DPSGY Deutsche Post AG (PK)

By William Wilkes

FRANKFURT--Deutsche Post AG (DPW.XE) Tuesday said it will buy back up to 1 billion euros ($1.1 billion) of its own stock as it confirmed its mid-term targets.

The German logistics company said the shares would either be cancelled or used to meet other obligations. The company said the buyback "is to be seen against the background of the strong free cash flow generation," as well as having met its operating profit guidance for 2015.

Deutsche Post also confirmed its financial targets for 2016 and 2020. The company is scheduled to report 2015 results on Wednesday.

Write to William Wilkes at william.wilkes@wsj.com

(END) Dow Jones Newswires

March 08, 2016 09:12 ET (14:12 GMT)

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