Quarterly Statement Q1 2024

SELECTED FINANCIAL INFORMATION

INCOME STATEMENT

JANUARY 1 TO March 31
€m 2023 2024
Revenue 20,918 20,251
Other operating income 601 625
Changes in inventories and work performed and capitalized 114 37
Material expense –10,894 –10,185
Staff costs –6,736 –7,010
Depreciation, amortization and impairment losses –1,071 –1,151
Other operating expenses –1,294 –1,246
Net expenses/income from investments accounted for using the equity method 0 –7
Profit from operating activities (EBIT) 1,638 1,314
Financial income 93 99
Finance costs –266 –282
Foreign-currency result –52 15
Net finance costs –225 –168
Profit before income taxes 1,413 1,146
Income taxes –424 –344
Consolidated net profit for the period 989 802
of which attributable to Deutsche Post AG shareholders 911 743
attributable to noncontrolling interests 78 59
Basic earnings per share (€) 0.76 0.63
Diluted earnings per share (€) 0.75 0.62

BALANCE SHEET

 
€m Dec. 31, 2023 March 31, 2024
ASSETS    
Intangible assets 14,567 14,667
Property, plant and equipment 29,958 30,176
Investment property 13 13
Investments accounted for using the equity method 104 97
Noncurrent financial assets 1,118 1,127
Other noncurrent assets 388 461
Noncurrent income tax assets 0 1
Deferred tax assets 1,453 1,328
Noncurrent assets 47,601 47,870
Inventories 1,061 1,070
Current financial assets 833 889
Trade receivables 10,537 10,659
Other current assets 2,415 2,764
Current income tax assets 663 770
Cash and cash equivalents 3,649 4,615
Assets held for sale 55 46
Current assets 19,213 20,813
TOTAL ASSETS 66,814 68,683
EQUITY AND LIABILITIES    
Issued capital 1,181 1,169
Capital reserves 3,579 3,650
Other reserves –1,109 –883
Retained earnings 18,826 19,779
Equity attributable to Deutsche Post AG shareholders 22,477 23,715
Noncontrolling interests 413 460
Equity 22,890 24,175
Provisions for pensions and similar obligations 2,519 2,205
Deferred tax liabilities 410 357
Other noncurrent provisions 2,062 2,155
Noncurrent financial liabilities 17,939 19,099
Other noncurrent liabilities 280 282
Noncurrent income tax liabilities 392 396
Noncurrent provisions and liabilities 23,602 24,494
Current provisions 1,079 1,049
Current financial liabilities 4,779 4,246
Trade payables 8,479 7,883
Other current liabilities 5,536 6,272
Current income tax liabilities 449 564
Liabilities associated with assets held for sale 0 0
Current provisions and liabilities 20,322 20,014
TOTAL EQUITY AND LIABILITIES 66,814 68,683

CASH FLOW STATEMENT

JANUARY 1 TO March 31
€m 2023 2024
Consolidated net profit for the period 989 802
+ Income taxes 424 344
+ Net finance costs 225 168
= Profit from operating activities (EBIT) 1,638 1,314
+ Depreciation, amortization and impairment losses 1,071 1,151
+ Net cost/net income from disposal of noncurrent assets –5 –2
+ Other noncash income and expense –17 –30
+ Change in provisions –53 –44
+ Change in other noncurrent assets and liabilities –7 –23
+ Dividend received 3 0
+ Income taxes paid –389 –316
= Net cash from operating activities before changes in working capital 2,241 2,050
+ Change in inventories –61 4
+ Change in receivables and other current assets 782 –511
+ Change in liabilities and other items –567 458
= Net cash from operating activities 2,395 2,001
Subsidiaries and other business units 0 0
+ Property, plant and equipment and intangible assets 32 46
+ Investments accounted for using the equity method and other investments 0 0
+ Other noncurrent financial assets 53 54
= Proceeds from disposal of noncurrent assets 85 100
Subsidiaries and other business units –3 0
+ Property, plant and equipment and intangible assets –809 –717
+ Investments accounted for using the equity method and other investments 0 –16
+ Other noncurrent financial assets –2 –4
= Cash paid to acquire noncurrent assets –814 –737
+ Interest received 67 56
+ Change in current financial asset 782 –16
= Net cash from/used in investing activities 120 –597
Proceeds from issuance of noncurrent financial liabilities 0 990
+ Repayments of noncurrent financial liabilities –597 –628
+ Change in current financial liabilities –50 –93
+ Other financing activities –80 2
+ Net cash from/for transactions with noncontrolling interests –5 0
+ Dividend paid to noncontrolling-interest holders –12 –6
+ Purchase of treasury shares –318 –497
+ Interest paid –163 –195
= Net cash used in financing activities –1,225 –427
Net change in cash and cash equivalents 1,290 977
+ Effect of changes in exchange rates on cash and cash equivalents –125 –11
+ Cash and cash equivalents at beginning of reporting period 3,790 3,649
= Cash and cash equivalents at end of reporting period 4,955 4,615

