Bonn - Deutsche Post DHL Group increased its revenue by 1.4% to more than EUR 15 billion in the second quarter of 2018. On a comparable basis, i.e. after adjusting for currency effects and portfolio changes, revenue rose by 6.2%. This development was primarily driven by significant gains at DHL Express and Global Forwarding, Freight. Operating profit (EBIT) amounted to EUR 747 million, down by 11.2% against the record level of the prior-year period. All of the DHL divisions reported EBIT increases, some significant. However, earnings in the Post - eCommerce - Parcel division fell back as expected, above all due to higher transport and staff costs. As reported at the beginning of June, the Group has initiated a comprehensive program for PeP to raise productivity and improve the division's cost situation. This led to increased expenses and the recognition of first provisions in the second quarter.
"The second-quarter results were in line with expectations. Our three DHL divisions - Express, Global Forwarding, Freight and Supply Chain - performed well. We are clear about the challenges that face us at Post - eCommerce - Parcel and are implementing the measures for aligning the division toward long-term profitable growth," said Frank Appel, CEO of Deutsche Post DHL Group. "We are confident to reach our 2020 targets."
All in all, Deutsche Post DHL Group generated consolidated net profit after non-controlling interests of EUR 516 million in the second quarter of 2018 (2017: EUR 602 million). The decline is mainly attributable to lower EBIT at PeP. Basic earnings per share decreased accordingly to EUR 0.42 (2017: EUR 0.50).
Source: Deutsche Post DHL