Deutsche Post (DPW) AG’s fourth-quarter profit rose as Europe’s largest postal company benefited from increased online commerce and growth in emerging economies.
Earnings before interest and taxes rose 7 percent to 885 million euros ($1.23 billion), the Bonn-based company said today. That compares with the average analyst estimate of 873 million euros compiled by Bloomberg. Sales fell 0.6 percent to 14.5 billion euros, meeting analyst expectations. The company plans to pay a dividend of 0.80 euros a share for 2013.
Chief Executive Officer Frank Appel has sought to stabilize earnings and avoid most of the effects of recessions in Europe that had left freight companies struggling to maintain earnings, focusing on German parcel deliveries and time definite shipments to and from Asia.
“We took a significant step forward in 2013,” Appel said in the statement. “We will continue to work hard to reach our 2015 goals given the continued sluggish global economic environment,” he said.
Parcel volumes in Germany rose 7.4 percent to 1.03 billion units last year. Deutsche Post profit by 2015 will amount to 3.35 billion euros to 3.55 billion euros, the company reiterated. This year, profit will rise to between 2.9 billion euros and 3.1 billion euros, the company said.
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