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1、 Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Calendar/Contact 01 2024 Half-year Report 2024 HALF-YEAR REPORT Interim Group Management Report 1 INTERIM GROUP MANAGEMENT REPORT 16 Cash flow statement 1 General information 17 Statement of changes in equ

2、ity 2 Report on economic position 18 Selected explanatory notes 11 Expected developments,opportunities and risks 39 Responsibility statement 40 Review report 13 CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 13 Income statement 41 FINANCIAL CALENDAR 14 Statement of comprehensive income 15 Balan

3、ce sheet 41 CONTACT SELECTED KEY FIGURES SELECTED KEY FIGURES H1 2023 H1 2024+/%Q2 2023 Q2 2024+/%Revenue m 41,012 40,890 0.3 20,094 20,639 2.7 Profit from operating activities(EBIT)m 3,331 2,662 20.1 1,693 1,351 20.2 Return on sales1%8.1 6.5 8.4 6.5 EBIT after asset charge(EAC)m 1,607 830 48.4 828

4、428 48.3 Consolidated net profit for the period2 m 1,889 1,484 21.4 978 744 23.9 Free cash flow m 1,433 952 33.6 450 344 23.6 Net debt3 m 17,739 19,885 12.1 Earnings per share4 1.58 1.27 19.6 0.82 0.64 22.0 Number of employees5 586,404 591,172 0.8 1 EBIT/revenue.2 After deduction of noncontrolling i

5、nterests.3 Prior-year figure as of December 31.4 Basic earnings per share.5 Headcount at the end of the quarter,including trainees.GENERAL INFORMATION Organizational changes No material changes were made to the Groups organizational structure during the reporting period.In June 2024,the mandate of T

6、im Scharwath as a member of the Board of Management and his contract were renewed until May 2030.Research and development As 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 connectio

7、n.Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Calendar/Contact 02 2024 Half-year Report REPORT ON ECONOMIC POSITION Economic parameters The following data describing the general economic parameters of the global economy stem from S&P Global Market In

8、telligence(S&P Global).The modestly increasing global growth momentum at the beginning of 2024 leveled off again in the second quarter.Geopolitical instability induced by wars,tensions between Western countries and China and the fragmentation of Europes political landscape is restraining trade,inves

9、tment activity and consumer confidence in many countries.The anticipated boost of purchasing power for consumer spending has so far primarily benefited the service sector,while the majority of industrial companies still report a weak inflow of new orders.In June,the European Central Bank cautiously

10、began to ease monetary policy,whereas the US Federal Reserve opted to wait,given the more robust US economy and higher core inflation than in Europe.In the end markets relevant for DHL Group,B2B volume development was negatively impacted by the development of customers inventories in addition to the

11、 general economic parameters.In contrast,B2C volumes in parcel business continued to prove resilient.This confirms the structural trend of a shift in consumption toward e-commerce even in a weaker economic environment.Significant events As part of the completed fourth tranche of the 20222025 share b

12、uyback program and the fifth tranche that has now begun,we repurchased a further 14.1 million shares with a value of 594 million in the first half of 2024.On March 25,2024,we issued a bond with a volume of 1 billion and a term through 2036.The proceeds will be used,among other things,to refinance ex

13、isting financial liabilities.By way of a resolution of the Board of Management dated May 2,2024,the issued capital was reduced by 39 million,and the corresponding shares were retired.The treasury shares had been acquired as part of the existing share buyback programs.This was entered in the commerci

14、al register on May 22,2024.Results of operations SELECTED INDICATORS FOR RESULTS OF OPERATIONS H1 2023 H1 2024 Q2 2023 Q2 2024 Revenue m 41,012 40,890 20,094 20,639 Profit from operating activities(EBIT)m 3,331 2,662 1,693 1,351 Return on sales1%8.1 6.5 8.4 6.5 EBIT after asset charge(EAC)m 1,607 83

15、0 828 428 Consolidated net profit for the period2 m 1,889 1,484 978 744 Earnings per share3 1.58 1.27 0.82 0.64 1 EBIT/revenue.2 After deduction of noncontrolling interests.3 Basic earnings per share.Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Calend

16、ar/Contact 03 2024 Half-year Report Changes to the portfolio The portfolio has not undergone any noteworthy changes.Group revenue at 41 billion At 40,890 million,Group revenue in the first half of 2024 almost reached the previous years level of 41,012 million.Negative currency effects reduced it by

17、137 million.The proportion of revenue generated abroad changed from 74.7%to 74.0%.In the second quarter of 2024,revenue rose from 20,094 million in the previous year to 20,639 million.This figure was also curtailed by negative currency effects in the amount of 28 million.At 1,232 million,other opera

18、ting income fell short of the prior-year period(1,299 million).This was mainly due to reduced income from currency translation.Higher staff costs due to wage and salary increases Material expense decreased by 386 million to 20,549 million,largely due to lower transport costs in the Global Forwarding

19、,Freight division.Wage and salary increases along with the increased number of employees raised staff costs from 13,483 million to 14,113 million.Depreciation,amortization and impairment losses were up by 165 million to 2,320 million.At 2,551 million,other operating expenses were below the prior-yea

20、r period(2,602 million).Lower expenses from currency translation reduced the total.Net income/expenses from investments accounted for using the equity method changed from 12 million in the previous year to 12 million in the reporting period.The prior-year figure primarily included income from the me

21、asurement of our equity investment in the Israeli company Global-E Online Ltd.Consolidated EBIT decreases by 20.1%In the first half of 2024,profit from operating activities(EBIT)declined by 669 million to 2,662 million.In the second quarter of 2024,it fell from 1,693 million to 1,351 million.At 370

22、million,net finance costs were improved compared with the previous year(445 million).This was primarily due to a positive foreign-currency result.Profit before income taxes fell by 594 million to 2,292 million.As a consequence,income taxes decreased by 178 million to 688 million.The tax rate was 30%

23、,as in the previous year.Consolidated net profit for the period falls in line with EBIT Consolidated net profit for the period decreased significantly in the first half of 2024 from 2,020 million to 1,604 million.Of this amount,1,484 million is attributable to Deutsche Post AG shareholders and 120 m

24、illion to noncontrolling interest holders.Earnings per share fell from 1.58 to 1.27(basic)and from 1.55 to 1.25(diluted).EBIT after asset charge(EAC)declines EAC declined from 1,607 million to 830 million in the first half of 2024,primarily due to the decrease in EBIT.The imputed asset charge rose s

25、lightly,primarily due to investments in property,plant and equipment in all divisions.EBIT AFTER ASSET CHARGE(EAC)m H1 2023 H1 2024+/%EBIT 3,331 2,662 20.1 Asset charge 1,724 1,832 6.3=EAC 1,607 830 48.4 Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Ca

26、lendar/Contact 04 2024 Half-year Report Divisions Express:continued yield and cost management Revenue in the Express division decreased by 1.4%to 12,226 million in the first half of 2024.This includes negative currency effects amounting to 90 million,as well as lower fuel surcharges.Excluding curren

27、cy effects and fuel surcharges,first-half revenue slightly exceeded the prior-year figure with a rise of 0.2%.The ongoing sluggish market development caused per-day revenues and shipment volumes in the TDI product line to fall.We continue to counter this trend by managing costs and optimizing networ

28、k capacity.We are responding to persistent inflation with general price increases combined with effective yield management.In the first half of 2024,EBIT in the Express division decreased by 27.1%to 1,315 million.The EBIT margin was 10.8%.In the second quarter of 2024,EBIT was 683 million,24.2%below

29、 the prior-year figure.KEY FIGURES,EXPRESS m H1 2023 H1 2024+/%Q2 2023 Q2 2024+/%Revenue 12,403 12,226 1.4 6,122 6,220 1.6 of which Europe 5,548 5,533 0.3 2,732 2,777 1.6 Americas 2,964 2,883 2.7 1,492 1,483 0.6 Asia Pacific 4,327 4,075 5.8 2,174 2,114 2.8 MEA(Middle East and Africa)757 729 3.7 378

30、368 2.6 Consolidation/Other 1,193 994 16.7 654 522 20.2 Profit from operating activities(EBIT)1,804 1,315 27.1 901 683 24.2 Return on sales(%)1 14.5 10.8 14.7 11.0 Operating cash flow 2,364 2,127 10.0 1,141 1,003 12.1 1 EBIT/revenue.EXPRESS:REVENUE BY PRODUCT m per day1 H1 2023 H1 2024+/%Q2 2023 Q2

31、2024+/%Time Definite International(TDI)76.7 74.5 2.9 77.7 76.6 1.4 Time Definite Domestic(TDD)6.2 6.3 1.6 6.2 6.4 3.2 1 To improve comparability,product revenues were translated at uniform exchange rates.These revenues are also the basis for the weighted calculation of working days.EXPRESS:VOLUME BY

32、 PRODUCT Items per day(thousands)H1 2023 H1 2024+/%Q2 2023 Q2 2024+/%Time Definite International(TDI)1,093 1,069 2.2 1,124 1,089 3.1 Time Definite Domestic(TDD)502 477 5.0 491 482 1.8 Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Calendar/Contact 05 20

33、24 Half-year Report Global Forwarding,Freight:drop in revenue due to lower freight rates Revenue in the Global Forwarding,Freight division decreased by 8.0%to 9,497 million in the first half of 2024 due to lower freight rates.Excluding negative currency effects of 60 million,revenue was down 7.4%on

34、the prior-year level.In the second quarter of 2024,revenue slightly exceeded the prior-year figure with a rise of 0.8%thanks to higher volumes and increasing freight rates.Revenue in the Global Forwarding business unit decreased by 10.5%to 6,914 million in the first half of 2024.Without taking negat

35、ive currency effects of 57 million into account,the decrease was 9.8%.Gross profit in the Global Forwarding business unit was down from the previous year by 13.6%to 1,707 million.Air freight volumes rose by 5.2%in the first half of 2024,with growth primarily on trade lanes between Asia and Europe.Ai

