On the wires: Will shining star DHL Global Forwarding offset weakness elsewhere within DP-DHL?

July 16, 2019 Alessandro Pasetti

“DP DHL will report Q2 results on the 6th August. In an environment of further weakening global trade volumes, we expect DP DHL 2Q19 EBIT to show resilience year/year. Taking as a starting point our DCF [Discounted Cash Flow] driven fair value for DHL Express, DP DHL trades today at ~15% discount to its SoTP [sum of the parts] assuming the other divisions would trade aligned with best in class peers. ...

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