Preview of second quarter: Deutsche Post World Net records strong growth in underlying EBITBonn, 07/23/2008, 11:30 AM CEST
Although there was some evidence of market growth slowing in Air Freight Forwarding and Express in the second quarter, Deutsche Post World Net still showed strong growth in underlying EBIT of around 18 percent. On an underlying basis all divisions met or exceeded last year's second-quarter results.
Revenue growth has been increased by higher fuel costs that were recovered from customers. At the same time, foreign exchange effects continued to reduce revenue growth compared with the year-earlier period.
The revenue increase before foreign exchange effects was approximately 9 percent in the second quarter and reported revenue increased by about 4 percent.
Based on the first-half results and assuming no significant worsening of the global economy, the Group is maintaining its full-year guidance for 2008 and expects underlying EBIT of 4.1 billion euros.
While the U.S. air express market continues to soften, measures to restructure DHL Express U.S. are on track and negotiations with UPS are making satisfactory progress. An update on this matter will be issued after the conclusion of negotiations with UPS.
The full set of half-year accounts will be released on July 31, 2008 at 07:00 CEST. A press conference with Chief Executive Officer Frank Appel and Chief Financial Officer John Allan will be held at 10 a.m. CEST. An investor call will be held at 14:00 CEST.