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1、2023 HALF-YEAR REPORT1 INTERIM GROUP MANAGEMENT REPORT1 General information2 Report on economic position11 Expected developments,opportunities and risks 13 CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS13 Income statement14 Statement of comprehensive income15 Balance sheet17 Cash flow statement

2、19 Statement of changes in equity21 Selected explanatory notes38 Responsibility statement39 Review report40 FINANCIAL CALENDAR 40 CONTACTSELECTED KEY FIGURESH1 2022 adjustedH1 2023+/%Q2 2022 adjustedQ2 2023+/%Revenuem46,62241,01212.024,02920,09416.4Profit from operating activities(EBIT)m4,4853,33125

3、.72,3261,69327.2Return on sales1%9.68.19.78.4EBIT after asset charge(EAC)m2,8821,60744.21,49482744.6Consolidated net profit for the period2m2,8041,88932.61,45397832.7Free cash flowm4681,43310066545032.3Net debt3m15,85617,61411.1Earnings per share42.291.5831.01.190.8231.1Number of employees5583,81658

4、6,4040.41 EBIT/revenue.2 After deduction of noncontrolling interests.3 Prior-year figure as of December 31.4 Basic earnings per share.5 Headcount at the end of the quarter,including trainees.GENERAL INFORMATIONOrganizational changesAfter more than 15 years as CEO,Frank Appels term of office as a mem

5、ber of the Board of Management expired at the end of the Annual General Meeting on May 4,2023.Tobias Meyer,who has been a member of the Board of Management since April 2019,has been the new CEO since that date.Deutsche Post DHL Group changed its name to DHL Group with effect from July 1,2023;its sto

6、ck market ticker is now DHL.The adoption of this new name does not have any influence on the services offered by the divisions.The Deutsche Post and DHL brands will continue to be used as before.The change of name does not have any impact on the names or characteristics of the Groups legal entities,

7、particularly Deutsche Post AG,or on the internal and external relations with these entities.Research and developmentAs a service provider,DHL Group does not engage in research and development activities in the narrower sense and therefore has no significant expenses to report in this connection.1Int

8、erim Group Management ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 2023REPORT ON ECONOMIC POSITIONEconomic parametersThe following data describing the general economic parameters of the global economy stem from S&P Global Market Intelligence(S&P Global).The interi

9、m recovery of the global economy following the end of the pandemic continued to lose momentum in the second quarter.At the same time,activity remained much more robust in the service sector than in industry of late,but dampened real purchasing power linked to historically still-high inflation rates

10、and dwindling accumulated savings from pandemic lockdown periods has dampened matters here,too.The unsettledness caused by the ongoing war in Ukraine and the structural upheaval in the energy sector remained a burden for both business and consumer confidence.Notwithstanding weakening economic activi

11、ty,leading central banks like the US Federal Reserve(Fed)and the European Central Bank(ECB)have tightened monetary policy even further during the second quarter,in order to prevent core inflation(excluding food and energy)from stabilizing at levels far above the proclaimed target of 2%.In the end ma

12、rkets relevant for DHL Group,B2B volume development was negatively affected by the reduction in inventories in addition to the general economic parameters.In contrast,B2C volumes in parcel business proved to be relatively resilient.This confirms the structural trend of a shift in consumption toward

13、e-commerce even in a weaker economic environment.Significant eventsAs part of the completed second and initiated third tranches of the 20222024 share buyback program,we had repurchased a total of 7.5 million additional shares in the amount of 302 million as of June 30,2023.On June 26,2023,we placed

14、a sustainability-linked bond with an issue volume of 500 million and a term through 2033.The interest rate is coupled with the achievement of our targets for the reduction of CO2 emissions.Payments in conjunction with the bond will not be made until after the reporting date.Results of operationsSELE

15、CTED INDICATORS FOR RESULTS OF OPERATIONSH1 2022 adjustedH1 2023Q2 2022 adjustedQ2 2023Revenuem46,62241,01224,02920,094Profit from operating activities(EBIT)m4,4853,3312,3261,693Return on sales1%9.68.19.78.4EBIT after asset charge(EAC)m2,8821,6071,494827Consolidated net profit for the period2m2,8041

16、,8891,453978Earnings per share32.291.581.190.821 EBIT/revenue.2 After deduction of noncontrolling interests.3 Basic earnings per share.Changes to the portfolioThe portfolio has not undergone any noteworthy changes.2Interim Group Management ReportCondensed Consolidated Interim Financial StatementsCon

17、tactHalf-year Report 2023Group revenue below prior-year level due to economic factorsIn the first half of 2023,Group revenue was 41,012 million(previous year:46,622 million)due to the current economic envi-ronment and the expected normalization of the freight markets.Currency effects reduced revenue

18、 by 925 million,74.7%of which was generated abroad(previous year:77.0%).In the second quarter,revenue declined from 24,029 million in the previous year to 20,094 million,also curtailed by negative currency effects in the amount of 669 million.At 1,299 million,other oper-ating income fell short of th

19、e prior-year period(1,333 million),which also included the disposal of the StreetScooter business.Significant decrease in material expenseMaterial expense decreased significantly by 5,292 million to 20,935 million,largely due to lower transport costs in the Global Forwarding,Freight division in part

20、icular.Wage and salary increases along with the increased number of employees raised staff costs from 12,820 million to 13,483 million.Depreciation,amortization and impairment losses increased from 2,028 mil-lion to 2,155 million,due particularly to investments.Other operating expenses came to 2,602

21、 million,thus slightly exceed-ing the prior year(2,566 million),also driven by increased travel and entertainment expenses.Reduced consolidated EBITIn the first half of 2023,profit from operating activities(EBIT)declined by 25.7%to 3,331 million(previous year:4,485 million).Due to higher charges fro

22、m the valuation of stock appreciation rights(SAR),among other factors,net finance costs of 445 million were also higher compared with the prior-year period(269 million).Profit before income taxes fell by 1,330 million to 2,886 million.As a consequence,income taxes decreased by 357 million to 866 mil

23、lion.The tax rate was 30.0%(previous year:29.0%).Consolidated net profit for the period in line with EBITAt 2,020 million,consolidated net profit for the first half of 2023 was below the prior-year figure(2,993 million).Of this amount,1,889 million is attributable to Deutsche Post AG shareholders an

24、d 131 million to noncontrolling interest holders.Earnings per share amounted to 1.58(basic)and 1.55(diluted).EBIT after asset charge(EAC)declinesEAC declined from 2,882 million to 1,607 million in the first half of 2023,primarily due to the decrease in EBIT.The imputed asset charge rose,primarily du

25、e to investments in property,plant and equipment in all divisions,partially offset by a decrease in net working capital in the Global Forwarding,Freight division.EBIT AFTER ASSET CHARGE(EAC)mH1 2022 adjustedH1 2023+/%EBIT4,4853,33125.7 Asset charge1,6031,7247.5 EAC2,8821,60744.23Interim Group Manage

26、ment ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 2023DivisionsExpress:Effective yield and cost managementRevenue in the division decreased by 7.2%to 12,403 million in the first half of 2023,also due to negative currency effects of 416 million,partly offset with h

27、igher fuel surcharges.Excluding currency effects and fuel surcharges,first-half revenue was down 5.8%.Due to the weak macroeconomic situation,TDI daily shipment volumes declined by 4.5%.To counter this,there was a focus on effectively managing costs and optimizing network capacity.We addressed the o

28、ngoing effects of inflation with general price increases that are being systematically implemented.In the first half of 2023,EBIT in the division was 1,804 million,12.9%below the level of the prior-year figure.The return on sales was 14.5%.In the second quarter,EBIT in the division was 901 million a

29、nd thus 18.2%below the prior-year figure,while the return on sales amounted to 14.7%.KEY FIGURES,EXPRESSm H1 2022H1 2023+/%Q2 2022Q2 2023+/%Revenue13,36612,4037.26,9936,12212.5of which Europe5,4695,5461.42,8172,7303.1Americas2,9592,9640.21,5611,4924.4Asia Pacific4,8364,32910.52,5312,17614.0MEA(Middl

