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Annika Kintscher, Euro on Sunday
The yellow giant has been suffering for months: the Deutsche Post company dealing with domestic parcels and parcel deliveries is called Post eCommerce Parcel (PeP). Ironically, the package boom burdens the Bonn Group at the expense of the explosion.
At the beginning of June, CEO Frank Appel decided on a comprehensive restructuring of the ailing department. The performance of the PeP segment should increase and the processes should be optimized in terms of sorting and delivery, for example. The boss points to an improvement that should soon take place: "The effects will be visible in the coming year," promised Appel.
For now, the building leaves deep traces in the consolidated balance sheet. In the last quarter, the restructuring costs amounted to EUR 392 million. In general, the conversion will cost about half a billion euros and will be completely reserved by the end of the year.
As a result, operating profit (EBIT) decreased by 55 percent to EUR 376 million in the third quarter compared to the same quarter of the previous year. Consolidated profits fell by more than 77 percent to 146 million euros. Only in terms of sales, Deutsche Post increased by 1.4 percent. Up to EUR 14.8 billion. Adjusted for currency inflows and the purchase and sale of parts of the enterprise, this would even amount to almost five percent. The PeP division also recorded a small increase in sales of 0.6 percent in the third quarter.
Better than expected
In general, it was not as bad as expected at Deutsche Post in the summer months. Analysts expected a higher EBIT decline, they calculated an average of 339 million euros. Above all, three DHL Express, Freight and Logistics divisions of the supply chain ensure buoyancy.
Appel sees DHL as an earnings driver for the coming years. It wants to reach the target of over EUR 5 billion by 2020. This year, the head expects EUR 3.2 billion. Analysts were satisfied that there were no further changes in the annual forecast and forecast.
But not only DHL divisions should evaluate it now. From July 1, the Group has already raised prices for shipping books and goods. There should also be an increase in the price of letters for the coming year. But here, Appel must be patient. Due to the reorganization, the Federal Agency for Networks can not currently assess which increase in postage will be appropriate. According to media reports, the room increased from 70 to 80 cents.
Are high conversion costs bearing fruit firstespecially in the pre-holiday period. In recent years, Deutsche Post has had great problems dealing with the ever-increasing mass of packages. In addition, it was necessary to employ expensive transport capacities and temporary workers. This should change in the future.
Quarterly quarters were well received by stockbrokers. The last weak share – from prices above EUR 40 at the beginning of the year to below EUR 28 in October – stabilizes quickly. Nevertheless, from January this means a fall in prices by almost 27 percent.
Image sources: Deutsche Post DHL, Deutsche Post, Cineberg / Shutterstock.com