GERMANY's Deutsche Post
DHL Group second
quarter net profit declined 29.3 per cent to EUR326 million (US$357.4 million),
drawn on revenues of EUR14.7 billion, which increased 7.3 per cent year on
year.
The company
said the drop in profits should be viewed "against the backdrop of the
negative impact of the strike in the Post ?e-commerce ?Parcel (PeP) division.
As previously
reported, the strike, which focused on the status of the company's parcel
delivery agents, was resolved following an agreement between Deutsche Post DHL
and the union ver.di on July 5.
Deutsche Post
DHL described the deal as a "sustainable wage agreement that lays the
foundations for long-term growth in the German parcel business".
Operating
earnings at the PeP division contracted by 60.3 per cent to EUR75 million. The
company said that this development "principally reflects an impact of
EUR100 million from strike activities during the wage negotiations, in addition
to further investments in the expansion of the international e-commerce
business".
Deutsche Post
DHL added that PeP Q2 revenues grew 1.9 per cent to EUR3.7 billion.
As expected,
this overall revenue figure breaks down into growth in parcels and e-commerce,
and a continuing decline in traditional post.
Quarterly
revenues from the e-commerce ?Parcel units were up 12.2 per cent to EUR1.5
billion. The increase was based on revenue gains of 26.3 per cent in
e-commerce, 9.3 per cent in Parcel Germany and 8.6 per cent in Parcel Europe.
The company
statement said: "This positive development confirms that Deutsche Post DHL
Group continues to profit from its strong market position in the dynamically
growing e-commerce segment. Through investments in infrastructure and new,
innovative offerings, such as Parcel Boxes, the group is continually
strengthening this successful position."
In contrast,
Q2 revenues in the Post unit fell by 3.8 per cent to EUR2.3 billion.
Developments
were less positive in the Global, Forwarding, Freight division where operating
profit (EBIT) fell 60 per cent to EUR40 million.
Frank Appel,
CEO, Deutsche Post DHL Group, commented: "After the successful execution
of Strategy 2015, the current year represents a year of transition. In the
second quarter we worked very hard and took important steps towards the
successful implementation of our Strategy 2020. With that, we want to ensure
the long-term, profitable growth of the Group. To achieve this, we have
recorded some short-term impact on our results."
Source :
HKSG.
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