Deutsche Post 4Q Profit Rose; Plans to Buy Back Up to EUR2 Billion in Shares
09 März 2022 - 08:02AM
Dow Jones News
By Olivia Bugault
Deutsche Post AG said Wednesday that net profit for the fourth
quarter rose, and that it would initiate a new share-buyback
program.
The German freight-and-logistics group said quarterly net profit
rose to 1.48 billion euros ($1.61 billion) from EUR1.30 billion a
year earlier.
Quarterly revenue rose 22% to EUR23.38 billion, while earnings
before interest and taxes increased 13% to EUR2.21 billion, it
said.
Deutsche Post said it expects its EBIT to come in at EUR8
billion this year, plus or minus 5% and assuming e-commerce will
remain strong, which compares with EUR7.98 billion for 2021.
The company also proposed a dividend of EUR1.80 a share for
2021, up from EUR1.35 the year prior.
"In view of the positive business development, the Board of
Management and Supervisory Board have again decided to implement a
share buyback program with a volume of up to EUR2 billion,"
Deutsche Post said.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
March 09, 2022 01:47 ET (06:47 GMT)
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