30、e East and Africa)7627570.74003785.5Consolidation/Other6601,19380.83166541001192921001 EBIT/revenue.6Interim Group Management ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 2023eCommerce:Revenue at prior-year levelThe division generated revenue of 3,013 million in t

31、he first half of 2023,up 1.9%on the prior-year level.Excluding negative currency effects of 34 million,revenue was 3.0%up on the prior-year period.In the second quarter of 2023,revenue in the division decreased slightly by 0.3%to 1,508 million.EBIT in the division decreased from 211 million to 159 m

32、illion in the first half of 2023.This was attributable mainly to higher costs as well as continuous investment in the expansion of the networks.The EBIT margin for the first half of the year was 5.3%.EBIT in the division stood at 78 million in the second quarter of 2023.KEY FIGURES,ECOMMERCEmH1 2022

33、H1 2023+/%Q2 2022Q2 2023+/%Revenue2,9573,0131.91,5121,5080.3of which Americas1,0231,0421.95225180.8Europe1,5811,6554.78028313.6Asia35331610.518715915.0Other/Consolidation0010100Profit from operating activities(EBIT)21115924.61097828.4Return on sales(%)17.15.37.25.2Operating cash flow29622723.3126902

34、8.61 EBIT/revenue.Post&Parcel Germany:Ongoing structural change weighs on business performanceIn the first half of 2023,revenue in the division declined slightly by 0.2%on the prior-year figure to 8,194 million.This was mainly due to lower revenue and volumes in German postal business caused by sust

35、ained structural change as well as declining sales of advertising mail due to inflation and consumer restraint.Revenue development for Parcel Germany and International compensated for this to a large extent.Division EBIT in the first half of 2023 amounted to 261 million and thus fell 56.3%short of t

36、he prior-year period.In addition to declines in revenue,this was due to higher material costs brought on by inflation,pressure from collective bargaining agreements,and additional staff costs due to the risk of strikes in the first quarter of 2023.Return on sales in the first half of 2023 was 3.2%.I

37、n the second quarter,growth in parcel business in particular contributed to improved performance.Nevertheless,at 123 mil-lion,EBIT was down 49.2%on the prior-year quarter,due to higher costs as a result of inflation as well as the payment of the inflation compensation premium.KEY FIGURES,POST&PARCEL

38、 GERMANYmH1 2022H1 2023+/%Q2 2022Q2 2023+/%Revenue8,2088,1940.23,9633,9960.8of which Post Germany3,9663,7425.61,8781,7805.2Parcel Germany3,0503,2135.31,5061,6096.8International1,1511,1943.75585834.5Other/Consolidation41459.8212414.3Profit from operating activities(EBIT)59726156.324212349.2Return on

39、sales(%)17.33.26.13.1Operating cash flow88054638.040122942.91 EBIT/revenue.7Interim Group Management ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 2023POST&PARCEL GERMANY:REVENUEmH1 2022H1 2023+/%Q2 2022Q2 2023+/%Post Germany3,9663,7425.61,8781,7805.2of which Mail

40、Communication2,7012,5276.41,2721,1975.9Dialogue Marketing9088625.14324134.4Other/Consolidation Post Germany3573531.11741702.3Parcel Germany3,0503,2135.31,5061,6096.8POST&PARCEL GERMANY:VOLUMESMail items(millions)H1 2022H1 2023+/%Q2 2022Q2 2023+/%Post Germany7,0836,6416.23,3613,1496.3of which Mail Co

41、mmunication3,1523,0004.81,4641,4024.2Dialogue Marketing3,4633,1907.91,6531,5178.2Parcel Germany7908224.13924166.1Financial positionSELECTED CASH FLOW INDICATORSmH1 2022H1 2023Q2 2022Q2 2023Cash and cash equivalents as of June 303,4933,2863,4933,286Change in cash and cash equivalents612768071,566Net

42、cash from operating activities4,4104,2441,9841,849Net cash from/used in investing activities2014181,164538Net cash used in financing activities4,6724,1023,9552,877Solid liquidity situationAs of June 30,2023,the Group reported centrally available liquidity in the amount of 1.0 billion,which is compri

43、sed of cash and cash equivalents as well as current financial assets.Due to our solid liquidity situation,the syndicated credit line in the amount of 2 billion was not drawn.In addition,unused bilateral credit lines in the amount of 1.6 billion were available as of the reporting date.Further capital

44、 expenditure in the expansion of network infrastructureInvestments in property,plant and equipment and intangible assets acquired(not including goodwill)amounted to 1,277 million in the first half of 2023(previous year:1,362 million)and were made predominantly in the expansion of network infrastruct

45、ure.For a breakdown of capital expenditure into asset classes and by division and region,see notes 12 and 16 to the consolidated financial statements.8Interim Group Management ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 2023Operating cash flow slightly under prio

46、r yearNet cash from operating activities decreased in the first half of 2023 from 4,410 million in the previous year to 4,244 million.The lower EBIT was compensated for primarily by a lower net cash outflow from changes in the working capital.Cash outflow from investing activities was 418 million,co

47、mpared with a cash inflow of 201 million in the previous year.The change in current financial assets led to a cash inflow of 903 million in the reporting period.This figure is 1,768 million below the prior-year amount,which included the sale of money market funds to enable the payment of purchase pr

48、ices for subsidiaries and other business units in the amount of 1,381 million,in addition to the payment of the dividend.This primarily concerned the Hillebrand Group.Free cash flow which was impacted by the payment of the purchase price for Hillebrand in the previous year improved signif-icantly fr

49、om 468 million to 1,433 million.Excluding the payments for acquisitions and divestitures,free cash flow decreased by 343 million.Net cash used in financing activities decreased from 4,672 million to 4,102 million.In particular,a bond and a loan were paid back in the previous year,while the payments

50、for lease liabilities increased during the reporting period.There was an outflow of 132 million from the changes in other financing activities,compared with an inflow of 93 million in the previous year.The largest item was the dividend distribution,which amounted to 2,205 million.Cash and cash equiv

51、alents fell from 3,790 mil-lion as of December 31,2022,to 3,286 million.CALCULATION OF FREE CASH FLOWmH1 2022H1 2023Q2 2022Q2 2023Net cash from operating activities4,4104,2441,9841,849Sale of property,plant and equipment and intangible assets49572325Acquisition of property,plant and equipment and in

52、tangible assets1,4871,602748793Cash outflow from change in property,plant and equipment and intangible assets1,4381,545725768Disposals of subsidiaries and other business units640210Acquisition of subsidiaries and other business units1,381142Acquisition of investments accounted for using the equity m

53、ethod and other investments0808Cash outflow/inflow from acquisitions/divestitures1,3179176Proceeds from lease receivables88954648Interest from lease receivables91447Repayment of lease liabilities1,0751,191550608Interest on lease liabilities212253110128Cash outflow for leases1,1901,355610681Interest

54、received(without leasing)781185758Interest paid(without leasing)7540582Net interest received/paid378156Free cash flow4681,4336654509Interim Group Management ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 2023Net assetsSELECTED INDICATORS FOR NET ASSETSDec.31,2022Jun

55、e 30,2023Equity ratio%34.734.6Net debtm15,85617,614Net interest cover1,222.420.7Net gearing%40.143.91 In the first half-year.2 Prior-year figure adjusted.Decrease in consolidated total assetsThe Groups total assets amounted to 65,159 million as of June 30,2023,and were thus below the level as of Dec

56、ember 31,2022(68,303 million).At 45,955 million,noncurrent assets were slightly below the figure as of the comparison date(46,144 million)due to,among other things,a lower goodwill on account of currency effects.At 28,711 million,property,plant and equipment were at the same level as of December 31,

57、with capital expenditure nearly being compensated for by negative currency effects,deprecia-tion,amortization and impairment losses,and disposals.Current financial assets dropped significantly from 1,355 million to 446 million,largely on account of the liquidation of short-term investments.Trade rec

