Deutsche Post 4Q Net Profit Fell, Expects Earnings Growth in 2019
March 07 2019 - 1:47AM
Dow Jones News
By Max Bernhard
Deutsche Post AG (DPW.XE) on Thursday reported a drop in
fourth-quarter profit but said it expects earnings to grow
significantly in the year ahead.
Net profit in the quarter fell 3% to 813.0 million euros ($919.0
million) from EUR837 million in the same period a year earlier, the
German postal company said. Revenue rose 5% to EUR16.93
billion.
Chief Executive Frank Appel said 2018 was a challenging year for
the company, but that its DHL divisions benefited from growth in
the global trade sector.
"In our German post and parcel business, we initiated measures
to secure the division's long-term EBIT growth--and we consciously
accept that this comes with a short-term burden on EBIT," he
said.
Earnings before interest and taxes in the fourth quarter were
EUR1.13 billion, 4% lower than in the same period a year ago.
Deutsche Post said for the year ahead, it expects EBIT of between
EUR3.9 billion and EUR4.3 billion.
The company proposed a stable dividend of EUR1.15 a share and
confirmed its 2020 guidance of at least EUR5.0 billion in operating
profit.
Write to Max Bernhard at max.bernhard@dowjones.com;
@mxbernhard
(END) Dow Jones Newswires
March 07, 2019 01:32 ET (06:32 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Deutsche Post (PK) (USOTC:DPSGY)
Historical Stock Chart
From Jun 2024 to Jul 2024
Deutsche Post (PK) (USOTC:DPSGY)
Historical Stock Chart
From Jul 2023 to Jul 2024