DPSGY Deutsche Post AG (PK)

By Kim Richters

Deutsche Post AG on Tuesday confirmed its targets for 2022 and posted higher net profit for the first quarter.

The German freight-and-logistics group said quarterly net profit rose to 1.35 billion euros ($1.42 billion) from EUR1.19 billion a year earlier.

Revenue increased 19.8% to EUR22.59 billion, while earnings before interest and taxes rose 13% to EUR2.16 billion, it said.

"The first quarter saw the expected normalization in e-commerce. However, we were able to overcompensate that development with strong results in our global logistics activities," Chief Executive Frank Appel said.

Deutsche Post confirmed its 2022 guidance, which includes EBIT of EUR8 billion, plus or minus 5%. It also backed its medium-term targets.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

May 03, 2022 01:40 ET (05:40 GMT)

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