36、r freight revenues dropped by 7.1%and gross profit by 21.4%.In the second quarter of 2024,revenue was up 3.6%and gross profit down 16.9%on the prior-year level.Ocean freight volumes rose by 6.5%year on year in the first half,with growth particularly on trade lanes from Asia.First-half ocean freight

37、revenue dropped by 14.5%and gross profit by 21.5%.The second quarter of 2024 saw corresponding declines of 1.4%and 15.9%,respectively.Revenue in the Freight business unit decreased slightly in the first half of 2024 and was down 0.7%at 2,636 million.We saw a fall in volumes of 7.3%,which was partial

38、ly compensated for by price effects.Gross profit in this business unit fell by 4.1%to 662 million.In the second quarter of 2024,revenue rose by 2.1%,while gross profit fell by 3.7%.EBIT in the Global Forwarding,Freight division was down by 30.2%in the first half of 2024 to 542 million.The EBIT margi

39、n was 5.7%.EBIT in the division thus corresponds to 22.9%of gross profit and 28.3%for the Global Forwarding business unit.In the second quarter of 2024,EBIT in the division stood at 279 million.KEY FIGURES,GLOBAL FORWARDING,FREIGHT m H1 2023 H1 2024+/%Q2 2023 Q2 2024+/%Revenue 10,323 9,497 8.0 4,839

40、 4,880 0.8 of which Global Forwarding 7,728 6,914 10.5 3,570 3,581 0.3 Freight 2,654 2,636 0.7 1,298 1,325 2.1 Consolidation/Other 59 53 10.2 29 26 10.3 Profit from operating activities(EBIT)777 542 30.2 388 279 28.1 Return on sales(%)1 7.5 5.7 8.0 5.7 Operating cash flow 1,342 210 84.4 485 242 50.1

41、 1 EBIT/revenue.GLOBAL FORWARDING:REVENUE m H1 2023 H1 2024+/%Q2 2023 Q2 2024+/%Air freight 3,202 2,975 7.1 1,477 1,530 3.6 Ocean freight 3,172 2,711 14.5 1,429 1,409 1.4 Other 1,354 1,228 9.3 664 642 3.3 Total 7,728 6,914 10.5 3,570 3,581 0.3 Interim Group Management Report Condensed Consolidated I

42、nterim Financial Statements Financial Calendar/Contact 06 2024 Half-year Report GLOBAL FORWARDING:VOLUMES Thousands H1 2023 H1 2024+/%Q2 2023 Q2 2024+/%Air freight exports tons 829 872 5.2 415 437 5.3 Ocean freight TEU1 1,525 1,624 6.5 796 847 6.4 1 Twenty-foot equivalent units.Supply Chain:continue

43、d strong revenue and earnings trend in the first half Revenue in the Supply Chain division grew by 4.1%to 8,685 million in the first half of 2024.Excluding positive currency effects of 2 million,the increase was also 4.1%.New business,contract renewals and expanding e-commerce business contributed t

44、o higher revenue in almost all regions and sectors.A slight drop in revenue in the Asia Pacific region was due to negative currency effects.In the second quarter of 2024,revenue in the Supply Chain division rose by 2.8%to 4,352 million.Excluding positive currency effects of 5 million,the increase wa

45、s 2.7%.In the first half of 2024,the Supply Chain division concluded additional contracts with a volume of 5.0 billion.Alongside the Energy,Retail,and Life Sciences&Healthcare sectors,e-fulfilment solutions accounted for an important part of this.The contract renewal rate remained at a consistently

46、high level.EBIT in the Supply Chain division rose by 7.2%to 535 million in the first half of 2024.The EBIT margin for the first half of the year was 6.2%.In the second quarter of 2024,EBIT in the Supply Chain division stood at 279 million.KEY FIGURES,SUPPLY CHAIN m H1 2023 H1 2024+/%Q2 2023 Q2 2024+

47、/%Revenue 8,339 8,685 4.1 4,232 4,352 2.8 of which EMEA(Europe,Middle East and Africa)3,660 3,828 4.6 1,832 1,941 5.9 Americas 3,445 3,615 4.9 1,785 1,812 1.5 Asia Pacific 1,259 1,252 0.6 627 603 3.8 Consolidation/Other 25 10 60.0 12 4 66.7 Profit from operating activities(EBIT)499 535 7.2 272 279 2

48、.6 Return on sales(%)1 6.0 6.2 6.4 6.4 Operating cash flow 453 676 49.2 292 275 5.8 1 EBIT/revenue.Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Calendar/Contact 07 2024 Half-year Report eCommerce:revenue exceeds prior-year level The eCommerce division

49、 generated revenue of 3,300 million in the first half of 2024,up 9.5%on the prior-year level.This includes a revenue contribution of 160 million from the acquisition of MNG Kargo.Excluding positive currency effects of 15 million,revenue was 9.0%up on the prior-year level.In the second quarter of 202

50、4,revenue in the eCommerce division rose by 10.5%to 1,667 million.EBIT in the eCommerce division fell from 159 million to 125 million in the first half of 2024.This was attributable mainly to higher costs,which resulted partly from increased depreciation,amortization and impairment losses due to con

51、tinuous investment in the expansion of the networks.The EBIT margin for the first half of the year was 3.8%.EBIT in the eCommerce division stood at 67 million in the second quarter of 2024.KEY FIGURES,ECOMMERCE m H1 2023 H1 2024+/%Q2 2023 Q2 2024+/%Revenue 3,013 3,300 9.5 1,508 1,667 10.5 of which A

52、mericas 1,042 1,082 3.8 518 541 4.4 Europe 1,655 1,875 13.3 831 952 14.6 Asia 316 343 8.5 159 173 8.8 Consolidation/Other 0 0 0 1 100.0 Profit from operating activities(EBIT)159 1251 21.4 78 67 14.1 Return on sales(%)2 5.3 3.8 5.2 4.0 Operating cash flow 227 270 18.9 90 120 33.3 1 Includes the adjus

53、ted EBIT figure for Q1 2024,which has been revised from 60 million to 58 million due to the final purchase price allocation for MNG Kargo.2 EBIT/revenue.Post&Parcel Germany:ongoing growth in parcel business supports earnings performance At 8,426 million,revenue in the Post&Parcel Germany division wa

54、s up by 2.8%year on year in the first half of 2024.The Parcel Germany business unit continued to drive this positive development.As expected,German letter mail business declined,though the European elections,among other factors,somewhat slowed this trend.In the second quarter of 2024,revenue in the

55、division rose by 4.1%to 4,160 million.EBIT for the Post&Parcel Germany division in the first half of 2024 amounted to 324 million and was thus 24.1%higher than in the prior-year period,which was hit by additional staff costs due to strikes.Higher revenues in parcel business and goods shipping more t

56、han offset increased material costs and additional pressure from collective bargaining agreements.Return on sales in the first half of 2024 was 3.8%.At 130 million,second-quarter EBIT was 5.7%up on the prior-year quarter.This was due to revenue increases in parcel business and goods shipping as well

57、 as higher operating income.Higher material and staff costs,caused particularly by collective bargaining agreements,were slightly outweighed.The return on sales was 3.1%.KEY FIGURES,POST&PARCEL GERMANY m H1 2023 H1 2024+/%Q2 2023 Q2 2024+/%Revenue 8,194 8,426 2.8 3,996 4,160 4.1 of which Post German

58、y 3,742 3,698 1.2 1,780 1,790 0.6 Parcel Germany 3,213 3,468 7.9 1,609 1,746 8.5 International 1,194 1,209 1.3 583 598 2.6 Consolidation/Other 45 51 13.3 24 26 8.3 Profit from operating activities(EBIT)261 324 24.1 123 130 5.7 Return on sales(%)1 3.2 3.8 3.1 3.1 Operating cash flow2 643 1,014 57.7 2

59、76 490 77.5 1 EBIT/revenue.2 Prior-year figures adjusted.Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Calendar/Contact 08 2024 Half-year Report POST&PARCEL GERMANY:REVENUE m H1 2023 H1 2024+/%Q2 2023 Q2 2024+/%Post Germany 3,742 3,698 1.2 1,780 1,790

60、0.6 of which Mail Communication 2,527 2,543 0.6 1,197 1,231 2.8 Dialogue Marketing 862 804 6.7 413 389 5.8 Other/Consolidation Post Germany 353 351 0.6 170 170 Parcel Germany 3,213 3,468 7.9 1,609 1,746 8.5 POST&PARCEL GERMANY:VOLUMES Mail items(millions)H1 2023 H1 2024+/%Q2 2023 Q2 2024+/%Post Germ

61、any 6,641 6,198 6.7 3,149 2,935 6.8 of which Mail Communication 3,000 2,901 3.3 1,402 1,378 1.7 Dialogue Marketing 3,190 2,913 8.7 1,517 1,371 9.6 Parcel Germany 822 859 4.5 416 435 4.6 Financial position SELECTED CASH FLOW INDICATORS m H1 2023 H1 2024 Q2 2023 Q2 2024 Cash and cash equivalents as of

62、 June 30 3,286 2,853 3,286 2,853 Net change in cash and cash equivalents 276 786 1,566 1,763 Net cash from operating activities 4,244 3,612 1,849 1,611 Net cash used in investing activities 418 1,006 538 409 Net cash used in financing activities 4,102 3,392 2,877 2,965 Solid liquidity situation As o

63、f June 30,2024,the Group reported centrally available liquidity in the amount of 0.5 billion,which is comprised of cash and cash equivalents.Due to our solid liquidity situation,the syndicated credit line in the amount of 4 billion was not drawn.In addition,unused bilateral credit lines in the amoun

64、t of 1.7 billion were available as of the reporting date.Further capital expenditure in the expansion of network infrastructure Investments in property,plant and equipment and intangible assets acquired(not including goodwill)amounted to 1,116 million in the first half of 2024(previous year:1,277 mi

