Deutsche Post DHL’s consolidated net profit in Q3 of this financial year fell to €146 million from €641 million in the same period last year.

Revenues at Deutsche Post DHL however increased by 1.4% to €14.85bn.

The net profit decline at the firm is attributed to a lower EBIT in the Parcel (PeP) division. In view of the challenges in this division, Deutsche Post DHL adjusted its forecast for the coming financial year. It is however set to meet its earnings target for the full year.

Adjusted for currency effects and portfolio changes, revenues grew organically by 4.7%. Revenues saw better growth at Express and Global Forwarding, while Freight grew strongly due to the booming e-commerce business and improved international trade flows. It is worthy of note that all divisions saw increases in EBIT.

Frank Appel, CEO of Deutsche Post DHL Group commented on today’s results: “Deutsche Post DHL Group remains in good shape with our fundamental growth drivers intact. This is especially evident in the continued good performance of our DHL Express, Global Forwarding, Freight, and Supply Chain divisions in the third quarter. We are tackling the challenges in our Post – eCommerce – Parcel division with determination and are making good progress in implementing the announced measures to improve productivity and the cost structure. The results of our efforts will already be clearly visible over the coming year…We are confident that we will reach our earnings targets for 2018 and 2020 despite the significant rise in macroeconomic risk factors in recent months due to trade disputes and currency fluctuations, for example.”