FRANKFURT--German mail and logistics company Deutsche Post DHL
said Wednesday its fourth-quarter net profit fell as the
year-earlier figure was inflated by positive tax effects and lower
financial charges.
Fourth-quarter net profit fell 17% to 640 million euros ($685
million) from EUR772 million a year earlier. Analysts had expected
net profit to fall to EUR666 million, according to a Wall Street
Journal poll. Sales increased 6.3% to EUR15.4 billion, slightly
below analysts' expectations of EUR14.87 billion. Operating profit
increased only 1.9% to EUR905 million, due in part to a positive
one-time effect last year in the company's supply-chain
division.
The company plans to pay a EUR0.85 per-share dividend for 2014,
compared with EUR0.80 for 2013.
The company confirmed its guidance for 2015, saying it still
expects operating earnings to rise to between EUR3.05 billion and
EUR3.2 billion.
"Despite a still challenging environment we delivered a solid
performance in 2014, by building on our strong market position in
E-Commerce and emerging markets," said Chief Executive Frank
Appel.
The German company, which had been struggling for years due to
Internet-based alternatives for communication, also stuck to its
long-term growth outlook, saying it targets an operating profit of
EUR3.4 billion to EUR3.7 billion in 2016.
Write to Natascha Divac at natascha.divac@wsj.com
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