Trending: Deutsche Post Warns of Earnings Hit From Slowing Economy
March 09 2023 - 9:39AM
Dow Jones News
1409 GMT - DHL owner Deutsche Post AG is among the most
mentioned companies across news items over the past 12 hours,
according to Factiva data. The German logistics group expects
slowing economic growth to result in earnings before interests and
taxes for 2023 significantly lower than last year, which was a
record year for the company due to a strong performance in its
international operations. Chief Executive Frank Appel said the
company expects the first half of the year to be particularly
challenging. Deutsche Post saw signs of slowing economic momentum
in the fourth quarter. It reported results that beat expectations
on the top line and fell slightly short of forecasts at the EBIT
level, according to consensus estimates provided by the company.
However, the company increased its share buyback by 1 billion euros
($1.05 billion) to EUR3 billion over the 2022-24 and said it is
targeting a recovery in earnings in 2025. Dow Jones & Co. owns
Factiva. (adria.calatayud@dowjones.com)
(END) Dow Jones Newswires
March 09, 2023 09:24 ET (14:24 GMT)
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