65、llion)and were made predominantly in the expansion of network infrastructure.For a breakdown of capital expenditure into asset classes and by division and region,see notes 12 and 16 to the consolidated financial statements.Net cash from operating activities below prior-year level Net cash from opera

66、ting activities fell in the first half of 2024 from 4,244 million to 3,612 million.Alongside lower EBIT,the cash outflow as a result of changes in working capital had a particularly negative impact.Net cash used in investing activities rose considerably,up from 418 million to 1,006 million.This was

67、despite significantly lower investments in property,plant and equipment at 1,297 million(previous year:1,602 million).The change in current financial assets led to a cash outflow of 11 million in the reporting period.In the previous year,there was a cash inflow of 903 million,which resulted from the

68、 liquidation of short-term financial investments with banks.Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Calendar/Contact 09 2024 Half-year Report Free cash flow fell significantly from 1,433 million to 952 million.Excluding the payments for acquisiti

69、ons and divestitures,free cash flow decreased by 459 million.Net cash used in financing activities decreased from 4,102 million to 3,392 million.The largest item was the dividend distribution to our shareholders,which amounted to 2,169 million.In March 2024,we issued a bond,which resulted in an infl

70、ow of 990 million.Cash and cash equivalents fell from 3,649 million as of December 31,2023,to 2,853 million.CALCULATION OF FREE CASH FLOW m H1 2023 H1 2024 Q2 2023 Q2 2024 Net cash from operating activities 4,244 3,612 1,849 1,611 Sale of property,plant and equipment and intangible assets 57 122 25

71、76 Acquisition of property,plant and equipment and intangible assets 1,602 1,297 793 580=Cash outflow from change in property,plant and equipment and intangible assets 1,545 1,175 768 504 Acquisition of subsidiaries and other business units 1 0 2 0 Acquisition of investments accounted for using the

72、equity method and other investments 8 31 8 15=Cash outflow from acquisitions 9 31 6 15 Proceeds from lease receivables 95 97 48 48 Interest from lease receivables 14 15 7 7 Repayment of lease liabilities 1,191 1,246 608 630 Interest on lease liabilities 253 324 128 164=Cash outflow for leases 1,335

73、1,458 681 739 Interest received(without leasing)118 100 58 52 Interest paid(without leasing)40 96 2 61=Net interest received/paid 78 4 56 9 Free cash flow 1,433 952 450 344 Net assets SELECTED INDICATORS FOR NET ASSETS Dec.31,2023 June 30,2024 Equity ratio%34.2 33.4 Net debt m 17,739 19,885 Net inte

74、rest cover1 20.7 8.7 Net gearing%43.7 46.8 1 In the first half-year.Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Calendar/Contact 10 2024 Half-year Report Increase in consolidated total assets The Groups total assets amounted to 67,583 million as of J

75、une 30,2024,and were thus 753 million higher than on December 31,2023(66,830 million).At 48,185 million,noncurrent assets exceeded the figure as of the comparison date(47,617 million).Higher goodwill due to currency effects led intangible assets in particular to increase from 14,523 million to 14,64

76、8 million.At 30,412 million,the amount of property,plant and equipment was slightly higher than on December 31,2023(30,018 million),with capital expenditure and positive currency effects surpassing depreciation and impairment losses,and disposals.Trade receivables increased slightly by 328 million t

77、o 10,865 million.Other current assets rose by a significant 354 million to 2,769 million,primarily due to an increase in prepaid expenses.Cash and cash equivalents decreased by 796 million to 2,853 million.At 22,067 million,equity attributable to Deutsche Post AG shareholders was lower than on Decem

78、ber 31,2023(22,475 million).The consolidated net profit for the period,gains from the remeasurement of pension obligations,and currency effects increased this figure,while the dividend distribution and further share buybacks decreased it.Higher interest rates in particular resulted in a significant

79、decrease of 397 million in provisions for pensions and similar obligations to 2,122 million.Financial liabilities increased from 22,718 million as of December 31,2023,to 24,153 million.The bond placed in March 2024 with a nominal volume of 1 billion played a significant part in this.Trade payables d

80、eclined from 8,479 million to 8,035 million.Other current liabilities rose by 349 million to 5,885 million,due primarily to an increase in liabilities to employees.Higher net debt Net debt rose from 17,739 million as of December 31,2023,to 19,885 million as of June 30,2024.At 33.4%,the equity ratio

81、was in line with the figure as of December 31,2023(34.2%).The net interest cover ratio indicates the extent to which net interest obligations are covered by EBIT.This figure declined from 20.7 to 8.7.Net gearing expresses the ratio of net debt to the total of equity and net debt.Net gearing was 46.8

82、%as of June 30,2024.NET DEBT m Dec.31,2023 June 30,2024 Bonds 6,189 7,186+Amounts due to banks 560 721+Lease liabilities 14,080 14,422+Negative fair value of derivatives 116 24+Other financial liabilities 834 843=Financial liabilities1 21,779 23,196 Cash and cash equivalents 3,649 2,853 Current fina

83、ncial assets1 364 422 Positive fair value of noncurrent derivatives2 27 36=Financial assets 4,040 3,311 Net debt 17,739 19,885 1 Less operating financial liabilities and/or operating financial assets.2 Recognized in noncurrent financial assets in the balance sheet.Interim Group Management Report Con

84、densed Consolidated Interim Financial Statements Financial Calendar/Contact 11 2024 Half-year Report EXPECTED DEVELOPMENTS,OPPORTUNITIES AND RISKS Future economic parameters S&P Global predicts that global economic growth is likely to maintain only a moderate pace during the second half of 2024 and

85、beyond.Global trade is also expected to grow only moderately,expanding by 3.1%in price-adjusted terms(July forecast by the IMF),compared with an average of nearly 5%during the three decades preceding the COVID-19 pandemic.Apart from the structural disruptions due to the climate crisis,this reflects

86、political polarization combined with increasing protectionism in many countries.This hampers the reduction in core inflation,which is likely to delay and limit monetary easing by leading central banks.S&P Global expects the world economy to grow by 2.7%in 2024.The global sideways tendency conceals s

87、light year-on-year weakening in China(from 5.2%to 5.0%)and the United States(from 2.5%to 2.4%)on the one hand,and modest acceleration in the eurozone(from 0.6%to 0.8%)and Germany(from 0.0%to 0.3%)on the other.Expected developments The forecast we published in March 2024 explicitly anticipated a year

88、-on-year decline in earnings for the first half of 2024.This expectation was based on positive market effects particularly those driven by the still significantly elevated freight rates in air and ocean freight in the first half of 2023 coming to an end.We also did not expect any notable uptick in e

89、conomic growth in the first half of 2024.The results for the reporting period were in line with these expectations.For the second half of 2024,we continue to expect earnings to exceed the prior-year period.The extent of this earnings growth will depend on how the global economy develops over the rem

90、ainder of the year.For the 2024 fiscal year,we are therefore leaving our forecast for consolidated EBIT unchanged at between 6.0 billion and 6.6 billion.As before,we anticipate EBIT of more than 5.7 billion in the DHL divisions and EBIT of more than 0.8 billion in the Post&Parcel Germany division.Gr

91、oup Functions is still anticipated to contribute around 0.45 billion to earnings.We also continue to plan for capital expenditure(excluding leases)to range between 3.0 billion and 3.6 billion in 2024.In view of the expected EBIT development in combination with a predicted increase in the asset charg

92、e,we expect the EAC to be down slightly year over year.Free cash flow is projected at around 2.75 billion,including a 250 million overall budget for M&A expenses.Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Calendar/Contact 12 2024 Half-year Report Op

93、portunities and risks Although the inflation outlook remains uncertain,it improved in the first half of 2024.That means it currently poses only a low risk for the Group.The German federal government has approved a draft for the amendment of the Postgesetz(PostG German Postal Act),which was adopted b

94、y the Bundestag in the reporting period.As of June 30,2024,we continued to assess the risk from the regulatory framework of the German post and parcel market as medium.After the reporting date,the Bundesrat approved the draft legislation on July 5,2024,which reduces the risk for the Group.The Groups

95、 overall opportunity and risk situation did not otherwise change significantly during the first half of 2024 compared with the situation described in the 2023 Annual Report.Based upon the Groups early-warning system and in the estimation of its Board of Management,there are currently no identifiable

96、 risks for the Group that,individually or collectively,cast doubt upon the Groups ability to continue as a going concern.Nor are any such risks apparent in the foreseeable future.Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Calendar/Contact 13 2024 Ha

97、lf-year Report Condensed Consolidated Interim Financial Statements INCOME STATEMENT JANUARY 1 TO JUNE 30 m Note H1 2023 H1 2024 Q2 2023 Q2 2024 Revenue 5 41,012 40,890 20,094 20,639 Other operating income 6 1,299 1,232 698 607 Changes in inventories and work performed and capitalized 7 183 85 69 48

98、Material expense 20,935 20,549 10,041 10,364 Staff costs 13,483 14,113 6,747 7,103 Depreciation,amortization and impairment losses 8 2,155 2,320 1,084 1,166 Other operating expenses 9 2,602 2,551 1,308 1,305 Net income/expenses from investments accounted for using the equity method 10 12 12 12 5 Pro

99、fit from operating activities(EBIT)3,331 2,662 1,693 1,351 Financial income 187 207 94 108 Finance costs 517 597 251 314 Foreign-currency result 115 20 63 5 Net finance costs 445 370 220 201 Profit before income taxes 2,886 2,292 1,473 1,150 Income taxes 866 688 442 345 Consolidated net profit for t

100、he period 2,020 1,604 1,031 805 attributable to Deutsche Post AG shareholders 1,889 1,484 978 744 to noncontrolling interests 131 120 53 61 Basic earnings per share()11 1.58 1.27 0.82 0.64 Diluted earnings per share()11 1.55 1.25 0.80 0.63 Interim Group Management Report Condensed Consolidated Inter

