DPDHL: COVID-19 has cost the company 210 million euros

DPDHL: COVID-19 has cost the company 210 million euros

Deutsche Post DHL Group has announced it has maintained its profitable growth trajectory in the first quarter of 2020 despite the noticeable impact of the COVID-19 pandemic.

Revenue improved by 0.9% to EUR 15.5 billion, and operating profit (EBIT) came in at EUR 592 million. Adjusted for a pandemic-related negative earnings impact of EUR 210 million as well as negative effects of EUR 234 million incurred in the first quarter to realign the Group’s StreetScooter activities, operating profit stood at approximately EUR 1 billion.

This result came in around EUR 200 million over the prior-year figure adjusted for non-recurring items. The Group has with this confirmed the preliminary quarterly figures published in April.

Frank Appel, CEO of Deutsche Post DHL Group commented: “We are making an essential contribution to managing the crisis, with 550,000 employees in every country of the world and our unmatched global logistics network. Our mission involves transporting protective equipment and medicines, securing industry supply chains and helping to deliver supplies to local populations. We are proud of our teams, who make the impossible possible every day. They also form the basis for Deutsche Post DHL Group performing so well in the first quarter, despite the challenges seen across the globe.”

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