By Ed Frankl

Deutsche Post AG said Thursday that it raised its full-year guidance off the back a strong performance in the third quarter.

Earnings before interest and taxes in the three months to the end of September reached around 1.77 billion euros ($2.05 billion), compared with EUR1.38 billion in the same period of last year, the postage and logistics company said.

In the first nine months of 2021, EBIT came to around EUR5.76 billion, it said.

The Bonn, Germany-based company said that the positive development of the group's businesses--including the tight capacity market both in ocean and air-freight markets--in the first half of the year continued through the third quarter.

Deutsche Post also raised its guidance for fiscal 2021 for EBIT and free cash flow, driven by the strong development in its DHL division.

It previously said it saw 2021 EBIT at more than EUR7 billion.

For the year to date, free cashflow stands at EUR3.1 billion against EUR1.46 billion last year, the company said. However, FCF in the third quarter was more than EUR 1.0 billion, below a figure of EUR1.26 billion at the same point last year.

The company's midterm guidance for 2023 will be subject to upward revision, it added. Previous guidance for 2023 was more than EUR7.4 billion.

The full details of revised forecasts will be published at its earnings release on Nov. 4, Deutsche Post said.

Write to Ed Frankl at edward.frankl@dowjones.com

(END) Dow Jones Newswires

10-07-21 0954ET