101、im Financial Statements Financial Calendar/Contact 14 2024 Half-year Report STATEMENT OF COMPREHENSIVE INCOME JANUARY 1 TO JUNE 30 m H1 2023 H1 2024 Q2 2023 Q2 2024 Consolidated net profit for the period 2,020 1,604 1,031 805 Items that will not be reclassified to profit or loss Change due to remeas

102、urements of net pension provisions 171 561 13 251+Reserve for equity instruments without recycling 3 2 1 1+Income taxes relating to components of other comprehensive income 33 45 14 16=Total(net of tax)207 518 0 266 Items that will be reclassified subsequently to profit or loss Hedging reserves +Cha

103、nges from unrealized gains and losses 7 29 8 14+Changes from realized gains and losses 11 1 4 3 Currency translation reserve +Changes from unrealized gains and losses 303 267 70 52+Changes from realized gains and losses 1 1 1 1+Income taxes relating to components of other comprehensive income 23 7 2

104、1 2+Share of other comprehensive income of investments accounted for using the equity method,net of tax 1 1 0 0=Total(net of tax)298 290 60 62 Other comprehensive income(net of tax)505 808 60 328 Total comprehensive income 1,515 2,412 971 1,133 attributable to Deutsche Post AG shareholders 1,413 2,2

105、87 937 1,071 to noncontrolling interests 102 125 34 62 Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Calendar/Contact 15 2024 Half-year Report BALANCE SHEET m Note Dec.31,20231 June 30,2024 ASSETS Intangible assets 12 14,523 14,648 Property,plant and e

106、quipment 12 30,018 30,412 Investment property 13 12 Investments accounted for using the equity method 104 107 Noncurrent financial assets 13 1,118 1,156 Other noncurrent assets 388 499 Noncurrent income tax assets 0 4 Deferred tax assets 1,453 1,347 Noncurrent assets 47,617 48,185 Inventories 1,061

107、1,109 Current financial assets 13 833 946 Trade receivables 10,537 10,865 Other current assets 2,415 2,769 Current income tax assets 663 850 Cash and cash equivalents 3,649 2,853 Assets held for sale 55 6 Current assets 19,213 19,398 TOTAL ASSETS 66,830 67,583 EQUITY AND LIABILITIES Issued capital 1

108、4 1,181 1,169 Capital reserves 15 3,579 3,615 Other reserves 1,109 822 Retained earnings 15 18,824 18,105 Equity attributable to Deutsche Post AG shareholders 22,475 22,067 Noncontrolling interests 413 512 Equity 22,888 22,579 Provisions for pensions and similar obligations 2,519 2,122 Deferred tax

109、liabilities 428 412 Other noncurrent provisions 2,062 2,256 Noncurrent financial liabilities 17,939 17,999 Other noncurrent liabilities 280 286 Noncurrent income tax liabilities 392 406 Noncurrent provisions and liabilities 23,620 23,481 Current provisions 1,079 989 Current financial liabilities 4,7

110、79 6,154 Trade payables 8,479 8,035 Other current liabilities 5,536 5,885 Current income tax liabilities 449 460 Liabilities associated with assets held for sale 0 0 Current provisions and liabilities 20,322 21,523 TOTAL EQUITY AND LIABILITIES 66,830 67,583 1 Prior-year figures adjusted,note 4.Inter

111、im Group Management Report Condensed Consolidated Interim Financial Statements Financial Calendar/Contact 16 2024 Half-year Report CASH FLOW STATEMENT JANUARY 1 TO JUNE 30 m H1 2023 H1 2024 Q2 2023 Q2 2024 Consolidated net profit for the period 2,020 1,604 1,031 805+Income taxes 866 688 442 345+Net

112、finance costs 445 370 220 201=Profit from operating activities(EBIT)3,331 2,662 1,693 1,351+Depreciation,amortization and impairment losses 2,155 2,320 1,084 1,166+Net cost/net income from disposal of noncurrent assets 4 2 1 0+Other noncash income and expense 133 118 116 88+Change in provisions 166

113、76 113 120+Change in other noncurrent assets and liabilities 26 26 19 3+Dividend received 7 0 4 0+Income taxes paid 895 812 506 496=Net cash from operating activities before changes in working capital 4,269 4,100 2,028 2,050+Change in inventories 114 37 53 41+Change in receivables and other current

114、assets 1,606 757 824 246+Change in liabilities and other items 1,517 306 950 152=Net cash from operating activities 4,244 3,612 1,849 1,611 Subsidiaries and other business units 0 0 0 0+Property,plant and equipment and intangible assets 57 122 25 76+Other noncurrent financial assets 103 102 50 48=Pr

115、oceeds from disposal of noncurrent assets 160 224 75 124 Subsidiaries and other business units 1 0 2 0+Property,plant and equipment and intangible assets 1,602 1,297 793 580+Investments accounted for using the equity method and other investments 8 31 8 15+Other noncurrent financial assets 2 6 0 2=Ca

116、sh paid to acquire noncurrent assets 1,613 1,334 799 597+Interest received 132 115 65 59+Change in current financial assets 903 11 121 5=Net cash used in investing activities 418 1,006 538 409 Proceeds from issuance of noncurrent financial liabilities 1 990 1 0+Repayments of noncurrent financial lia

117、bilities 1,215 1,269 618 641+Change in current financial liabilities 130 167 180 260+Other financing activities 132 27 52 29+Cash paid for transactions with noncontrolling interests 5 4 0 4+Dividend paid to Deutsche Post AG shareholders 2,205 2,169 2,205 2,169+Dividend paid to noncontrolling-interes

118、t holders 20 15 8 9+Purchase of treasury shares 363 645 45 148+Interest paid 293 420 130 225=Net cash used in financing activities 4,102 3,392 2,877 2,965 Net change in cash and cash equivalents 276 786 1,566 1,763+Effect of changes in exchange rates on cash and cash equivalents 228 10 103 1+Cash an

119、d cash equivalents at beginning of reporting period 3,790 3,649 4,955 4,615=Cash and cash equivalents at end of reporting period 3,286 2,853 3,286 2,853 Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Calendar/Contact 17 2024 Half-year Report STATEMENT O

120、F CHANGES IN EQUITY JANUARY 1 TO JUNE 30 Other reserves m Issued capital Capital reserves Hedging reserves Reserve for equity instruments without recycling Currency translation reserve Retained earnings Equity attributable to Deutsche Post AG shareholders Non-controlling interests Total equity Balan

121、ce as of January 1,2023 1,199 3,543 58 3 573 19,012 23,236 482 23,718 Dividend 2,205 2,205 20 2,225 Transactions with noncontrolling interests 0 0 0 5 5 0 5 Capital increase/decrease 8 36 487 459 1 458 2,669 19 2,688 Total comprehensive income Consolidated net profit for the period 1,889 1,889 131 2

122、,020 Currency translation differences 277 277 25 302 Change due to remeasurements of net pension provisions 199 199 4 203 Other changes 4 4 0 0 0 0 1,413 102 1,515 Balance as of June 30,2023 1,191 3,579 62 7 850 18,005 21,980 565 22,545 Balance as of January 1,2024 1,181 3,579 46 22 1,133 18,8241 22

123、,475 413 22,888 Dividend 2,169 2,169 20 2,189 Transactions with noncontrolling interests 0 0 0 6 6 6 12 Capital increase/decrease 12 36 574 550 0 550 Inflation adjustments pursuant to IAS 29 30 30 0 30 2,695 26 2,721 Total comprehensive income Consolidated net profit for the period 1,484 1,484 120 1

124、,604 Currency translation differences 264 264 5 269 Change due to remeasurements of net pension provisions 516 516 0 516 Other changes 21 2 0 23 0 23 2,287 125 2,412 Balance as of June 30,2024 1,169 3,615 67 20 869 18,105 22,067 512 22,579 1 Prior-year figure adjusted,note 4.Interim Group Management

125、 Report Condensed Consolidated Interim Financial Statements Financial Calendar/Contact 18 2024 Half-year Report SELECTED EXPLANATORY NOTES Company information Deutsche Post AG is a listed corporation domiciled in Bonn,Germany.The condensed consolidated interim financial statements of Deutsche Post A

126、G and its subsidiaries cover the period from January 1 to June 30,2024,and have been reviewed.Basis of preparation 1 Basis of accounting The condensed consolidated interim financial statements as of June 30,2024,were prepared in compliance with International Financial Reporting Standards(IFRSs)and t

127、he related Interpretations of the International Accounting 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 int

128、erim financial statements.Preparation of the condensed consolidated interim financial statements in accordance with IAS 34 requires the Board of Management to exercise judgement and make estimates and assumptions that affect the application of accounting policies in the Group and the presentation of

129、 assets,liabilities,income and expenses.Actual amounts 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

130、 the 2023 fiscal year.Exceptions are the new or revised International Financial Reporting Standards(IFRSs)required to be applied for the first time in the 2024 financial year that,however,have not had a material influence on the consolidated interim financial statements.Detailed explanations of thes

131、e can be found in the 2023 Annual Report in note 5 to the 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 is unchanged from the previous year at 30%.Changes to

132、 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 rates for the determination of the present value of pension obligations.The changes are as follows:Interim Group Management Report Cond

133、ensed Consolidated Interim Financial Statements Financial Calendar/Contact 19 2024 Half-year Report EXCHANGE RATES FOR SIGNIFICANT CURRENCIES 1=Closing rates Average rates Currency Country Dec.31,2023 June 30,2024 H1 2023 H1 2024 AUD Australia 1.6294 1.6076 1.6177 1.6428 CNY China 7.8843 7.8005 7.55

134、41 7.8148 GBP United Kingdom 0.8697 0.8462 0.8735 0.8534 HKD Hong Kong 8.6475 8.3524 8.4766 8.4362 INR India 92.0797 89.1686 88.8511 89.8210 JPY Japan 156.6571 171.8045 147.8897 166.0940 SEK Sweden 11.0919 11.3704 11.4158 11.4261 USD United States 1.1070 1.0696 1.0808 1.0788 Accounting pursuant to I