58、eivables declined noticeably from 12,253 million to 10,611 million.Other current assets fell by 91 million to 3,460 million.Cash and cash equivalents decreased by 504 million to 3,286 million.At 21,980 million,equity attributable to Deutsche Post AG shareholders was considerably lower than on Decemb

59、er 31,2022(23,236 million):it was increased by the consolidated net profit for the period,but the dividend distribution,losses from the remeasurement of pension provisions and currency effects had the opposite effect.The remeasurements in particular resulted in an increase of 55 million in provision

60、s for pensions and similar obligations to 1,991 million.At 22,054 million,financial liabilities were 236 million higher than the level at the end of the year also due to the liability in conjunction with the third tranche of the share buyback program in the amount of 473 million.Trade payables decli

61、ned from 9,933 million to 7,982 million.Other current liabilities fell by 218 million to 6,294 million due primarily to a decrease in liabilities to employees.10Interim Group Management ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 2023Higher net debtNet debt rose

62、from 15,856 million as of December 31,2022,to 17,614 million as of June 30,2023.At 34.6%,the equity ratio was in line with the figure as of December 31,2022(34.7%).The net interest cover ratio indicates the extent to which net interest obligations are covered by EBIT.This figure declined from 22.4 t

63、o 20.7.Net gearing expresses the ratio of net debt to the total of equity and net debt.Net gearing was 43.9%as of June 30,2023.NET DEBTmDec.31,2022June 30,2023Noncurrent financial liabilities17,61617,572 Current financial liabilities3,4863,806 Financial liabilities121,10221,378 Cash and cash equival

64、ents3,7903,286 Current financial assets1,355446 Positive fair value of noncurrent financial derivatives210132 Financial assets5,2463,764Net debt15,85617,6141 Less operating financial liabilities.2 Recognized in noncurrent financial assets in the balance sheet.EXPECTED DEVELOPMENTS,OPPORTUNITIES AND

65、RISKSFuture economic parametersGlobal economic growth is likely to remain weak during the second half of 2023.The high level of core inflation will likely lead to continued tightening of monetary policy,at least for the Fed and the ECB,with a loosening expected no earlier than the middle of 2024.Sub

66、dued global trade the April forecast by the IMF anticipates an increase of merely 2.4%in 2023,half as much as in 2022 reflects primarily the cyclical weakness in the most important advanced economies.S&P Global currently expects global growth of 2.4%in 2023,which exceeds the 1.9%foreseen at the begi

67、nning of the year but undershoots the pre-pandemic growth rates of more than 3%.Chinese economic activity is expected to accelerate markedly to 5.2%.GDP growth of 1.8%is expected for the United States and 0.7%for the eurozone,while the forecast for Germany predicts even a decline in economic activit

68、y of 0.4%.Expected developmentsIn the first half of the year,the economic trend predicted in our forecast largely materialized as expected.In particular,the devel-opment of global B2B volumes was characterized by the lack of notable economic impetus.By contrast,the expected reluctance of consumers i

69、n B2C business was less prominent.Our consistent cost and yield management made an effective contribution to the results we have generated to date,which is why we are adjusting the expected earnings figures for the individual scenarios as follows:If there is no significant recovery from the level of

70、 the first half of the year,we now expect consolidated EBIT of at least 6.2 billion.In the event of only a modest economic recovery in the second half of the year,we now expect consolidated EBIT of around 6.6 bil-lion.A scenario with a dynamic recovery across all markets would result in EBIT of arou

71、nd 7.0 billion as previously forecast.11Interim Group Management ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 2023In the 2023 fiscal year as a whole,we anticipate consolidated EBIT between 6.2 billion and 7.0 billion.The DHL divisions are projected to generate tot

72、al EBIT between 5.7 billion and 6.5 billion.In the Post&Parcel Germany division,EBIT is forecast to come in between 0.8 billion and 1.0 billion.Group Functions is anticipated to contribute around 0.45 billion to earnings.We plan for capital expenditure(excluding leases)to range between 3.4 billion a

73、nd 3.9 billion in 2023,while focusing on the same areas as in previous years.Free cash flow is projected at around 3.0 billion,excluding acquisitions/divestitures.We currently expect cash outflows of around 500 million for smaller acquisitions.As announced,the rating scale for the cybersecurity rati

74、ng has changed due to adjustments to the method of the rating agency.In line with the change,we adjusted our target for the 2023 fiscal year from 710 to 690 points.Opportunities and risksMail volumes declined more sharply than planned in the first half of 2023.If this trend continues,this represents

75、 a risk of medium significance for us.The risk from collective bargaining negotiations became concrete with the conclusion of the collec-tive bargaining agreement and it was already accounted for in the forecast starting on page 71 of the 2022 Annual Report.There are pricing risks due to greater pre

76、ssure in certain markets in the Express division as well as in other divisions,in particular in the Global Forwarding,Freight division,with the risk of lower freight rates.Overall,this risk is still of medium significance for the Group.The Groups overall opportunity and risk situation did not otherw

77、ise change significantly during the first half of 2023 compared with the situation described in the 2022 Annual Report beginning on page 72.Based upon the Groups early-warning system and in the estimation of its Board of Management,there are currently no identifiable risks for the Group that,individ

78、ually or collectively,cast doubt upon the Groups ability to continue as a going concern.Nor are any such risks apparent in the foreseeable future.12Interim Group Management ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 2023INCOME STATEMENTJANUARY 1 TO JUNE 30mNoteH

79、1 20221H1 2023Q2 20221Q2 2023Revenue546,62241,01224,02920,094Other operating income61,3331,299770698Changes in inventories and work performed and capitalized718018315269Material expense26,22720,93513,74310,041Staff costs12,82013,4836,5006,747Depreciation,amortization and impairment losses82,0282,155

80、1,0191,084Other operating expenses92,5662,6021,3561,308Net income from investments accounted for using the equity method10912712Profit from operating activities(EBIT)4,4853,3312,3261,693Financial income19718710594Finance costs423517225251Foreign-currency result431152663Net finance costs269445146220P

81、rofit before income taxes4,2162,8862,1801,473Income taxes1,223866633442Consolidated net profit for the period2,9932,0201,5471,031attributable to Deutsche Post AG shareholders2,8041,8891,453978attributable to noncontrolling interests1891319453Basic earnings per share()112.291.581.190.82Diluted earnin

82、gs per share()112.251.551.170.801 Prior-year figures adjusted,note 4.13Interim Group Management ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 2023STATEMENT OF COMPREHENSIVE INCOMEJANUARY 1 TO JUNE 30mH1 20221H1 2023Q2 20221Q2 2023Consolidated net profit for the per

83、iod2,9932,0201,5471,031Items that will not be reclassified to profit or lossChange due to remeasurements of net pension provisions2,3741711,65413 Reserve for equity instruments without recycling1331 Income taxes relating to components of other comprehensive income191339914 Total,net of tax2,1842071,

84、5520Items that will be reclassified subsequently to profit or lossHedging reserves Changes from unrealized gains and losses347178 Changes from realized gains and losses111174Currency translation reserve Changes from unrealized gains and losses78830354470 Changes from realized gains and losses0101 In

85、come taxes relating to components of other comprehensive income623221 Share of other comprehensive income of investments accounted for using the equity method,net of tax7150 Total,net of tax81229855760Other comprehensive income,net of tax2,9965052,10960Total comprehensive income5,9891,5153,656971att

86、ributable to Deutsche Post AG shareholders5,7801,4133,551937attributable to noncontrolling interests209102105341 Prior-year figures adjusted,note 4.14Interim Group Management ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 2023BALANCE SHEETmNoteDec.31,20221June 30,20

87、23ASSETSIntangible assets1214,12114,046Property,plant and equipment1228,68828,711Investment property2222Investments accounted for using the equity method7693Noncurrent financial assets131,2161,200Other noncurrent assets581567Deferred tax assets1,4401,316Noncurrent assets46,14445,955Inventories9271,0

