Courier giant Deutsche Post DHL (DPSTF.PK, DEUPF.PK) Tuesday reported a decline in its first-quarter profit, amid a loss of around 2.5 working days in Germany as well as non-recurrence of a one-time gain last year. Revenues slightly increased mainly due to volume and revenue growth in international express business as well as parcel segment in Germany.
Looking ahead, the Group expects the world's economy to generate moderate growth in 2013, and confirmed its guidance for full-year 2013. CEO Frank Appel said, "We are making good progress toward meeting our mid-range targets."
The German postal and logistics firm posted quarterly consolidated net profit of 498 million euros, lower than 529 million euros in the previous year. On a per share basis, earnings declined to 0.40 euros per share from 0.44 euros per share last year.
Excluding positive one-time effects related to Postbank transaction of 186 million euros last year, adjusted net income was nearly 500 million euros in the recent quarter.
Profit from operating activities or EBIT grew 2.9 percent to 711 million euros. DHL division's EBIT improved 4 percent to 427 million euros.
Group's revenues for the first quarter edged up 0.6 percent to 13.44 billion euros from 13.36 billion euros in the same quarter last year. Adjusted for exchange-rate effects and inorganic factors, revenues improved 1.5 percent from a year earlier. International revenues totaled 9.18 billion euros, up from 9.10 billion euros a year ago.
MAIL division revenues grew 1.5 percent to 3.61 billion euros. Express division revenues were 3.04 billion euros, slightly up from 3.02 billion euros last year.
For full-year 2013, Deutsche Post still expects EBIT to increase to between 2.7 billion euros and 2.95 billion euros.
"Even though we have yet to feel any sort of economic tailwind, we were able to get off to a solid start in the new year...and our determination to continuously simplify processes, we can reliably deliver profitable growth," Appel said.
On Frankfurt's Xetra, Deutsche Post shares are currently trading at 19.49 euros, up 3.53 percent, on a volume of 1.14 million shares.
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