135、AS 29 is applied for Turkish companies.The consumer price index of the Turkish Statistical Institute was used for the adjustment of the purchasing power effects.As of December 31,2023,this figure was 1,859 basis points,as of June 30,2024,it had increased to 2,319 basis points.The following discount

136、rates were used to determine the present value of the pension obligations:DISCOUNT RATE FOR THE PRESENT VALUE OF PENSION OBLIGATIONS%Dec.31,2023 June 30,2024 Germany 3.30 3.80 United Kingdom 4.60 5.10 Other 3.31 3.50 Total 3.65 4.16 2 Consolidated group The number of companies consolidated with Deut

137、sche Post AG is shown in the following table:CONSOLIDATED GROUP Dec.31,2023 June 30,2024 Number of fully consolidated companies(subsidiaries)German 81 82 Foreign 690 685 Number of joint operations German 1 1 Foreign 0 0 Number of investments accounted for using the equity method German 1 1 Foreign 1

138、7 17 The changes are primarily the result of mergers,formations and liquidations of immaterial companies.No companies were acquired in the first half of 2024.Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Calendar/Contact 20 2024 Half-year Report Final

139、purchase price allocation for MNG Kargo MNG Kargo,acquired on October 5,2023,with the approval of the Turkish competition authorities,and its subsidiary are leading parcel carriers in Turkey and have a strong presence in the e-commerce segment.The acquisition complements the business portfolio of DH

140、L Group and is contributing to the company being able to benefit from growth potential in the Turkish market and continuing to strengthen its position in Turkey and in European markets.MNG Kargo is allocated to the eCommerce segment.The purchase price allocation was finalized on July 25,2024,and res

141、ulted in non-tax-deductible goodwill of 234 million,which is allocated to the eCommerce cash generating unit(CGU).It is mainly attributable to the synergies and network effects expected from the e-commerce market in Turkey.Customer relationships will be amortized over three to eight years.The brand

142、name has a useful life of one year.The useful lives of the property,plant and equipment range from four to ten years.Current assets include trade receivables of 24 million.There was a difference of 1 million between the gross amount and the carrying amount.FINAL OPENING BALANCE AS OF OCTOBER 5,2023,

143、MNG KARGO m Carrying amount Adjustments due to purchase price allocation Fair value Noncurrent assets 24 54 78 Customer relationships 38 Brand name 2 Property,plant and equipment 14 Current assets 28 28 Cash and cash equivalents 15 15 ASSETS 67 54 121 Noncurrent provisions and liabilities 33 14 47 D

144、eferred taxes 14 Current provisions and liabilities 49 49 EQUITY AND LIABILITIES 82 14 96 Net assets 15 40 25 Purchase price paid in cash 259 259 Goodwill 274 40 234 DHL Logistics LLC SO On December 7,2023,DHL Global Forwarding acquired the remaining 60%of shares in Danzas AEI Emirates.Until that ti

145、me,the equity method had been applied to this company.Since then,the company has been fully consolidated and now operates under the name DHL Logistics LLC SO(DHL Logistics).DHL Logistics is a specialist in logistics and transport services in Dubai and the northern Emirates.Thanks to this acquisition

146、,the Global Forwarding,Freight division will continue driving its strategic goal and accelerate profitable growth in the Middle East and Africa region.The purchase price allocation was finalized on May 28,2024,and resulted in non-tax-deductible goodwill of 208 million,which is allocated to the Globa

147、l Forwarding CGU.The goodwill is mainly attributable to the synergies and network effects expected in Dubai and the northern Emirates.Customer relationships will be amortized over a period of seven to ten years.The useful lives of the property,plant and equipment range from 15 to 33 years.Current as

148、sets include trade receivables of 41 million.There was a difference of 2 million between the gross amount and the carrying amount.Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Calendar/Contact 21 2024 Half-year Report FINAL OPENING BALANCE AS OF DECEMB

149、ER 7,2023,DHL LOGISTICS m Carrying amount Adjustments due to purchase price allocation Fair value Noncurrent assets 64 57 121 Customer relationships 9 Land and buildings 48 Current assets 48 48 Cash and cash equivalents 9 9 ASSETS 121 57 178 Noncurrent provisions and liabilities 32 9 41 Deferred tax

150、es 9 Current provisions and liabilities 33 33 EQUITY AND LIABILITIES 65 9 74 Net assets 56 48 104 Purchase price paid in cash 187 187 Fair value of the existing equity interest1 125 125 Goodwill 256 48 208 1 Includes the gain from change in consolidation method in the amount of 114 million,which is

151、recognized under net income from investments accounted for using the equity method.There were no material derecognition or deconsolidation effects in the first half of 2024.3 Significant transactions Sale of shares by the KfW On February 6,2024,the KfW sold 50 million shares from its holding in Deut

152、sche Post AG.This took the KfWs shareholding to 16.45%.With the capital reduction that took place in May 2024,its equity interest increased again and stands at 16.99%as of June 30,2024,note 14.The KfW remains the largest shareholder in Deutsche Post AG.Share buyback of up to 4 billion On February 12

153、,2024,the Board of Management resolved to expand the current share buyback program so that a total of up to 130 million treasury shares are to be purchased at a price of now up to 4 billion through the end of 2025.The purposes remain unchanged.The repurchased shares will either be retired,used to se

154、rvice 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,note 14.Capital reduction With the authorization granted by the Annual General Meeting on May 4,2023

155、,the Board of Management resolved on May 2,2024,to reduce the issued capital by 39,059,409 through the retirement of 39,059,409 treasury shares,note 14.This was entered in the commercial register on May 22,2024.The withdrawal and cancellation of the shares was confirmed by Deutsche Bank on June 6,20

156、24.Issue of a new bond On March 25,2024,Deutsche Post AG issued a bond with a volume of 1 billion.The twelve-year term ends on March 25,2036.The bond has a fixed interest rate of 3.5%per year.The revenue will primarily be used for general company purposes,including the refinancing of existing financ

157、ial liabilities.Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Calendar/Contact 22 2024 Half-year Report 4 Adjustment of prior-period amounts The final purchase price allocation for MNG Kargo and DHL Logistics resulted in adjustments to the balance shee

158、t items below.The adjustments were accounted for in the opening balance and led to a corresponding adjusted presentation in the balance sheet as of December 31,2023.BALANCE SHEET ADJUSTMENTS m Amount Adjustment Adjusted amount December 31,2023 Intangible assets 14,567 44 14,523 Property,plant and eq

159、uipment 29,958 60 30,018 Adjustment to assets 16 Retained earnings 18,826 2 18,824 Deferred tax liabilities 410 18 428 Adjustment to equity and liabilities 16 Income statement disclosures 5 Revenue by business unit m H1 2023 H1 2024 Express 12,126 11,947 Global Forwarding,Freight 9,701 8,895 Global

160、Forwarding 7,587 6,802 Freight 2,114 2,093 Supply Chain 8,273 8,618 eCommerce 2,944 3,218 Post&Parcel Germany 7,951 8,205 Post Germany 3,722 3,674 Parcel Germany 3,204 3,458 International 958 994 Other 67 79 Group Functions/Consolidation 17 7 Total 41,012 40,890 Group revenue fell by 122 million yea

161、r on year to 40,890 million.While organic growth(266 million)and currency effects (137 million)reduced revenue,the previous years acquisitions(portfolio changes)added revenue of 281 million.Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Calendar/Contact

162、 23 2024 Half-year Report 6 Other operating income m H1 2023 H1 2024 Income from the remeasurement of liabilities 156 228 Insurance-related income 205 219 Income from currency translation 278 149 Income from the reversal and remeasurement of provisions 97 108 Operating lease income 105 105 Income fr

163、om fees and reimbursements 57 60 Income from the disposal of assets 32 28 Miscellaneous other operating income 369 335 Total 1,299 1,232 Miscellaneous other operating income includes a large number of smaller individual items.7 Changes in inventories and work performed and capitalized m H1 2023 H1 2

164、024 Income(+)/expense()from changes in inventories 80 26 Work performed and capitalized 103 111 Total 183 85 Changes in inventories relate primarily to real estate development projects.8 Depreciation,amortization and impairment losses m H1 2023 H1 2024 Amortization of and impairment losses on intang

165、ible assets,of which impairment loss:0(previous year:0)123 138 Depreciation of and impairment losses on property,plant and equipment acquired,of which impairment losses:2(previous year:1)928 998 Depreciation of and impairment losses on right-of-use assets,of which impairment losses:0(previous year:1

166、)1,104 1,184 Impairment of goodwill 0 0 Total 2,155 2,320 As in the previous year,impairment losses arose solely in the Supply Chain segment.They amounted to 2 million.Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Calendar/Contact 24 2024 Half-year Rep

167、ort 9 Other operating expenses m H1 2023 H1 2024 Cost of purchased cleaning and security services 332 354 Warranty expenses,refunds and compensation payments 257 287 Travel and training costs 167 176 Other business taxes 177 170 Expenses for advertising and public relations 158 159 Insurance costs 1

168、55 158 Currency translation expenses 265 149 Telecommunication costs 116 118 Office supplies 110 112 Customs-clearance-related charges 96 112 Entertainment and corporate hospitality expenses 95 99 Miscellaneous other operating expenses 674 657 Total 2,602 2,551 Miscellaneous other operating expenses

169、 include a large number of smaller individual items.10 Net income/expenses from investments accounted for using the equity method Net income/expenses from investments accounted for using the equity method deteriorated from income of 12 million in the previous year to expenses of 12 million in the re

170、porting period.This was primarily due to income recorded in the previous year from share dilutions involving the Israeli company Global-E Online Ltd.and the US company Supply Network Visibility Holdings,LLC.11 Earnings per share Basic earnings per share in the reporting period were 1.27(previous yea

