The mail and logistics company’s revenues for the quarter were driven down by negative currency effects and the sale of Williams Lea Tag.
Deutsche Post DHL Group’s consolidated net profit for the first quarter of 2018 tumbled 6.2 percent year-over-year to 631 million euros (U.S. $748 million), according to the company’s latest financial statements.
The mail and logistics company’s operating profit for the quarter rose by 2.3 percent year-over-year to 905 million euros, but still fell short of the Reuters poll projection of 960 million euros.
Group revenues also missed expectations of 15.15 billion euros, slipping 0.9 percent year-over-year to 14.7 billion euros, resulting from negative currency effects and the sale of Williams Lea Tag, a marketing and communications supply chain services provider. It had sold off the subsidiary in the fourth quarter of 2017 to private equity firm Advent International.
Deutsche Post DHL invested a total of 327 million euros across all four divisions between January and March to expand the domestic and international parcel infrastructure, step up production of the StreetScooter electric vehicles and modernize and expand the hubs and aircraft fleet used by DHL Express.
For the full year, Deutsche Post DHL expects capital expenditures to total around 2.5 billion euros.
Deutsche Post DHL falls short of analyst expectations
