By Sarah Sloat
FRANKFURT--Deutsche Post AG (DPW.XE) on Wednesday cut its
earnings outlook for 2015 after second-quarter net profit fell more
than expected due to strike-related costs and restructuring.
Net profit for the second quarter declined to 326 million euros
($356 million) from EUR461 million a year earlier, while revenue
rose 7.3% to EUR14.7 billion. The revenue figure was in line with
analysts' forecasts. Expectations were for net profit of EUR411
million.
Earnings before interest and taxes fell 18% to EUR537 million
from EUR656 million, with strike costs in the quarter in the
Post-ecommerce-Parcel division taking EUR100 million off those
earnings.
The company cut its 2015 Ebit forecast to a range of EUR2.95
billion to EUR3.1 billion from EUR3.05 billion to EUR3.2 billion
previously. It upheld its Ebit target for 2016.
"The current year represents a year of transition," said Chief
Executive Frank Appel, who said restructuring measures implemented
this year are aimed at ensuring profitable growth.
Write to Sarah Sloat at sarah.sloat@wsj.com
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