171、r:1.58).BASIC EARNINGS PER SHARE H1 2023 H1 2024 Consolidated net profit for the period attributable to Deutsche Post AG shareholders m 1,889 1,484 Weighted average number of shares outstanding Number 1,193,088,223 1,171,754,038 Basic earnings per share 1.58 1.27 Interim Group Management Report Cond

172、ensed Consolidated Interim Financial Statements Financial Calendar/Contact 25 2024 Half-year Report Diluted earnings per share in the reporting period were 1.25(previous year:1.55).DILUTED EARNINGS PER SHARE H1 2023 H1 2024 Consolidated net profit for the period attributable to Deutsche Post AG shar

173、eholders m 1,889 1,484 Plus interest expense on the convertible bond m 4 4 Less income taxes1 m 0 1 Adjusted consolidated net profit for the period attributable to Deutsche Post AG shareholders m 1,893 1,487 Weighted average number of shares outstanding Number 1,193,088,223 1,171,754,038 Potentially

174、 dilutive shares Number 25,885,299 21,038,305 Weighted average number of shares for diluted earnings Number 1,218,973,522 1,192,792,343 Diluted earnings per share 1.55 1.25 1 Rounded below 1 million.Balance sheet disclosures 12 Intangible assets and property,plant and equipment Investments in intang

175、ible assets(not including goodwill),property,plant and equipment acquired and right-of-use assets amounted to 2,609 million in the first half of 2024(previous year:2,523 million).CAPITAL EXPENDITURES m June 30,2023 June 30,2024 Intangible assets(not including goodwill)135 112 Acquired property,plant

176、 and equipment Land and buildings 64 60 Technical equipment and machinery 89 77 Transport equipment 112 149 Aircraft 84 69 IT equipment 33 24 Operating and office equipment 31 31 Advance payments and assets under development 729 594 1,142 1,004 Right-of-use assets Land and buildings 881 1,012 Techni

177、cal equipment and machinery 16 18 Transport equipment 192 249 Aircraft 116 170 Advance payments 41 44 1,246 1,493 Total 2,523 2,609 Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Calendar/Contact 26 2024 Half-year Report Goodwill changed as follows:CHAN

178、GE IN GOODWILL m 2023 2024 Cost Balance as of January 1 13,775 14,064 Additions from business combinations1 447 0 Inflation adjustments pursuant to IAS 29 25 49 Currency translation differences 183 81 Balance as of December 31/June 301 14,064 14,194 Amortization and impairment losses Balance as of J

179、anuary 1 1,061 1,056 Currency translation differences 5 10 Balance as of December 31/June 30 1,056 1,066 Carrying amount as of December 31/June 301 13,008 13,128 1 Prior-year figures adjusted,note 4.Additions to goodwill in 2023 were mainly attributable to the acquisitions of MNG Kargo and DHL Logis

180、tics.13 Financial assets Noncurrent Current Total m Dec.31,2023 June 30,2024 Dec.31,2023 June 30,2024 Dec.31,2023 June 30,2024 Debt instruments(loans and receivables)at amortized cost(AC)252 260 578 633 830 893 Debt instruments at fair value through profit or loss(FVTPL)306 355 29 32 335 387 Equity

181、instruments at fair value through profit or loss(FVTPL)1 1 0 0 1 1 Equity instruments at fair value through other comprehensive income(FVTOCI)24 28 0 0 24 28 Derivatives with hedge accounting 2 8 11 24 13 32 Derivatives without hedge accounting(M&A)25 28 0 2 25 30 Derivatives without hedge accountin

182、g 0 0 44 74 44 74 Lease assets 508 476 171 181 679 657 Financial assets 1,118 1,156 833 946 1,951 2,102 The increase of 151 million in financial assets related mainly to pension plans in the United States(49 million)and to derivatives(54 million).Net impairments for the first half of 2024 amounted t

183、o expenses of 32 million(previous year:income of 12 million).Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Calendar/Contact 27 2024 Half-year Report 14 Issued capital and purchase of treasury shares As of June 30,2024,KfW held a 16.99%interest in the i

184、ssued capital of Deutsche Post AG(December 31,2023:20.49%).Free float accounts for 80.41%of the shares and the remaining 2.6%of shares are owned by Deutsche Post AG.By way of a resolution of the Board of Management dated May 2,2024,the issued capital was reduced by 39 million through the retirement

185、of 39,059,409 treasury shares.The issued capital is now composed of 1,200,000,000 no-par-value registered shares(ordinary shares)with a notional interest in the issued capital of 1 per share and is fully paid up.CHANGES IN ISSUED CAPITAL AND TREASURY SHARES m 2023 2024 Issued capital Balance as of J

186、anuary 1 1,239 1,239 Capital reduction through retirement of treasury shares 0 39 Balance as of December 31/June 30 1,239 1,200 Treasury shares Balance as of January 1 40 58 Purchase of treasury shares/retirement of treasury shares 24 24 Issue/sale of treasury shares 6 3 Balance as of December 31/Ju

187、ne 30 58 31 Total as of December 31/June 30 1,181 1,169 Share buyback program 2022/2025 The fifth tranche of the share buyback program 2022/2025 started on May 9,2024.The buyback will be carried out through December 30,2024,on the basis of an irrevocable agreement by an independent financial service

188、s provider.With the share buyback program 2022/2025,a total of up to 130 million treasury shares are to be purchased at a price of now up to 4 billion through the end of 2025.TRANCHES OF THE SHARE BUYBACK PROGRAM 2022/2025 Total volume m Maximum duration Buyback Number Buyback volume m Average price

189、 per share Tranche I 800 April 8,2022,to November 7,2022 21,931,589 790 36.00 Tranche II 500 November 9,2022,to March 31,2023 12,870,144 500 38.85 Tranche III 500 June 26,2023,to October 31,2023 11,664,906 500 42.86 Tranche IV 600 November 13,2023,to April 19,2024 13,887,118 600 43.21 Tranche V 600

190、May 9,2024,to December 30,2024 3,717,5311 1441 38.841 Total 3,000 64,071,288 2,534 1 As of the reporting date on June 30,2024.The shares bought back as part of tranche V can be used for the purposes specified under note 3.Share Matching Program In the first half of 2024,3 million treasury shares,acq

191、uired for a total of 119 million at an average purchase price of 39.60 per share,were issued to executives to settle the 2023 SMS tranche and claims to matching shares under the 2019 tranche.Deutsche Post AG held 31,216,520 treasury shares as of June 30,2024.Interim Group Management Report Condensed

192、 Consolidated Interim Financial Statements Financial Calendar/Contact 28 2024 Half-year Report 15 Reserves Capital reserves CAPITAL INCREASE/DECREASE m 2023 H1 2024 Changes due to share-based remuneration programs 36 3 Capital reduction through retirement of treasury shares 0 39 Total 36 36 Retained

193、 earnings CAPITAL INCREASE/DECREASE m 2023 H1 2024 Share buyback 2022/2025 1,078 585 Changes due to share-based remuneration programs 57 50 Capital reduction through retirement of treasury shares 0 39 Other 1 0 Total 1,020 574 Tranche V of the share buyback program 2022/2025,with a total volume of u

194、p to 600 million,began on May 9,2024,and is being implemented by an independent financial services provider until December 30,2024,on the basis of an irrevocable agreement.At the time the agreement was concluded,the resulting obligation was charged in full to retained earnings and recognized as a fi

195、nancial liability.It was reduced by the buyback transactions carried out by June 30,2024.The obligation to repurchase shares after June 30,2024,is included in the amount of 456 million.Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Calendar/Contact 29 2

196、024 Half-year Report Segment reporting 16 Segment reporting The vehicle fleet used by Post&Parcel Germany was transferred from Group Functions to the Post&Parcel Germany segment at the beginning of January 2024.The prior-year figures have been adjusted accordingly.SEGMENTS BY DIVISION m Express Glob

197、al Forwarding,Freight1 Supply Chain eCommerce1 January 1 to June 30 2023 2024 2023 2024 2023 2024 2023 2024 External revenue 12,126 11,947 9,701 8,895 8,273 8,618 2,944 3,218 Internal revenue 277 279 622 602 66 67 69 82 Total revenue 12,403 12,226 10,323 9,497 8,339 8,685 3,013 3,300 Profit from ope

198、rating activities(EBIT)1,804 1,315 777 542 499 535 159 125 of which:net income/expenses from investments accounted for using the equity method 1 0 0 1 3 1 0 0 Segment assets2 20,649 20,606 11,363 11,968 10,430 11,124 3,398 3,553 of which:investments accounted for using the equity method 9 8 13 12 17

199、 15 25 40 Segment liabilities2 4,824 4,627 3,906 3,981 3,836 3,864 1,000 918 Net segment assets/liabilities2 15,825 15,979 7,457 7,987 6,594 7,260 2,398 2,635 Capex(assets acquired)424 356 80 71 210 246 158 113 Capex(right-of-use assets)391 443 122 94 312 547 80 150 Total capex 815 799 202 165 522 7

200、93 238 263 Depreciation and amortization 860 914 162 176 460 507 105 136 Impairment losses 0 0 0 0 2 2 0 0 Total depreciation,amortization and impairment losses 860 914 162 176 462 509 105 136 Net cash from(+)/used in()operating activities 2,364 2,127 1,342 210 453 676 227 270 Employees3 112,378 109

201、,542 46,991 45,665 181,720 186,126 32,287 39,793 Second quarter External revenue 5,991 6,069 4,540 4,575 4,201 4,317 1,474 1,626 Internal revenue 131 151 299 305 31 35 34 41 Total revenue 6,122 6,220 4,839 4,880 4,232 4,352 1,508 1,667 Profit from operating activities(EBIT)901 683 388 279 272 279 78

202、 67 of which:net income/expenses from investments accounted for using the equity method 1 1 0 1 0 1 0 0 Capex(assets acquired)242 191 37 29 98 129 116 63 Capex(right-of-use assets)241 213 68 47 179 295 43 36 Total capex 483 404 105 76 277 424 159 99 Depreciation and amortization 435 458 82 88 231 25

203、6 53 70 Impairment losses 0 0 0 0 2 1 0 0 Total depreciation,amortization and impairment losses 435 458 82 88 233 257 53 70 Net cash from(+)/used in()operating activities 1,141 1,003 485 242 292 275 90 120 1 Prior-year figures adjusted,note 4.2 As of December 31,2023,and June 30,2024.3 Average FTEs.