88、38Current financial assets131,355446Trade receivables12,25310,611Other current assets3,5513,460Income tax assets283363Cash and cash equivalents3,7903,286Assets held for sale00Current assets22,15919,204TOTAL ASSETS68,30365,159Balance sheetcontinued on page 1615Interim Group Management ReportCondensed

89、 Consolidated Interim Financial StatementsContactHalf-year Report 2023mNoteDec.31,20221June 30,2023EQUITY AND LIABILITIESIssued capital141,1991,191Capital reserves153,5433,579Other reserves518795Retained earnings1519,01218,005Equity attributable to Deutsche Post AG shareholders23,23621,980Noncontrol

90、ling interests482565Equity23,71822,545Provisions for pensions and similar obligations1,9361,991Deferred tax liabilities346334Other noncurrent provisions1,9011,868Noncurrent financial liabilities17,65917,616Other noncurrent liabilities321311Noncurrent provisions and liabilities22,16322,120Current pro

91、visions1,1591,172Current financial liabilities4,1594,438Trade payables9,9337,982Other current liabilities6,5126,294Income tax liabilities659608Liabilities associated with assets held for sale00Current provisions and liabilities22,42220,494TOTAL EQUITY AND LIABILITIES68,30365,1591 Prior-year figures

92、adjusted,note 4.16Interim Group Management ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 2023CASH FLOW STATEMENTJANUARY 1 TO JUNE 30mH1 20221H1 2023Q2 20221Q2 2023Consolidated net profit for the period2,9932,0201,5471,031 Income taxes1,223866633442 Net financial in

93、come269445146220 Profit from operating activities(EBIT)4,4853,3312,3261,693 Depreciation,amortization and impairment losses2,0282,1551,0191,084 Net costs/net income from disposal of noncurrent assets63491 Noncash income and expense713367116 Change in provisions2416627113 Change in other noncurrent a

94、ssets and liabilities47262219 Dividend received5734 Income taxes paid845895457506 Net cash from operating activities before changes in working capital5,5804,2692,8202,028 Change in inventories11011410953 Change in receivables and other current assets 1,4871,606640824 Change in liabilities and other

95、items4271,51787950 Net cash from operating activities4,4104,2441,9841,849Subsidiaries and other business units640210 Property,plant and equipment and intangible assets49572325 Other noncurrent financial assets21010316150 Proceeds from disposal of noncurrent assets32316020575Subsidiaries and other bu

96、siness units1,381142 Property,plant and equipment and intangible assets1,4871,602748793 Investments accounted for using the equity method and other investments0808 Other noncurrent financial assets12220 Cash paid to acquire noncurrent assets2,8801,613754799 Interest received871326165 Current financi

97、al assets2,6719031,652121 Net cash from/used in investing activities2014181,164538Cash flow statementcontinued on page 1817Interim Group Management ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 2023JANUARY 1 TO JUNE 30mH1 20221H1 2023Q2 20221Q2 2023Proceeds from is

98、suance of noncurrent financial liabilities0101 Repayments of noncurrent financial liabilities1,9381,2151,348618 Change in current financial liabilities181302180 Other financing activities931324552 Proceeds from transactions with noncontrolling interests8000 Cash paid for transactions with noncontrol

99、ling interests0500 Dividend paid to Deutsche Post AG shareholders2,2052,2052,2052,205 Dividend paid to noncontrolling-interest holders2920168 Purchase of treasury shares33236326545 Interest paid287293168130 Net cash used in financing activities4,6724,1023,9552,877Net change in cash and cash equivale

100、nts612768071,566 Effect of changes in exchange rates on cash and cash equivalents7222837103 Changes in cash and cash equivalents associated with assets held for sale490470 Cash and cash equivalents at beginning of reporting period3,5313,7904,3104,955 Cash and cash equivalents at end of reporting per

101、iod3,4933,2863,4933,2861 Prior-year figures adjusted,note 4.18Interim Group Management ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 2023STATEMENT OF CHANGES IN EQUITYJANUARY 1 TO JUNE 30Other reservesmIssuedcapitalCapitalreservesHedgingreservesReserve for equity i

102、nstruments without recyclingCurrencytranslationreserveBalance as of January 1,20221,2243,533612727DividendTransactions with noncontrolling interests000Changes in noncontrolling interests due to changes in consolidated groupCapital increase/decrease611Total comprehensive incomeConsolidated net profit

103、 for the periodCurrency translation differences775Change due to remeasurements of net pension provisionsOther changes171Balance as of June 30,20221,2183,522231348Balance as of January 1,20231,1993,543583573Adjustment1Balance as of January 1,2023,adjusted1,1993,543583573DividendTransactions with nonc

104、ontrolling interests000Changes in noncontrolling interests due to changes in consolidated groupCapital increase/decrease836Total comprehensive incomeConsolidated net profit for the periodCurrency translation differences277Change due to remeasurements of net pension provisionsOther changes44Balance a

105、s of June 30,20231,1913,579627850Statement of changes in equitycontinued on page 2019Interim Group Management ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 2023JANUARY 1 TO JUNE 30mRetainedearningsEquity attributable to Deutsche Post AG shareholdersNon-controllingi

106、nterestsTotalequityBalance as of January 1,202215,01319,03746219,499Dividend2,2052,205302,235Transactions with noncontrolling interests7707Changes in noncontrolling interests due to changes in consolidated group01111Capital increase/decrease74676307632,961192,980Total comprehensive incomeConsolidate

107、d net profit for the period2,8042,8041892,993Currency translation differences77520795Change due to remeasurements of net pension provisions2,1852,18502,185Other changes0160165,7802095,989Balance as of June 30,202217,05821,85665222,508Balance as of January 1,202319,01223,23646723,703Adjustment11515Ba

108、lance as of January 1,2023,adjusted19,01223,23648223,718Dividend2,2052,205202,225Transactions with noncontrolling interests5505Changes in noncontrolling interests due to changes in consolidated group000Capital increase/decrease48745914582,669192,688Total comprehensive incomeConsolidated net profit f

109、or the period1,8891,8891312,020Currency translation differences27725302Change due to remeasurements of net pension provisions1991994203Other changes00001,4131021,515Balance as of June 30,202318,00521,98056522,5451 Prior-year figures adjusted,note 4.20Interim Group Management ReportCondensed Consolid

110、ated Interim Financial StatementsContactHalf-year Report 2023SELECTED EXPLANATORY NOTESCompany informationDeutsche Post AG is a listed corporation domiciled in Bonn,Germany.The condensed consolidated interim financial statements of Deutsche Post AG and its subsidiaries cover the period from January

111、1 to June 30,2023,and have been reviewed.Basis of preparation1 Basis of accountingThe condensed consolidated interim financial statements as of June 30,2023,were prepared in compliance with International Financial Reporting Standards(IFRSs)and the related Interpretations of the International Account

112、ing Standards Board(IASB)for interim financial reporting as adopted in the European Union as of the reporting date.These interim financial statements thus include all information and disclosures required by IFRSs to be presented in condensed interim financial statements.Preparation of the condensed

113、consolidated interim financial statements in accordance with IAS 34 requires the Board of Manage-ment to exercise judgement and make estimates and assumptions that affect the application of accounting policies in the Group and the presentation of assets,liabilities,income and expenses.Actual amounts

114、 may differ from these estimates.The accounting policies applied to the condensed consolidated interim financial statements generally derive from the same accounting policies as used in the preparation of the consolidated financial statements for the 2022 fiscal year.Exceptions are the new or revise

115、d International Financial Reporting Standards(IFRSs)required to be applied for the first time in financial year 2023 that,however,have not had a material influence on the consolidated interim financial statements.Detailed explanations of these can be found in the 2022 Annual Report in note 5 to the

