DPWN Net Income Down, but Express Starts To Impress

DHL parent’s profit down in 2006

German mail, express and logistics giant Deutsche Post World Net, owners of DHL, reported a group net income of 1.9 billion euros ($2.5 billion) in 2006, down 14.3 percent compared to 2.2 billion euros in the previous year.

“One reason for this decrease was that the group reduced its stake in Postbank to 50 percent plus one share during the past year,” Deutsche Post said in a statement.

Operating profit at Deutsche Post’s enlarged logistics unit, comprising DHL Exel Supply Chain and DHL Global Forwarding, more than doubled in 2006 to 762 million euros ($999.3 million) from 346 million euros in 2005.

The express division posted an operating profit of 325 million euros ($426.2 million), compared to a loss of 23 million euros a year before.

Group operating income increased 2.9 percent to 3.9 billion euros ($5.1 billion) while annual group revenue soared 35.8 percent to 60.5 billion euros ($79.4 billion).

The company’s management will present the full accounts for 2006 on March 20, when a guidance for 2007 will be made.