Deutsche Post will show loss
Deutsche Post World Net said it will show a net loss for the second quarter after it set aside €850 million ($833 million) to cover the repayment of illegal state subsidies.
Industry analysts pegged the loss at between $196-294 million for the quarter.
Deutsche Post set aside the “special reserve” after the European Union in June ordered it to repay $543 million to the German government after finding that DP used profits from its domestic mail monopoly to subsidize its unprofitable parcel delivery unit.
Deutsche Post will release earnings results on Wednesday.