116、consolidated financial statements.The income tax expense for the reporting period was deferred on the basis of the tax rate expected to apply to the full fiscal year.The effective tax rate for 2023 increased compared with the first half of 2022 by 1.0%to 30.0%,primarily because the recognition of ad

117、ditional tax assets on tax loss carryforwards and temporary differences is expected to be smaller than in the previous year.Changes to parameters For DHL Group,the changes to parameters relate primarily to exchange rate changes for the most important currencies for the Group as well as to interest r

118、ates for the determination of the present value of pension obligations.The changes are as follows:EXCHANGE RATES FOR SIGNIFICANT CURRENCIESEUR 1=Closing ratesAverage ratesCurrencyCountryDec.31,2022June 30,2023H1 2022H1 2023AUDAustralia1.57231.63921.51531.6177CNYChina7.38237.90437.05777.5541GBPUnited

119、 Kingdom0.88660.85850.84400.8735HKDHong Kong8.33178.50628.49588.4766INRIndia88.294789.119383.002788.8511JPYJapan140.8789157.0845134.8841147.8897SEKSweden11.100511.807910.492411.4158USDUnited States1.06861.08541.08511.080821Interim Group Management ReportCondensed Consolidated Interim Financial State

120、mentsContactHalf-year Report 2023The following discount rates were used to determine the present value of the pension obligations:DISCOUNT RATE FOR THE PRESENT VALUE OF PENSION OBLIGATIONS%Dec.31,2022June 30,2023Germany4.003.80United Kingdom4.905.30Other3.893.75Total4.234.202 Consolidated groupThe n

121、umber of companies consolidated with Deutsche Post AG is shown in the following table:CONSOLIDATED GROUPDec.31,2022June 30,2023Number of fully consolidated companies(subsidiaries)German8384Foreign711698Number of joint operationsGerman11Foreign00Number of investments accounted for using the equity me

122、thodGerman11Foreign1617The changes are primarily the result of mergers and liquidations of immaterial companies.No material business combinations were carried out in the first half of 2023.Monta GroupDHL Supply Chain acquired a majority holding of 51%in the Netherlands-based e-commerce specialist Mo

123、nta Group and its around 20 companies on October 31,2022.The companies are consolidated in consideration of noncontrolling interests.Due to this partnership,DHL Group can better respond to the specific needs of SMEs and smaller web shops,see 2022 Annual Report,note 2 to the consolidated financial st

124、atements.The purchase price allocation was finalized on June 30,2023,and resulted in non-tax-deductible goodwill of 76 million,which is allocated to the Supply Chain segment.It is mainly attributable to the syner-gies and network effects expected from the e-commerce market in the Netherlands.There i

125、s also a call option to purchase the remaining 49%of shares that can be exercised at any time.The option is measured as a derivative at fair value through profit or loss.The customer relationships are amortized over a period of ten years and the brand name over a period of five years.The software ha

126、s a useful life of five years.Current assets include trade receivables of 16 million.There was no difference between the gross amount and the carrying amount.22Interim Group Management ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 2023OPENING BALANCE OF MONTAmOctob

127、er 31,2022Carrying amountAdjustmentFair valueNoncurrent assets6241103Software18Customer relationships17Brand name6Current assets1818Cash and cash equivalents33ASSETS8341124Noncurrent provisions and liabilities511061Deferred taxes10Current provisions and liabilities3131EQUITY AND LIABILITIES821092Net

128、 assets13132Purchase price paid in cash1030103Difference1023171Less fair value of the option1010Noncontrolling interests01515Goodwill921676There were no material derecognition or deconsolidation effects in the first half of 2023.3 Significant transactionsShare buyback of up to 3 billionThe share buy

129、back program resolved by the Board of Management in February 2022 was expanded by resolution of the Board of Management on February 14,2023,so that a total of up to 105 million treasury shares are to be purchased at a price of now up to 3 billion through the end of 2024.The purposes remain unaffecte

130、d.This means that the repurchased shares will either be retired,used to service long-term executive remuneration plans and any future employee participation programs or used to meet potential obligations if rights accruing under the 2017/2025 convertible bond are exercised.For the first two tranches

131、,the share buyback program 2022/2024 was carried out on the basis of the authorization of the Annual General Meeting of the com-pany on May 6,2021,which is valid until May 5,2026.The third tranche,beginning on June 26,2023,will be carried out on the basis of the authorization of the Annual General M

132、eeting of the company on May 4,2023,note 14.4 Adjustment of prior-period amountsWith the purchase price allocation of Hillebrand Group finalized on December 31,2022,2022 Annual Report,note 2 to the con-solidated financial statements,primarily intangible assets were identified that are to be amortize

133、d on a straight-line basis accord-ing to their useful life.This amortization was accounted for retroactively in the income statement for the first half of 2022.23Interim Group Management ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 2023INCOME STATEMENTmH1 2022Amou

134、ntAdjustmentAdjustedamountDepreciation,amortization and impairment losses2,018102,028Other operating expenses2,56512,566Profit from operating activities(EBIT)4,496114,485Profit before income taxes4,227114,216Income taxes1,22631,223Consolidated net profit for the period3,00182,993attributable to Deut

135、sche Post AG shareholders2,81282,804Basic earnings per share()2.300.012.29Q2 2022Depreciation,amortization and impairment losses1,009101,019Other operating expenses1,35511,356Profit from operating activities(EBIT)2,337112,326Profit before income taxes2,191112,180Income taxes6363633Consolidated net p

136、rofit for the period1,55581,547attributable to Deutsche Post AG shareholders1,46181,453Basic earnings per share()1.200.011.19With the final purchase price allocation for Monta Group,adjustments were also made to the balance sheet items specified below,that were accounted for in the opening balance a

137、nd led to a corresponding adjusted presentation in the balance sheet as of December 31,2022.BALANCE SHEETmDecember 31,2022AmountAdjustmentAdjustedamountIntangible assets14,0962514,121Noncontrolling interests46715482Deferred tax liabilities3361034624Interim Group Management ReportCondensed Consolidat

138、ed Interim Financial StatementsContactHalf-year Report 2023Income statement disclosures5 Revenue by business unitmH1 2022H1 2023Express13,08412,126Global Forwarding,Freight14,8149,701Global Forwarding12,6997,587Freight2,1152,114Supply Chain7,8498,273eCommerce2,8882,944Post&Parcel Germany7,9727,951Po

139、st Germany3,9473,722Parcel Germany3,0403,204International920958Other6567Group Functions(including consolidation)1517Total46,62241,0126 Other operating incomemH1 2022H1 2023Income from currency translation300278Insurance income169205Income from the remeasurement of liabilities160156Operating lease in

140、come72105Income from the reversal of provisions5497Income from fees and reimbursements6157Income from the disposal of assets9932Miscellaneous other operating income418369Total1,3331,299The change in income from currency translation results from the volatility on the currency markets.This income is o

141、ffset by corresponding expenses.Miscellaneous other operating income includes a large number of smaller individual items.25Interim Group Management ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 20237 Changes in inventories and work performed and capitalizedmH1 2022

142、H1 2023Changes in inventories income(+)/expense()3080Work performed and capitalized150103Total180183Changes in inventories relate primarily to real estate development projects.The change in work performed and capitalized is in conjunction with the discontinuation of production of the StreetScooter v

143、ehicles in the 2022 fiscal year.8 Depreciation,amortization and impairment lossesmH1 20221H1 2023Amortization of and impairment losses on intangible assets,of which impairment loss:0(previous year:0)106123Depreciation of and impairment losses on property,plant and equipment acquired,of which impairm

144、ent losses:1(previous year:18)872928Depreciation of and impairment losses on right-of-use assets,of which impairment losses:1(previous year:17)1,0501,104Impairment of goodwill00Total2,0282,1551 Prior-year figures adjusted,note 4.Of the impairment losses from the previous year,31 million related to w

145、rite-downs of assets of Russian companies,2022 Annual Report,notes 3,12 and 16 to the consolidated financial statements.IMPAIRMENT LOSSESmH1 2022H1 2023ExpressAcquired property,plant and equipment120Right-of-use assets120Global Forwarding,FreightAcquired property,plant and equipment20Right-of-use as

