.
JANUARY 1 TO SEPTEMBER 30
  Post & Parcel Germany Group Functions Consolidation1 Group
€m 2022 2023 2022 2023 2022 2023 20222 2023
External revenue 11,815 11,794 19 20 0 1 70,660 60,410
Internal revenue 341 359 1,329 1,466 –3,328 –3,345 0 0
Total revenue 12,156 12,153 1,348 1,486 –3,328 –3,344 70,660 60,410
Profit from operating activities (EBIT) 887 468 –331 –276 –1 2 6,514 4,703
of which: Net income/expenses from investments accounted for using the equity method 0 0 –22 8 0 1 –15 8
Segment assets3 7,727 7,766 5,795 5,927 –64 –68 60,045 58,958
of which: Investments accounted for using the equity method 0 0 40 50 0 1 76 103
Segment liabilities3 2,673 2,626 1,772 1,751 –55 –50 19,883 17,789
Net segment assets/liabilities3 5,054 5,140 4,023 4,176 –9 –18 40,162 41,169
Capex (assets acquired) 668 428 281 268 1 –1 2,320 2,148
Capex (right-of-use assets) 21 9 370 514 –1 0 2,727 2,271
Total capex 689 437 651 782 0 –1 5,047 4,419
Depreciation and amortization 257 265 559 593 0 0 3,045 3,267
Impairment losses 0 0 0 0 0 0 40 6
Total depreciation, amortization and
impairment losses		 257 265 559 593 0 0 3,085 3,273
Other noncash expenses (+) and income (–) 212 133 198 110 0 1 1,084 571
Employees4 157,545 158,350 13,310 14,004 1 1 539,446 544,493
Third quarter                
External revenue 3,843 3,843 4 4 0 0 24,038 19,398
Internal revenue 105 116 440 465 –1,116 –1,067 0 0
Total revenue 3,948 3,959 444 469 –1,116 –1,067 24,038 19,398
Profit from operating activities (EBIT) 290 207 –152 –105 0 0 2,029 1,372
of which: Net income/expenses from investments accounted for using the equity method 0 0 –8 –6 0 1 –6 –4
Capex (assets acquired) 234 150 131 141 1 –1 958 871
Capex (right-of-use assets) 11 2 164 180 –1 0 1,204 1,025
Total capex 245 152 295 321 0 –1 2,162 1,896
Depreciation and amortization 90 92 189 200 0 0 1,052 1,114
Impairment losses 0 0 0 0 0 0 5 4
Total depreciation, amortization and
impairment losses		 90 92 189 200 0 0 1,057 1,118
Other noncash expenses (+) and income (–) 72 43 86 59 –1 1 398 130
1 Including rounding.
2 Prior-year figures adjusted due to the final purchase price allocations in the 2022 fiscal year. For an explanation of the details, see Note 4 of the 2023 half-year report.
3 As of December 31, 2022, and September 30, 2023.
4 Average FTEs.

Reconciliation

 
€m 9M 20221 9M 2023
Total income of reported segments 6,846 4,977
Group Functions –331 –276
Reconciliation to Group/Consolidation –1 2
Profit from operating activities (EBIT) 6,514 4,703
Net finance costs –421 –607
Profit before income taxes 6,093 4,096
Income taxes –1,767 –1,229
Consolidated net profit for the period 4,326 2,867
1 Prior-year figures adjusted due to the final purchase price allocations in the 2022 fiscal year. For an explanation of the details, see Note 4 of the 2023 half-year report.

Earnings per share

BASIC EARNINGS PER SHARE
    9M 20221 9M 2023
Consolidated net profit for the period attributable to
Deutsche Post AG shareholders		 €m 4,024 2,696
Weighted average number of shares outstanding Number 1,218,036,759 1,190,953,261
Basic earnings per share € 3.30 2.26
1 Prior-year figures adjusted due to the final purchase price allocations in the 2022 fiscal year. For an explanation of the details, see Note 4 of the 2023 half-year report.
DILUTED EARNINGS PER SHARE
    9M 20221 9M 2023
Consolidated net profit for the period attributable to
Deutsche Post AG shareholders		 €m 4,024 2,696
Plus interest expense on the convertible bond €m 6 6
Less income taxes €m 1 1
Adjusted consolidated net profit for the period attributable to
Deutsche Post AG shareholders		 €m 4,029 2,701
Weighted average number of shares outstanding Number 1,218,036,759 1,190,953,261
Potentially dilutive shares Number 24,062,690 22,732,805
Weighted average number of shares for diluted earnings Number 1,242,099,449 1,213,686,066
Diluted earnings per share € 3.24 2.23
1 Prior-year figures adjusted due to the final purchase price allocations n the 2022 fiscal year. For an explanation of the details, see Note 4 of the 2023 half-year report.

Issued capital and treasury shares

ISSUED CAPITAL AND TREASURY SHARES
€m 2022 2023

Issued capital

Balance as of January 1

 1,239 1,239
Balance as of December 31/September 30 1,239 1,239

Treasury shares

Balance as of January 1

 –15 –40
Purchase of treasury shares –30 –20
Issue/sale of treasury shares 5 6
Balance as of December 31/September 30 –40 –54
Total as of December 31/September 30 1,199 1,185
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Quarterly Statement Q3 2023