Deutsche Post Sees EUR60 Million-EUR70 Million Hit to EBIT From Coronavirus in February
February 28 2020 - 8:08AM
Dow Jones News
By Carlo Martuscelli
Deutsche Post AG said Friday that it sees a hit to its earnings
before interest and tax of between 60 million and 70 million euros
($65.7 million-$76.6 million) in February, due to the coronavirus
epidemic.
The depressed earnings are a result of weaker trade volumes in
Asia, the German package-delivery and supply-chain-management
company said.
The company also said it was setting aside plans to pursue
partnership options for its StreetScooter electric-vehicles unit.
As a result, it expects to book a one-time charge of EUR300
million-EUR400 million.
The impact of the virus over the course of the rest of the year
is still difficult to gauge, the company said.
Deutsche Post said its 2020 guidance, which targets an EBIT of
more than EUR5 billion, is for now excluding the impact of the
novel coronavirus as well as the StreetScooter charge.
Due to the change in guidance, the company said it was making
public a number of its financial items ahead of its results on
March 10. Deutsche Post said revenue in 2019 rose 2.9% to EUR63.3
billion. Group EBIT grew by 31% to EUR4.13 billion.
At 1229 GMT, shares of Deutsche Post were down 3.6% to
EUR27.59.
Write to Carlo Martuscelli at carlo.martuscelli@wsj.com;
@carlomartu
(END) Dow Jones Newswires
February 28, 2020 07:53 ET (12:53 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Deutsche Post (PK) (USOTC:DPSGY)
Historical Stock Chart
From Mar 2024 to Apr 2024
Deutsche Post (PK) (USOTC:DPSGY)
Historical Stock Chart
From Apr 2023 to Apr 2024