By Pietro Lombardi

Deutsche Post AG has raised its 2022 outlook after the good performance last year and forecasts higher earnings in coming years.

The German freight-and-logistics group said Tuesday that it expects 2021 earnings before interest and taxes to be higher than in 2020--when compared with the underlying figure--and to further grow in 2022.

The company raised the outlook for aggregated free cash flow for the period 2020 to 2022 to more than 6 billion euros ($7.29 billion) from a previous guidance of between EUR5 billion and EUR6 billion. Gross capex for the period is seen at roughly EUR9.5 billion.

The outlook comes after the company beat its earnings target for the year. Operating profit for 2020 was EUR4.84 billion, according to preliminary figures, beating the company's EUR4.1 billion to EUR4.4 billion guidance.

Revenue rose 5% to EUR66.8 billion, boosted by e-commerce.

"2020 was an exceptional year: despite all the challenges faced, we achieved a record result," Chief Executive Frank Appel said.

The company will publish its results for the year on March 9, when it will also give a detailed outlook for 2021 and 2023.

Write to Pietro Lombardi at pietro.lombardi@wsj.com; @pietrolombard10

(END) Dow Jones Newswires

01-12-21 1101ET