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Deutsche Post reports rise in Q1 earnings, confirms guidance

Deutsche Post reports rise in Q1 earnings, confirms guidance
Deutsche Post reports rise in Q1 earnings, confirms guidance   -   Copyright  Thomson Reuters 2022
By Reuters

BERLIN – German logistics company Deutsche Post reported a rise in first quarter revenue and operating profit on Tuesday and confirmed its financial targets for 2022-2024.

Revenue in the first quarter rose by 19.8% to 22.6 billion euros ($23.74 billion) and earnings before interest and tax (EBIT) came in at 2.2 billion euros, up from 1.9 billion in the same period last year.

“We had a good start to the year and once again demonstrated the strengths of our portfolio in a challenging environment,” Chief Executive Frank Appel said in a statement.

The group reiterated its expectations for full-year EBIT of 8.0 billion euros (+/- 5%), and expects EBIT to rise to around 8.5 billion in 2024.

“Following the outbreak of war, global trade has so far proven resilient, yet we are closely monitoring the increasing challenges to global economic development,” Appel said.

($1 = 0.9520 euros)