204、4 Prior-period amounts adjusted;the vehicle fleet used by Post&Parcel Germany was transferred from Group Functions to the Post&Parcel Germany segment(EBIT remained unchanged).5 Including rounding.Continuation on the next page Interim Group Management Report Condensed Consolidated Interim Financial S

205、tatements Financial Calendar/Contact 30 2024 Half-year Report SEGMENTS BY DIVISION m Post&Parcel Germany4 Group Functions4 Consolidation1,4,5 Group1 January 1 to June 30 2023 2024 2023 2024 2023 2024 2023 2024 External revenue 7,951 8,205 16 7 1 0 41,012 40,890 Internal revenue 243 221 905 968 2,182

206、 2,219 0 0 Total revenue 8,194 8,426 921 975 2,181 2,219 41,012 40,890 Profit from operating activities(EBIT)261 324 171 175 2 4 3,331 2,662 of which:net income/expenses from investments accounted for using the equity method 0 0 14 9 0 1 12 12 Segment assets2 9,585 9,354 4,226 4,328 63 61 59,588 60,

207、872 of which:investments accounted for using the equity method 0 0 39 31 1 0 104 106 Segment liabilities2 2,598 2,627 1,567 1,673 44 49 17,687 17,641 Net segment assets/liabilities2 6,987 6,727 2,659 2,655 19 12 41,901 43,231 Capex(assets acquired)344 275 61 55 0 0 1,277 1,116 Capex(right-of-use ass

208、ets)44 50 297 208 0 1 1,246 1,493 Total capex 388 325 358 263 0 1 2,523 2,609 Depreciation and amortization 281 305 285 279 0 1 2,153 2,318 Impairment losses 0 0 0 0 0 0 2 2 Total depreciation,amortization and impairment losses 281 305 285 279 0 1 2,155 2,320 Net cash from(+)/used in()operating acti

209、vities 643 1,014 23 107 808 792 4,244 3,612 Employees3 158,324 155,008 13,984 14,005 1 0 545,685 550,139 Second quarter External revenue 3,873 4,049 15 3 0 0 20,094 20,639 Internal revenue 123 111 452 484 1,070 1,127 0 0 Total revenue 3,996 4,160 467 487 1,070 1,127 20,094 20,639 Profit from operati

210、ng activities(EBIT)123 130 69 84 0 3 1,693 1,351 of which:net income/expenses from investments accounted for using the equity method 0 0 11 5 0 1 12 5 Capex(assets acquired)181 187 34 34 0 0 708 633 Capex(right-of-use assets)38 22 220 89 0 1 789 703 Total capex 219 209 254 123 0 1 1,497 1,336 Deprec

211、iation and amortization 137 155 144 139 0 1 1,082 1,165 Impairment losses 0 0 0 0 0 0 2 1 Total depreciation,amortization and impairment losses 137 155 144 139 0 1 1,084 1,166 Net cash from(+)/used in()operating activities 276 490 53 6 488 513 1,849 1,611 1 Prior-year figures adjusted,note 4.2 As of

212、 December 31,2023,and June 30,2024.3 Average FTEs.4 Prior-period amounts adjusted;the vehicle fleet used by Post&Parcel Germany was transferred from Group Functions to the Post&Parcel Germany segment(EBIT remained unchanged).5 Including rounding.Interim Group Management Report Condensed Consolidated

213、 Interim Financial Statements Financial Calendar/Contact 31 2024 Half-year Report INFORMATION ABOUT GEOGRAPHICAL REGIONS m Germany Europe (excluding Germany)Americas Asia Pacific Middle East/Africa1 Group1 January 1 to June 30 2023 2024 2023 2024 2023 2024 2023 2024 2023 2024 2023 2024 External reve

214、nue 10,356 10,620 12,462 12,287 8,983 8,784 7,371 7,086 1,840 2,113 41,012 40,890 Noncurrent assets2 12,873 12,811 14,072 14,244 10,652 10,910 5,791 5,870 1,400 1,475 44,788 45,310 Total capex 880 751 676 754 579 623 288 378 100 103 2,523 2,609 Second quarter External revenue 5,027 5,237 6,077 6,225

215、 4,446 4,483 3,643 3,625 901 1,069 20,094 20,639 Total capex 541 414 363 364 389 307 151 209 53 42 1,497 1,336 1 Prior-year figures adjusted,note 4.2 As of December 31,2023,and June 30,2024.RECONCILIATION m H1 2023 H1 2024 Total income of reported segments 3,500 2,841 Group Functions 171 175 Reconci

216、liation to Group/Consolidation 2 4 Profit from operating activities(EBIT)3,331 2,662 Net finance costs 445 370 Profit before income taxes 2,886 2,292 Income taxes 866 688 Consolidated net profit for the period 2,020 1,604 Interim Group Management Report Condensed Consolidated Interim Financial State

217、ments Financial Calendar/Contact 32 2024 Half-year Report 17 Disclosures on financial instruments m Measure-ment category Carrying amount June 30,2024 IFRS 9 carrying amount IFRS 16 balance sheet carrying amount Fair value June 30,20241 At amortized cost At fair value through other comprehensive inc

218、ome(without reclassification)At fair value through other comprehensive income(with reclassification)At fair value through profit or loss(FVTPL)ASSETS Current Cash and cash equivalents AC 2,853 2,853 Trade receivables AC 10,865 10,865 Current financial assets Debt instruments(loans and receivables)at

219、 amortized cost(AC)AC 633 633 of which collateral paid AC 18 18 Debt instruments at fair value through profit or loss(FVTPL)FVTPL 32 32 32 Derivatives with hedge accounting n.a.24 24 24 Derivatives without hedge accounting at fair value through profit or loss(FVTPL)FVTPL 74 74 74 Derivatives without

220、 hedge accounting(M&A)at fair value through profit or loss(FVTPL)FVTPL 2 2 2 Lease assets n.a.181 181 Noncurrent Noncurrent financial assets Debt instruments(loans and receivables)at amortized cost(AC)AC 260 260 260 of which collateral paid AC 32 32 Debt instruments at fair value through profit or l

221、oss(FVTPL)FVTPL 355 355 355 Equity instruments at fair value through profitor loss(FVTPL)FVTPL 1 1 1 Equity instruments at fair value through other comprehensive income(FVTOCI)FVTOCI 28 28 28 Derivatives with hedge accounting n.a.8 8 8 Derivatives without hedge accounting(M&A)at fair value through p

222、rofit or loss(FVTPL)FVTPL 28 28 28 Lease assets n.a.476 476 TOTAL ASSETS 15,820 14,611 28 32 492 657 1 The simplification option under IFRS 7.29a was exercised for the disclosure of certain fair values.Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Cale

223、ndar/Contact 33 2024 Half-year Report m Measure-ment category Carrying amount June 30,2024 IFRS 9 carrying amount IFRS 16 balance sheet carrying amount Fair value June 30,20241 At amortized cost At fair value through other comprehensive income(without reclassification)At fair value through other com

224、prehensive income(with reclassification)At fair value through profit or loss(FVTPL)EQUITY AND LIABILITIES Current Trade payables AC 8,035 8,035 Financial liabilities Bonds AC 1,710 1,710 1,677 Amounts due to banks AC 431 431 Lease liabilities n.a.2,363 2,363 n.a.Derivatives with hedge accounting n.a

225、.10 10 10 Derivatives without hedge accounting FVTPL 12 12 12 Other financial liabilities AC 1,628 1,628 Noncurrent Financial liabilities Bonds AC 5,476 5,476 5,192 Amounts due to banks AC 290 290 290 Lease liabilities n.a.12,059 12,059 n.a.Derivatives with hedge accounting n.a.2 2 2 Other financial

226、 liabilities AC 172 172 172 TOTAL EQUITY AND LIABILITIES 32,188 17,742 12 12 14,422 1 The simplification option under IFRS 7.29a was exercised for the disclosure of certain fair values.Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Calendar/Contact 34 2

227、024 Half-year Report m Measure-ment category Carrying amount December 31,2023 IFRS 9 carrying amount IFRS 16 balance sheet carrying amount Fair value December 31,20231 At amortized cost At fair value through other comprehensive income(without reclassification)At fair value through other comprehensiv

228、e income(with reclassification)At fair value through profit or loss(FVTPL)ASSETS Current Cash and cash equivalents AC 3,649 3,649 Trade receivables AC 10,537 10,537 Current financial assets Debt instruments(loans and receivables)at amortized cost(AC)AC 578 578 of which collateral paid AC 18 18 Debt

229、instruments at fair value through profit or loss(FVTPL)FVTPL 29 29 29 Derivatives with hedge accounting n.a.11 11 11 Derivatives without hedge accounting at fair value through profit or loss(FVTPL)FVTPL 44 44 44 Lease assets n.a.171 171 Noncurrent Noncurrent financial assets Debt instruments(loans a

230、nd receivables)at amortized cost(AC)AC 252 252 252 of which collateral paid AC 32 32 Debt instruments at fair value through profit or loss(FVTPL)FVTPL 306 306 306 Equity instruments at fair value through profit or loss(FVTPL)FVTPL 1 1 1 Equity instruments at fair value through other comprehensive in

231、come(FVTOCI)FVTOCI 24 24 24 Derivatives with hedge accounting n.a.2 2 2 Derivatives without hedge accounting(M&A)at fair value through profit or loss(FVTPL)FVTPL 25 25 25 Lease assets n.a.508 508 TOTAL ASSETS 16,137 15,016 24 13 405 679 1 The simplification option under IFRS 7.29a was exercised for

