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German logistics giant
Deutsche Post DHL Group (OTC: DPSGY) reported Tuesday that its 2020 operating profit hit about $5.8 billion, higher than the original estimates of between $4.9 billion and $5.3 billion and essentially matching preliminary results the company disclosed in January.
DPDHL also forecast about $6.6 billion in 2021 operating profit, slightly above the preliminary forecast in January. DPDHL, which traditionally delivers rolling three-year forecasts, predicted that 2023 operating profit will exceed $7.1 billion. DHL measures operating profit by earnings before interest and taxes (EBIT).
Free cash flow in 2020 came in at around $3 billion, well above the $2.4 billion initially forecast, the company said. DPDHL said it expects to cumulatively generate between $8.9 billion and $10.1 billion in free cash flow from 2021 through 2023.