Deutsche Post 3Q Net Profit, Revenue Rose Amid E-Commerce Surge
November 10 2020 - 1:55AM
Dow Jones News
By Mauro Orru
Deutsche Post AG said Tuesday that net profit and revenue for
the third quarter increased on the back of a surge in global
e-commerce activities.
The German freight-and-logistics group reported net profit rose
to 851 million euros ($1.01 billion) from EUR561 million a year
earlier.
Revenue climbed to EUR16.24 billion from EUR15.55 billion.
Deutsche Post reported quarterly earnings before interest and
taxes of EUR1.38 billion. The company said in early October that
quarterly EBIT rose to about EUR1.37 billion from EUR942 million,
citing preliminary figures.
At the time, the company also raised its 2020 guidance ahead of
what it called a "very strong peak season," projecting yearly EBIT
between EUR4.1 billion and EUR4.4 billion compared with EUR3.5
billion-EUR3.8 billion previously.
The company Tuesday further increased its 2020 free-cash-flow
guidance to more than EUR2 billion from the more than EUR1.8
billion it projected in October.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
November 10, 2020 01:40 ET (06:40 GMT)
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