232、the disclosure of certain fair values.Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Calendar/Contact 35 2024 Half-year Report m Measure-ment category Carrying amount December 31,2023 IFRS 9 carrying amount IFRS 16 balance sheet carrying amount Fair val

233、ue December 31,20231 At amortized cost At fair value through other comprehensive income(without reclassification)At fair value through other comprehensive income(with reclassification)At fair value through profit or loss(FVTPL)EQUITY AND LIABILITIES Current Trade payables AC 8,479 8,479 Financial li

234、abilities Bonds AC 717 717 713 Amounts due to banks AC 256 256 Lease liabilities n.a.2,254 2,254 n.a.Derivatives with hedge accounting n.a.13 13 13 Derivatives without hedge accounting FVTPL 97 97 97 Other financial liabilities AC 1,442 1,442 Noncurrent Financial liabilities Bonds AC 5,472 5,472 5,1

235、95 Amounts due to banks AC 304 304 304 Lease liabilities n.a.11,826 11,826 n.a.Derivatives with hedge accounting n.a.6 6 6 Other financial liabilities AC 331 331 331 TOTAL EQUITY AND LIABILITIES 31,197 17,001 19 97 14,080 1 The simplification option under IFRS 7.29a was exercised for the disclosure

236、of certain fair values.AGGREGATION m Dec.31,2023 June 30,2024 Financial assets at amortized cost(AC)15,016 14,611 Financial assets at fair value through other comprehensive income(without reclassification)24 28 Financial assets at fair value through other comprehensive income(with reclassification)1

237、3 32 Financial assets at fair value through profit or loss 405 492 Financial liabilities at amortized cost(AC)17,001 17,742 Financial liabilities at fair value through other comprehensive income(with reclassification)19 12 Financial liabilities at fair value through profit or loss 97 12 The tables a

238、bove present the carrying amounts and the fair values of the individual financial assets and liabilities for each individual class in consideration of the respective measurement category under IFRS 9.Depending on the classification,the financial instruments are either recognized at amortized cost or

239、 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 simplif

240、ication rule of IFRS 7.29a has been applied.The carrying amounts of the current financial assets and liabilities mentioned are appropriate approximations of their fair values.Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Calendar/Contact 36 2024 Half-y

241、ear Report The fair values are reconciled to the fair value categories(Level 1 to 3).Level 1 comprises equity and debt instruments measured at fair value and debt instruments measured at amortized cost whose fair values can be determined based on quoted market prices.In addition to financial assets

242、and financial liabilities measured at amortized cost,commodity,interest rate and foreign currency derivatives are reported under Level 2.The fair values of assets measured at amortized cost are determined using the multiplier method,among other things.The fair values of the derivatives are measured

243、on the basis of discounted expected future cash flows,taking into account forward rates for currencies,interest rates and commodities(market approach).For this purpose,price quotations observable in the market(exchange rates,interest rates and commodity prices)are imported from standard market infor

244、mation platforms into the treasury management system.The price quotations reflect actual transactions involving similar instruments on an active market.All significant inputs used to measure derivatives are observable in the market.As of the reporting date,a call option and warrants are recognized u

245、nder Level 3 that entitle the holder to acquire further shares in the company.The fair values of the derivative financial instruments are determined on the basis of the Black-Scholes option pricing model.If possible,parameters observable on the market or derived from market data are used to determin

246、e the value.A volatility of 41%is taken into account for the call option and a volatility of 39%for the warrants.The volatilities are based on the volatilities of a comparable group of companies.No major fluctuations in earnings are to be expected with regard to the call option in the future.Because

247、 the warrants are based on a listed underlying share,there could be earnings fluctuations in the subsequent years.Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Calendar/Contact 37 2024 Half-year Report LEVEL DISCLOSURES December 31,2023 June 30,2024 m

248、Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial instruments not measured at fair value but whose fair value must be disclosed ASSETS Debt instruments(loans and receivables)at amortized cost(AC)252 252 260 260 EQUITY AND LIABILITIES Bonds 4,958 950 5,908 5,907 962 6,869 Amounts

249、due to banks 304 304 290 290 Other financial liabilities 331 331 172 172 Financial instruments at fair value ASSETS Debt instruments at fair value through profit or loss(FVTPL)335 335 387 387 Equity instruments at fair value through profit or loss(FVTPL)1 1 1 0 1 Equity instruments at fair value thr

250、ough other comprehensive income(FVTOCI)24 24 28 28 Derivatives with hedge accounting 13 13 32 32 Derivatives without hedge accounting at fair value through profit or loss(FVTPL)44 44 74 74 Derivatives without hedge accounting(M&A)at fair value through profit or loss(FVTPL)25 25 30 30 EQUITY AND LIAB

251、ILITIES Derivatives with hedge accounting 19 19 12 12 Derivatives without hedge accounting 97 97 12 12 Compared with December 31,2023,equity instruments changed as follows:UNOBSERVABLE INPUTS(LEVEL 3)Assets Equity derivatives m 2023 2024 Balance as of January 1 33 25 Profit recognized in the income

252、statement 8 7 Losses recognized in the income statement 16 2 Balance as of December 31/June 30 25 30 18 Contingent liabilities and other financial obligations At 1,125 million,contingent liabilities were on a level with the previous year,while the purchase obligation decreased by 35 million compared

253、 with December 31,2023,to 1,482 million.Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Calendar/Contact 38 2024 Half-year Report 19 Related-party disclosures There were no material changes with regard to related parties compared with December 31,2023.20

254、 Events after the reporting date/other disclosures Reforms to Germanys Postal Act(Postgesetz)entered into force on July 19,2024.The old Postal Act and its regulations,such as the Universal Postal Services Ordinance(Post-Universaldienstverordnung),the Postal Rate Regulation Act(Post-Entgeltregulierun

255、gsverordnung)and the Mail Guarantee Act(Postsicherstellungsgesetz),expired on that date.The new Postal Act contains a changed legal framework for regulating market access,postal rates and network access as well as for combatting market abuse and for protecting postal workers.There are also changes t

256、o some of the requirements for nationwide provision of postal services(universal postal service).Beyond that,there were no reportable events after the reporting date.Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Calendar/Contact 39 2024 Half-year Repor

257、t RESPONSIBILITY STATEMENT To the best of our knowledge,and in accordance with the applicable reporting principles for interim financial reporting,the condensed consolidated financial statements give a true and fair view of the assets,liabilities,financial position and profit or loss of the Group,an

258、d the Interim Group Management Report includes a fair review of the development and performance of the business and the position of the Group,together with a description of the principal opportunities and risks associated with the expected development of the Group for the remainder of the fiscal yea

259、r.Bonn,July 31,2024 Deutsche Post AG The Board of Management Dr.Tobias Meyer Oscar de Bok Pablo Ciano Nikola Hagleitner Melanie Kreis Dr.Thomas Ogilvie John Pearson Tim Scharwath Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Calendar/Contact 40 2024 Ha

260、lf-year Report REVIEW REPORT To Deutsche Post AG,Bonn We have reviewed the condensed interim consolidated financial statements of Deutsche Post AG,Bonn,which comprise the consolidated statement of profit and loss and the consolidated statement of comprehensive income,the consolidated balance sheet,t

261、he consolidated statement of cash flows,the consolidated statement of changes in equity as well as selected explanatory notes to the consolidated financial statements,and the interim group management report for the period from 1 January to 30 June 2024,that are part of the half-year financial inform

262、ation under Section 115 German Securities Trading Act(WpHG).The preparation of the condensed interim consolidated financial statements in accordance with the International Financial Reporting Standards(IFRS)applicable to interim financial reporting as adopted by the EU and of the interim group manag

263、ement report in accordance with the requirements of the WpHG applicable to interim group management reports is the responsibility of the executive directors of the Company.Our responsibility is to issue a review report on the condensed interim consolidated financial statements and on the interim gro

264、up management report based on our review.We conducted our review of the condensed interim consolidated financial statements and of the interim group management report in compliance with the German Generally Accepted Standards for Reviews of Financial Statements promulgated by the Institut der Wirtsc

265、haftsprfer(IDW)and in supplementary compliance with the International Standard on Review Engagements 2410“Review of Interim Financial Information Performed 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

266、preclude through critical evaluation that the condensed interim consolidated financial statements 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,i

267、n material respects,in accordance with the requirements of the WpHG applicable to interim group management reports.A review is limited primarily to inquiries of company personnel and to analytical procedures applied to financial data and thus provides less assurance than an audit.Since,in accordance

268、 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 believe that the condensed interim consolidated financial statements of Deutsche Post AG,Bonn,have not been prepared,in material respects,in

269、accordance with the IFRS applicable to interim financial reporting as adopted by the 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.Munich,31 July 2024 Deloitte GmbH

270、 Wirtschaftsprfungsgesellschaft Prof.Dr.Frank Beine Dr.Hendrik Nardmann Wirtschaftsprfer Wirtschaftsprfer(German Public Auditor)(German Public Auditor)Interim Group Management Report Condensed Consolidated Interim Financial Statements Financial Calendar/Contact 41 2024 Half-year Report Financial Cal

271、endar/Contact FINANCIAL CALENDAR 2024 November 5 Results of the first nine months of 2024 2025 March 6 Results of the 2024 fiscal year May 2 2025 Annual General Meeting May 7 Dividend payment May 8 Results of the first quarter of 2025 August 5 Results of the first half of 2025 November 6 Results of

272、the first nine months of 2025 Revised dates and information regarding live webcasts can be found on our Reporting Hub.CONTACT Deutsche Post AG Headquarters 53250 Bonn Germany Investor Relations Press Office Publication Published on August 1,2024.The English version of the 2024 Half-year Report of DH

273、L 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-looking statements This report contains forward-looking state

274、ments 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 report was completed.They should not be considered to be assurance

275、s 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”section)and are based on assumptions that may prove to be inaccurate.I

276、t 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 required 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.