Deutsche Post World Net: First quarter on target
Deutsche Post World Net started the year of 2008 with solid performance in the first quarter: Underlying EBIT rose 6.4 percent to around 1 billion euros, meeting the Group’s own targets. That was despite the fact that the quarter had two working days less than the year-earlier period.
Reported EBIT declined 14.7 percent to 851 million euros due to non-recurring expenses at Deutsche Postbank tied to the crisis on the financial markets. Revenue totaled 15.7 billion euros, up 1.8 percent from the year-earlier period, excluding negative currency effects the increase was around 6 percent.
Deutsche Post World Net is aware of the uncertainties in the world economic development. Even so, at this point in time, the Group has no reason to change its full-year earnings forecast of around 4.2 billion euros in EBIT before non-recurring effects and around 3.2 billion euros in pretax profit.
The MAIL division projects EBIT of around 1.95 billion euros for 2008. The EXPRESS division is expected to generate EBIT of around 500 million euros, while the LOGISTICS division is scheduled to increase EBIT to around 1.05 billion. The FINANCIAL SERVICES segment projects EBIT of around 1.2 billion euros. A loss of around 550 million euros is forecast for Corporate Center / Other.
The guidance of around 4.7 billion euros in EBIT before non-recurring effects for 2009 has also been reaffirmed.
Read More
