Deutsche Post sees sharp rise in sales

30th July 2004, Comments 0 comments

30 July 2004, BONN - Deutsche Post AG, the German postal giant, saw an unexpectedly sharp rise in sales in the first half, up a whopping 11.6 percent to EUR 10.5 billion, much higher than had been anticipated.

30 July 2004

BONN - Deutsche Post AG, the German postal giant, saw an unexpectedly sharp rise in sales in the first half, up a whopping 11.6 percent to EUR 10.5 billion, much higher than had been anticipated.

Deutsche Post World Net reported a strong first half. Profit from operating activities (EBITA) rose by 14.5 percent to EUR 1.682 billion from EUR 1.469 billion in the year-earlier period.

Consolidated net profit rose 10.9 percent to EUR 721 million, Deutsche Post head Klaus Zumwinkel said.

Armed with those figures, he said year-end results should be up by between 7.5 and 12.5 percent, compared to the 5 to 10 percent rise that had been anticipated hitherto.

Zumwinkel attributed the sharp rise to revenues of some EUR 75 million from the Postbank AG subsidiary's entry onto the stock market.

Also, cost-cutting measures pared EUR 178 million.

Earnings per share increased to EUR 0.65 from EUR 0.58.

Second-quarter EBITA increased by 45.2 percent to EUR 752 million, while second-quarter net profit nearly doubled to EUR 280 million.

Deutsche Post World Net group revenue rose by 9.6 percent to about EUR 21 billion in the first half-year of 2004 from EUR 19.2 billion in the year-earlier period.

Revenue grew by 11.6 percent to EUR 10.5 billion in the second quarter.

The share of revenue generated outside of Germany rose by some 27 percent in the first half to about EUR 9.9 billion, comprising nearly 47 percent of total group revenue.

"We are very satisfied with our earnings performance this year, particularly the increases we were able to register in the second quarter," said Zumwinkel.

"Our internationalisation strategy is beginning to contribute handsomely to our overall results and we are competing vigorously throughout the world."

DPA

Subject: German news

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