DHL earnings up 16% as volumes start to recover in 2Q2020

Deutsche Post DHL Group reported (07-Jul-2020) group EBIT increased 16% year-on-year to EUR890 million in 2Q2020, despite the impact of the COVID-19 crisis. The company reported that at the start of 2Q2020, business development remained dominated by pandemic protection measures in Europe and North America and an initial sharp decline in volumes. The company took measures to adjust to the changed utilisation of the network and to maintain its own air capacity. Volume development started to slowly recover during the course of 2Q2020. Since the end of Mar-2020, DHL has recorded positive development in shipment volumes driven by e-commerce, both in the German parcel business and internationally. Deutsche Post DHL Group CEO Frank Appel stated: "We have navigated our company through this crisis very well so far". In appreciation for the efforts of employees, the company will grant EUR200 million in one time bonus payments, with more than 500,000 staff to receive EUR300 each. [more - original PR]