146、sets50Supply ChainAcquired property,plant and equipment41Right-of-use assets01Total35226Interim Group Management ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 20239 Other operating expensesmH1 20221H1 2023Cost of purchased cleaning and security services312332Curren

147、cy translation expenses280265Warranty expenses,refunds and compensation payments244257Other business taxes193177Travel and training costs152167Expenses for advertising and public relations148158Insurance costs133155Telecommunication costs115116Office and retail outlet expenses107110Customs clearance

148、-related charges10896Entertainment and corporate hospitality expenses7895Miscellaneous other operating expenses696674Total2,5662,6021 Prior-year figures adjusted,note 4.The change in currency translation expenses results from the volatility on the currency markets.These expenses are offset by corres

149、ponding income.Miscellaneous other operating expenses include a large number of smaller individual items.10 Net income from investments accounted for using the equity methodThe increase in results primarily relates to 18 million from the Israeli company Global-E Online Ltd.In the first half of 2023,

150、share dilutions and the ongoing valuation resulted in total income of 8 million in conjunction with a capital increase at this company.11 Earnings per shareBasic earnings per share in the reporting period were 1.58(previous year adjusted:2.29).BASIC EARNINGS PER SHAREH1 20221H1 2023Consolidated net

151、profit for the period attributable to Deutsche Post AG shareholdersm2,8041,889Weighted average number of shares outstandingnumber1,222,497,9621,193,088,223Basic earnings per share2.291.581 Prior-year figures adjusted,note 4.27Interim Group Management ReportCondensed Consolidated Interim Financial St

152、atementsContactHalf-year Report 2023Diluted earnings per share in the reporting period were 1.55(previous year:2.25).DILUTED EARNINGS PER SHAREH1 20221H1 2023Consolidated net profit for the period attributable to Deutsche Post AG shareholdersm2,8041,889Plus interest expense on the convertible bondm4

153、4Less income taxes2m00Adjusted consolidated net profit for the period attributable to Deutsche Post AG shareholdersm2,8081,893Weighted average number of shares outstandingnumber1,222,497,9621,193,088,223Potentially dilutive sharesnumber26,371,23325,885,299Weighted average number of shares for dilute

154、d earningsnumber1,248,869,1951,218,973,522Diluted earnings per share2.251.551 Prior-year figures adjusted,note 4.2 Rounded below 1 million.Balance sheet disclosures12 Intangible assets and property,plant and equipmentInvestments in intangible assets(not including goodwill),property,plant and equipme

155、nt acquired and right-of-use assets amounted to 2,523 million in the first half of 2023(previous year:2,885 million).CAPITAL EXPENDITURES AND PROJECTSmJune 30,2022June 30,2023Intangible assets(not including goodwill)121135Acquired property,plant and equipmentLand and buildings11764Technical equipmen

156、t and machinery6889Transport equipment101112Aircraft4784IT equipment2633Operating and office equipment2931Advance payments and assets under development8537291,2411,142Right-of-use assetsLand and buildings943881Technical equipment and machinery1816Transport equipment166192Aircraft388116Advance paymen

157、ts8411,5231,246Total2,8852,52328Interim Group Management ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 2023Goodwill changed as follows:CHANGE IN GOODWILLm20222023CostBalance as of January 112,41813,775Additions from business combinations11,3502Disposals40Currency t

158、ranslation differences1199Balance as of December 31/June 30113,77513,678Amortization and impairment lossesBalance as of January 11,0651,061Disposals00Impairment losses00Currency translation differences42Balance as of December 31/June 301,0611,063Carrying amount as of December 31/June 30112,71412,615

159、1 Prior-year figures adjusted,note 4.In the previous year,additions to goodwill were attributable primarily to the acquisitions of Hillebrand,Cameron and Monta Group.For the adjusted prior-year figures,see note 4.13 Financial assetsNoncurrentCurrentTotalmDec.31,2022June 30,2023Dec.31,2022June 30,202

160、3Dec.31,2022June 30,2023Assets measured at cost7888161,2723592,0601,175Assets at fair value through other comprehensive income6562006562Assets at fair value through profit or loss3633228387446409Financial assets1,2161,2001,3554462,5711,646The reduction in assets measured at cost relates to the liqui

161、dation of short-term investments.Net impairments for the first half of 2023 amounted to income of 12 million(previous year:expenses of 67 million).14 Issued capital and purchase of treasury sharesAs of June 30,2023,KfW Bankengruppe(KfW)held a 20.5%interest in the share capital of Deutsche Post AG.Fr

162、ee float accounts for 75.7%of the shares and the remaining 3.8%of shares are owned by Deutsche Post AG.The issued capital is composed of 1,239,059,409 no-par-value registered shares(ordinary shares)with a notional interest in the share capital of 1 per share and is fully paid up.29Interim Group Mana

163、gement ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 2023CHANGES IN ISSUED CAPITAL AND TREASURY SHARESm20222023Issued capitalBalance as of January 11,2391,239Balance as of December 31/June 301,2391,239Treasury sharesBalance as of January 11540Purchase of treasury s

164、hares309Issue/sale of treasury shares51Balance as of December 31/June 304048Total as of December 31/June 301,1991,191Share buyback program 2022/2024The third tranche of the share buyback program 2022/2024 began on June 26,2023.The buyback will be carried out through October 31,2023,on the basis of a

165、n irrevocable agreement by an independent financial services provider.With the share buyback program 2022/2024,a total of up to 105 million treasury shares are to be purchased at a price of now up to 3 billion through the end of 2024.TRANCHES OF THE SHARE BUYBACK PROGRAM 2022/2024Total volumemMaximu

166、m durationNumber of buybackBuyback volume mTranche I800April 8,2022November 7,202221,931,589790Tranche II500November 9,2022March 31,202312,870,144500Tranche III500June 26,2023October 31,2023616,957127Total35,418,69011,31711 As of the reporting date on June 30,2023.A total of 6.8 million shares were

167、acquired at cost in the amount of 275 million and a corresponding average price per share of 40.20 in the 2023 fiscal year for tranche II.As of June 30,2023,0.6 million shares had been bought back as part of tranche III of the share buyback program for a total of 27 million,at an average purchase pr

168、ice of 43.25 per share.The shares bought back can be used for the purposes specified under note 3.Share Matching ProgramIn the first half of 2023,1.5 million treasury shares were also acquired for a total of 62 million at an average purchase price of 41.30 per share and issued to executives to settl

169、e the 2022 SMS tranche and claims to matching shares under the 2018 tranche.Deutsche Post AG held 47,613,014 treasury shares as of June 30,2023.30Interim Group Management ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 202315 ReservesCAPITAL RESERVESm20222023Balance

170、as of January 13,5333,543Change due to Share Matching Scheme820Change due to Performance Share Plan314Change due to Employee Share Plan12Balance as of December 31/June 303,5433,579Retained earningsRetained earnings mainly include changes due to capital increases or reductions:CAPITAL INCREASE/DECREA

171、SEmDec.31,2022June 30,2023Share buyback obligation 2022/2024 under tranche III0473Share buyback 2022/2024 under tranche III026Share buyback obligation 2022 under tranche II275275Share buyback 2022 under tranches I and II987268Change due to Share Matching Scheme391Change due to Performance Share Plan

172、230Change due to Employee Share Plan166Other112Total1,195487The third tranche of the share buyback program 2022/2024,with a total volume of up to 500 million,began on June 26,2023,and is being implemented by an independent financial services provider until October 31,2023,on the basis of an irrevoca

173、ble agreement.At the time the agreement was concluded,the resulting obligation was charged in full to retained earnings and recognized as a financial liability.It was reduced by the buyback transactions carried out by June 30,2023.The obligation to repurchase shares after June 30,2023,is included in

