Europe's biggest mail and express delivery company said it now saw earnings before interest and tax (EBIT) rising to 2.6-2.7 billion euros ($3.2-3.3 billion) this year, up from 2.44 billion last year and a previous outlook for 2.5-2.6 billion.
"We are still seeing good growth in Asia, with the exception of the tech sector," finance chief Larry Rosen told reporters on a conference call.
Deutsche Post's comments contrast with gloomy statements by rivals such as UPS and FedEx, which have warned of sluggish demand amid a weak global economy and have curbed shipping volumes.
"Things are a bit different than for our competitors because we have a broad network with which we benefit from intra-Asian trade," Rosen said.
Deutsche Post also benefits from its shrinking reliance on developed markets such as western Europe and the United States.
It saw the strongest demand for express shipments in Asia in the second quarter, and it saw the volume of international shipments with a guaranteed delivery time - the most expensive and profitable - rise 9.1 percent.
To ramp up international shipments to and from China, Deutsche Post opened an express delivery hub at Shanghai's international airport last month.
Shares in Deutsche Post rose 2.5 percent to 15.05 euros in early trade, while the German blue-chip index was down 0.1 percent.
Growth Ahead
Deutsche Post said it still expected the positive earnings trend to continue into 2013 and affirmed its medium-term target of improving EBIT at its DHL division by an annual average of 13-15 percent through 2015.
In the three months through June, adjusted EBIT rose 7.8 percent to 581 million euros, beating a consensus forecast of 568 million euros.
There were several one-off effects during the second quarter - including a negative one from the repayment of taxes to German authorities and a positive one related to restructuring in the United States - leading to a 3.4 percent decline in reported quarterly EBIT to 543 million euros.
But that was still above consensus of 393 million and above the most optimistic analyst estimate. Deutsche Post's net profit declined by more than a quarter to 201 million euros, but was still more than double the consensus forecast of 91 million.
Deutsche Post shares trade at 11.1 times 12-month forward earnings, according to Thomson Reuters StarMine, which weights analysts' estimates according to their track record. That is still a discount to the multiples of FedEx and UPS, which stand at 12.0 and 15.4, respectively. (Reuters)