Segments by division

JANUARY 1 TO MARCH 31
  Express Global Forwarding,
Freight		 Supply Chain eCommerce
€m 2023 2024 2023 2024 2023 2024 2023 2024
External revenue 6,135 5,878 5,161 4,320 4,072 4,301 1,470 1,592
Internal revenue 146 128 323 297 35 32 35 41
Total revenue 6,281 6,006 5,484 4,617 4,107 4,333 1,505 1,633
Profit from operating activities (EBIT) 903 632 389 263 227 256 81 60
of which: net expenses/income from investments accounted for using the equity method 0 –1 0 0 –3 –2 0 0
Segment assets1 20,649 20,727 11,354 11,765 10,430 10,723 3,390 3,459
of which: investments accounted for using the equity method 9 8 13 13 17 15 25 25
Segment liabilities1 4,824 4,800 3,906 3,902 3,836 3,853 1,000 929
Net segment assets/liabilities1 15,825 15,927 7,448 7,863 6,594 6,870 2,390 2,530
Capex (assets acquired) 182 165 43 42 112 117 42 50
Capex (right-of-use assets) 150 230 54 47 133 252 37 114
Total capex 332 395 97 89 245 369 79 164
Depreciation and amortization 425 456 80 88 229 251 52 64
Impairment losses 0 0 0 0 0 1 0 0
Total depreciation, amortization and impairment losses 425 456 80 88 229 252 52 64
Net cash from (+)/used in (–) operating activities 1,223 1,124 857 –32 161 401 137 150
Employees2 113,172 109,684 47,384 45,782 182,449 185,806 32,203 39,651
1 As of December 31, 2023, and March 31, 2024.
2 Average FTEs.
JANUARY 1 TO MARCH 31
  Post & Parcel
Germany		 Group Functions Consolidation1 Group
€m 2023 2024 2023 2024 2023 2024 2023 2024
External revenue 4,078 4,156 1 4 1 0 20,918 20,251
Internal revenue2 120 110 453 484 –1,112 –1,092 0 0
Total revenue2 4,198 4,266 454 488 –1,111 –1,092 20,918 20,251
Profit from operating activities (EBIT) 138 194 –102 –91 2 0 1,638 1,314
of which: net expenses/income from investments accounted for using the equity method 0 0 3 –4 0 0 0 –7
Segment assets2, 3 9,585 9,461 4,226 4,350 –61 –66 59,573 60,419
of which: investments accounted for using the equity method 0 0 39 36 1 0 104 97
Segment liabilities2, 3 2,598 2,652 1,567 1,727 –44 –46 17,687 17,817
Net segment assets/liabilities2, 3 6,987 6,809 2,659 2,623 –17 –20 41,886 42,602
Capex (assets acquired)2 163 88 27 21 0 0 569 483
Capex (right-of-use assets)2 6 28 77 119 0 0 457 790
Total capex2 169 116 104 140 0 0 1,026 1,273
Depreciation and amortization2 144 150 141 140 0 1 1,071 1,150
Impairment losses 0 0 0 0 0 0 0 1
Total depreciation, amortization and impairment losses2 144 150 141 140 0 1 1,071 1,151
Net cash from (+)/used in (–) operating activities2 367 524 –30 113 –320 –279 2,395 2,001
Employees4 159,215 156,056 13,945 14,048 0 0 548,368 551,027
1 Including rounding.
2 Prior-period amounts adjusted; the vehicle fleet used by Post & Parcel Germany was transferred from Group Functions to the Post & Parcel Germany segment.
3 As of December 31, 2023, and March 31, 2024.
4 Average FTEs.
Reconciliation
€m Q1 2023 Q1 2024
Total income of reported segments 1,738 1,405
Group Functions –102 –91
Reconciliation to Group/Consolidation 2 0
Profit from operating activities (EBIT) 1,638 1,314
Net finance costs –225 –168
Profit before income taxes 1,413 1,146
Income taxes –424 –344
Consolidated net profit for the period 989 802

Earnings per share

BASIC EARNINGS PER SHARE
    Q1 2023 Q1 2024
Consolidated net profit for the period attributable to Deutsche Post AG shareholders €m 911 743
Weighted average number of shares outstanding Number 1,194,318,722 1,172,904,251
Basic earnings per share € 0.76 0.63
 
DILUTED EARNINGS PER SHARE
    Q1 2023 Q1 2024
Consolidated net profit for the period attributable to Deutsche Post AG shareholders €m 911 743
Plus interest expense on the convertible bond €m 2 2
Less income taxes €m 01 1
Adjusted consolidated net profit for the period attributable to Deutsche Post AG shareholders €m 913 744
Weighted average number of shares outstanding Number 1,194,318,722 1,172,904,251
Potentially dilutive shares Number 24,928,041 22,963,506
Weighted average number of shares for diluted earnings Number 1,219,246,763 1,195,867,757
Diluted earnings per share € 0.75 0.62
1 Rounded below €1 million.

Changes in issued capital and treasury shares

 
€m 2023 2024
Issued capital    
Balance as of January 1 1,239 1,239
Balance as of December 31/March 31 1,239 1,239
Treasury shares    
Balance as of January 1 –40 –58
Purchase of treasury shares –24 –12
Issue/sale of treasury shares 6 0
Balance as of December 31/March 31 –58 –70
Total as of December 31/March 31 1,181 1,169
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Quarterly Statement Q1 2024