174、 the amount of 473 million.31Interim Group Management ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 2023Segment reporting16 Segment reporting SEGMENTS BY DIVISIONmExpressGlobal Forwarding,FreightSupply ChaineCommerceJanuary 1 to June 3020222023202212023202212023202

175、22023External revenue13,08412,12614,8149,7017,8498,2732,8882,944Internal revenue28227770162235666969Total revenue13,36612,40315,51510,3237,8848,3392,9573,013Profit from operating activities(EBIT)2,0721,8041,336777449499211159of which net income from investments accounted for using the equity method2

176、1003300Segment assets220,74820,09913,15811,69310,08810,3372,5932,668of which investments accounted for using the equity method8819189409Segment liabilities25,4374,5685,1574,2994,0033,668896802Net segment assets/liabilities215,31115,5318,0017,3946,0856,6691,6971,866Capital expenditure(assets acquired

177、)3754246480214210125158Capital expenditure(right-of-use assets)7403911251223793126380Total capital expenditure1,115815189202593522188238Depreciation and amortization81286014316240446097105Impairment losses240704200Total depreciation,amortization and impairment losses83686015016240846297105Other nonc

178、ash expenses(+)and income()195237641916383111Employees3113,674112,37845,71346,991176,503181,72031,39332,287Second quarterExternal revenue6,8485,9917,7984,5404,0534,2011,4771,474Internal revenue14513135829916313534Total revenue6,9936,1228,1564,8394,0694,2321,5121,508Profit from operating activities(E

179、BIT)1,10190173538824427210978of which net income from investments accounted for using the equity method11002000Capital expenditure(assets acquired)22724233371029873116Capital expenditure(right-of-use assets)28324159681971791643Total capital expenditure5104839210529927789159Depreciation and amortizat

180、ion41343580822052315053Impairment losses00100200Total depreciation,amortization and impairment losses41343581822052335053Other noncash expenses(+)and income()601061953693353Segments by divisioncontinued on page 33 32Interim Group Management ReportCondensed Consolidated Interim Financial StatementsCo

181、ntactHalf-year Report 2023SEGMENTS BY DIVISIONmPost&ParcelGermanyGroup FunctionsConsolidation4GroupJanuary 1 to June 30202220232022202320222023202212023External revenue7,9727,95115160146,62241,012Internal revenue2362438891,0012,2122,27800Total revenue8,2088,1949041,0172,2122,27746,62241,012Profit fr

182、om operating activities(EBIT)597261179171124,4853,331of which net income from investments accounted for using the equity method00141400912Segment assets27,7277,6735,7955,957646360,04558,364of which investments accounted for using the equity method004054007693Segment liabilities22,6732,6171,7721,7275

183、55119,88317,630Net segment assets/liabilities25,0545,0564,0234,23091240,16240,734Capital expenditure(assets acquired)434278150127001,3621,277Capital expenditure(right-of-use assets)107206334001,5231,246Total capital expenditure444285356461002,8852,523Depreciation and amortization167173370393001,9932

184、,153Impairment losses000000352Total depreciation,amortization and impairment losses167173370393002,0282,155Other noncash expenses(+)and income()140901125110686441Employees3157,953158,32413,23613,98411538,473545,685Second quarterExternal revenue3,8473,8737151024,02920,094Internal revenue1161234564991

185、,1261,11700Total revenue3,9633,9964635141,1271,11724,02920,094Profit from operating activities(EBIT)24212310469102,3261,693of which net income from investments accounted for using the equity method00101100712Capital expenditure(assets acquired)2611551026000798708Capital expenditure(right-of-use asse

186、ts)3512525300683789Total capital expenditure264160227313001,4811,497Depreciation and amortization8383187198001,0181,082Impairment losses00000012Total depreciation,amortization and impairment losses8383187198001,0191,084Other noncash expenses(+)and income()65546715002851521 Prior-year figures adjuste

187、d,note 4.2 As of December 31,2022,and June 30,2023.3 Average FTEs.4 Including rounding.33Interim Group Management ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 2023INFORMATION ABOUT GEOGRAPHICAL REGIONSmGermanyEurope(excluding Germany)AmericasAsia PacificMiddle Eas

188、t/AfricaGroupJanuary 1 to June 3020222023202212023202220232022202320222023202212023External revenue10,72210,35613,73012,46211,0238,9839,0937,3712,0541,84046,62241,012Noncurrent assets212,48512,61213,08613,26310,78110,7295,9855,73072068043,05743,014Total capital expenditure892880850676700579353288901

189、002,8852,523Second quarterExternal revenue5,2525,0277,0746,0775,8264,4464,8053,6431,07290124,02920,094Total capital expenditure55154141836331138916015141531,4811,4971 Prior-year figures adjusted,note 4.2 As of December 31,2022,and June 30,2023.RECONCILIATIONmH1 20221H1 2023Total income of reported s

190、egments4,6653,500Group Functions179171Reconciliation to Group/Consolidation12Profit from operating activities(EBIT)4,4853,331Net finance costs269445Profit before income taxes4,2162,886Income taxes1,223866Consolidated net profit for the period2,9932,0201 Prior-year figures adjusted,note 4.34Interim G

191、roup Management ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 202317 Disclosures on financial instrumentsFINANCIAL ASSETS AND LIABILITIESmMeasurementcategoryunder IFRS 9Carrying amountIFRS 7 Fair valueLevel 11Level 22Level 33June 30,2023 ASSETSCash and cash equival

192、entsAC43,286n.a.Trade receivablesAC10,611n.a.Other debt instruments71,290555307248AC983248248FVTPL5307307307Equity instruments63633231FVTPL111FVTOCI662623131Derivatives1011017922Derivatives in a hedging relationshipn.a.333333Derivatives not in a hedging relationshipFVTPL68684622Lease receivablesAC74

193、0740n.a.n.a.n.a.Total ASSETS16,0911,45933935822EQUITY AND LIABILITIESTrade payablesAC7,982n.a.Other debt instruments78,8436,4225,767655AC8,8436,4225,767655Derivatives105105105Derivatives in a hedging relationshipn.a.242424Derivatives not in a hedging relationshipFVTPL818181Lease liabilitiesAC13,492n

194、.a.n.a.n.a.n.a.Total EQUITY AND LIABILITIES30,4226,5275,767760Financial assets and liabilitiescontinued on page 36 35Interim Group Management ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 2023FINANCIAL ASSETS AND LIABILITIESmMeasurementcategoryunder IFRS 9Carrying

195、amountIFRS 7 Fair valueLevel 11Level 22Level 33December 31,2022ASSETSCash and cash equivalentsAC3,790n.a.Trade receivablesAC12,253n.a.Other debt instruments72,129547284263AC1,845263263FVTPL284284284Equity instruments66665610FVTPL111FVTOCI65655510Derivatives16116112833Derivatives in a hedging relatio

196、nshipn.a.919191Derivatives not in a hedging relationshipFVTPL70703733Lease receivablesn.a.691691n.a.n.a.n.a.Total ASSETS19,0901,46534040133EQUITY AND LIABILITIESTrade payablesAC9,933n.a.Other debt instruments78,6025,9185,233685AC8,6025,9185,233685Derivatives134134134Derivatives in a hedging relation

197、shipn.a.111111Derivatives not in a hedging relationshipFVTPL123123123Lease liabilitiesn.a.13,514n.a.n.a.n.a.n.a.Total EQUITY AND LIABILITIES32,1836,0525,2338191 Quoted market prices.2 Inputs other than quoted prices that are directly or indirectly observable for instruments.3 Inputs not based upon o

198、bservable market data.4 AC:at amortized cost.5 FVTPL:at fair value through profit or loss.6 FVTOCI:at fair value through other comprehensive income.7 Other debt instruments include current carrying amounts for which,in accordance with IFRS 7.29a,the fair value does not have to be indicated.The table

199、 above presents the carrying amounts and the fair values of the individual financial assets and liabilities for each indi-vidual class in consideration of the respective measurement category under IFRS 9.Depending on the classification,the financial instruments are either recognized at amortized cos

