Deutsche Post Backs 2023 Outlook After Falls in 1Q Earnings, Revenue
May 03 2023 - 1:49AM
Dow Jones News
By Adria Calatayud
DHL owner Deutsche Post on Wednesday confirmed its 2023 outlook
after it said a global economic slowdown weighed on its
first-quarter performance, with earnings and revenue lower than in
the year-earlier period but ahead of consensus views.
The German logistics group said it made a quarterly net profit
of 911 million euros ($1 billion) compared with EUR1.35 billion in
the year-earlier period, on revenue that declined 7.4% to EUR20.92
billion.
Earnings before interests and taxes fell to EUR1.64 billion from
EUR2.16 billion.
Analysts had forecast Deutsche Post's net profit at EUR868
million, EBIT at EUR1.46 billion and revenue at EUR20.57 billion,
according to consensus estimates provided by the company.
"We anticipated the slowdown in global growth momentum at an
early stage and were able to respond efficiently," Deutsche Post
DHL Group Chief Executive designate Tobias Meyer said.
The company reiterated its 2023 guidance, which calls for EBIT
of between EUR6 billion and EUR7 billion, as well as its
earnings-growth target for 2025.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
May 03, 2023 01:34 ET (05:34 GMT)
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