Deutsche Post 1Q Profit Falls, Earnings Target Confirmed

   By Max Bernhard

Deutsche Post AG (DPW.XE) said Tuesday that its net profit fell 5.2% in the first quarter, as revenue edged lower.

Net profit fell to 600 million euros ($716.0 million) from EUR633 million in the same period a year earlier, as revenue decreased 0.9% to EUR14.75 billion, mostly due to negative currency effects and the sale of subsidiary Williams Lea Tag, Deutsche Post said.

Earnings before interest and taxes rose 2.3% to EUR905 million from EUR885 million.

Deutsche Post confirmed its earnings guidance for the year, still forecasting EBIT of around EUR4.15 billion in 2018.

"Overall, we had a good start to the year, although we still have a lot of work ahead of us during the remainder of the year," said Frank Appel, chief executive of Deutsche Post. The company's most important growth driver, the global e-commerce market, continues to expand, he added.

Write to Max Bernhard at Max.Bernhard@dowjones.com; @mxbernhard

(END) Dow Jones Newswires

May 08, 2018 01:30 ET (05:30 GMT)

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