200、t or at fair value as part of the subsequent measurement.The fair values are indicated per class of financial instrument.No distinction is made according to maturity.The fair values are not listed for trade receivables and payables,cash and cash equivalents and other current debt instruments;the sim

201、plification rule of IFRS 7.29a has been applied.The carrying amounts of the current financial assets and liabilities mentioned correspond approximately to their fair values.The fair values are reconciled to the fair value categories(level 1 to 3).Level 1 comprises equity and debt instruments measure

202、d at fair value and debt instruments measured at amortized cost whose fair values can be determined based on quoted market prices.36Interim Group Management ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 2023The fair values of financial assets measured at amortized

203、cost and commodity,interest rate and currency derivatives that fall under level 2 are measured on the basis of the multiplier method,or on the basis of discounted expected future cash flows,tak-ing into account forward rates for currencies,interest rates and commodities(market approach).For this pur

204、pose,price quota-tions observable in the market(exchange rates,interest rates and commodity prices)are imported from standard market infor-mation platforms into the treasury management system.The price quotations reflect actual transactions involving similar instruments on an active market.Level 3 i

205、ncludes fair values of financial instruments that relate to an M&A transaction and a commercial supply and service con-tract.They are measured using recognized valuation models,taking plausible assumptions into account.The fair values of the financial instruments largely depend on financial figures.

206、Compared with December 31,2022,equity instruments recognized in profit or loss changed from 33 million to 22 million,resulting in a loss in the amount of 11 million reported in net financial income for the first half of 2023.18 Contingent liabilities and other financial obligationsWhile contingent l

207、iabilities increased slightly compared with December 31,2022,the purchase obligation decreased with the capitalization of the delivered cargo aircraft.19 Related-party disclosuresOn May 4,2023,Dr.Tobias Meyer succeeded Dr.Frank Appel as CEO.There were no other material changes with regard to related

208、 parties compared with December 31,2022.20 Events after the reporting date/other disclosuresOn June 26,2023,Deutsche Post AG placed its first sustainability-linked bond.The cash inflow and the liability were recognized on July 3,2023.The bond has an issue volume of 500 million and a ten-year term en

209、ding on July 3,2033.The bond has a fixed coupon of 3.375%per year.The revenue will primarily be used for general company purposes,including the refinancing of exist-ing financial liabilities.At the end of July 2023,DHL Group signed an agreement to acquire 100%of shares in the Turkish company MNG Kar

210、go and its subsidiaries.MNG Kargo is one of the leading parcel carriers in Turkey and has a strong presence in the e-commerce segment.The acquisition complements the business portfolio of DHL Group and will contribute to the company being able to benefit from growth potential in the Turkish market a

211、nd continuing to strengthen its position in Turkey and in European markets.MNG Kargo will be allocated to DHL eCommerce.The purchase price will be approximately 300 million.The transaction is still subject to the approval of the Turkish authorities.There were no other significant reportable events a

212、fter the reporting date.37Interim Group Management ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 2023RESPONSIBILITY STATEMENTTo the best of our knowledge,and in accordance with the applicable reporting principles for interim financial reporting,the con-densed conso

213、lidated financial statements give a true and fair view of the assets,liabilities,financial position and profit or loss of the Group,and the Interim Group Management Report includes a fair review of the development and performance of the busi-ness and the position of the Group,together with a descrip

214、tion of the principal opportunities and risks associated with the expected development of the Group for the remainder of the fiscal year.Bonn,July 31,2023Deutsche Post AG The Board of ManagementDr.Tobias Meyer Oscar de BokPablo Ciano Nikola HagleitnerMelanie Kreis Dr.Thomas OgilvieJohn Pearson Tim S

215、charwath38Interim Group Management ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 2023REVIEW REPORT To Deutsche Post AG,BonnWe have reviewed the condensed interim consolidated financial statements of Deutsche Post AG,Bonn,which comprise the consolidated statement of

216、 profit and loss and the consolidated statement of comprehensive income for the period from 1 January to 30 June 2023,the consolidated balance sheet as at 30 June 2023,the consolidated statement of cash flows,the consolidated statement of changes in equity as well as selected explanatory notes to th

217、e consolidated financial statements,and the interim group management report for the period from 1 January to 30 June 2023,that are part of the half-year financial information under Section 115 German Securities Trading Act(WpHG).The preparation of the interim consolidated financial statements in acc

218、ordance with the International Financial Reporting Standards(IFRS)applicable to interim financial reporting as adopted by the EU and of the interim group management report in accordance with the requirements of the WpHG applicable to interim group management reports is the responsibility of the exec

219、utive directors of the Company.Our responsibility is to issue a review report on the interim consolidated financial statements and on the interim group management report based on our review.We conducted our review of the condensed interim consolidated financial statements and of the interim group ma

220、nagement report in compliance with the German Generally Accepted Standards for Reviews of Financial Statements promulgated by the Institut der Wirtschaftsprfer(IDW)and in supplementary compliance with the International Standard on Review Engagements 2410“Review of Interim Financial Information Perfo

221、rmed by the Independent Auditor of the Entity”.Those standards require that we plan and perform the review to obtain a certain level of assurance to preclude through critical evaluation that the interim consolidated financial statements have not been prepared,in material respects,in accordance with

222、the IFRS applicable to interim financial reporting as adopted by the EU,or that the interim group management report has not been prepared,in material respects,in accordance with the requirements of the WpHG applicable to interim group management reports.A review is limited primarily to inquiries of

223、company personnel and to analytical procedures applied to financial data and thus provides less assurance than an audit.Since,in accordance with our engagement,we have not performed an audit,we do not express an audit opinion.Based on our review,nothing has come to our attention that causes us to be

224、lieve that the condensed interim consolidated financial statements of Deutsche Post AG,Bonn,have not been prepared,in material respects,in accordance with the IFRS applicable to interim financial reporting as adopted by the EU or that the interim group management report has not been prepared,in mate

225、rial respects,in accordance with the requirements of the WpHG applicable to interim group management reports.Munich,31 July 2023Deloitte GmbHWirtschaftsprfungsgesellschaftProf.Dr.Frank Beine Dr.Hendrik NardmannWirtschaftsprfer Wirtschaftsprfer(German Public Auditor)(German Public Auditor)39Interim G

226、roup Management ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 2023FINANCIAL CALENDAR2023November 8 Results of the first nine months of 20232024March 6 Results of financial year 2023May 3 2024 Annual General MeetingMay 7 Results of the first quarter of 2024May 8 Div

227、idend paymentAugust 1 Results of the first half of 2024November 5 Results of the first nine months of 2024Revised dates and information regarding live webcasts can be found on our Reporting Hub.CONTACTDeutsche Post AGHeadquarters 53250 Bonn GermanyInvestor RPress OPublicationPublished on August 1,20

228、23.The English version of the 2023 Half-year Report of DHL Group constitutes a translation of the original German version.Only the German version is legally binding,insofar as this does not conflict with legal provisions in other countries.Deutsche Post Corporate Language Services et al.Forward-look

229、ing statementsThis interim report contains forward-looking statements which are not historical facts.They also include statements concerning assumptions and expectations which are based upon current plans,estimates and projections,and the information available to Deutsche Post AG at the time this re

230、port was completed.They should not be considered to be assurances of future performance and results contained therein.Instead,they depend on a number of factors and are subject to various risks and uncertainties(particularly those described in the“Expected developments,opportunities and risks”sectio

231、n)and are based on assumptions that may prove to be inaccurate.It is possible that actual performance and results may differ from the forward-looking statements made in this report.Deutsche Post AG undertakes no obligation to update the forward-looking statements contained in this report except as r

232、equired by applicable law.If Deutsche Post AG updates one or more forward-looking statements,no assumption can be made that the statement(s)in question or other forward-looking statements will be updated regularly.40Interim Group Management ReportCondensed Consolidated Interim Financial StatementsContactHalf-year Report 2023