Deutsche Post Lowers 2018 Guidance Amid Restructuring
June 08 2018 - 6:22AM
Dow Jones News
By Nathan Allen
Deutsche Post AG (DPW.XE) said Friday that it is lowering its
guidance for 2018 earnings as it launches a series of measures
aimed at improving declining profits at its post, ecommerce and
parcel division.
The group said the measures mainly target improvements in
productivity, indirect cost and yield management in the
post-and-parcel business.
Deutsche Post expects 2018 earnings before interest and taxes,
or EBIT, to be around 3.2 billion euros ($3.78 billion) compared
with an earlier estimate of EUR4.15 billion. The company said it
expects to book a EUR500 million charge in 2018 related to the
restructuring.
The group left its 2020 EBIT target of more than EUR5 billion
unchanged and said it expects the program to lead to a EUR200
million reduction in annual costs by 2020.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
June 08, 2018 06:07 ET (10:07 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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