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Deutsche Post lifts lower end of 2019 operating earnings guidance

Deutsche Post AG lifted the lower end of its operating earnings guidance for full year 2019, saying it expects earnings to further improve in the second half due to improved productivity of its Post & Parcel division and a rise in the postage rate as of July 1.

The German logistics company now expects earnings before interest and tax in the range of €4.0 billion and €4.3 billion, compared to its previous guidance of between €3.9 billion and €4.3 billion.

The Post & Parcel division's contribution to the operating profit is expected to fall in the range of €1.1 billion and €1.3 billion, compared with the previous range of €1.0 billion to €1.3 billion.

The company's second-quarter revenue rose 3% year over year to €15.48 billion and operating profit gained 2.9% to €769 million. EBIT growth of the group was curtailed by restructuring expenses in the supply chain and e-commerce solutions divisions.

Earnings from the Post & Parcel Germany division turned positive for the first time since the fourth quarter of 2017, according to the company release.

The company maintained its guidance for 2020, with group EBIT expected to rise to more than €5.0 billion.

The company's share price was 4.32% higher as of 3:23 p.m. local time.