Deutsche Post's Q4 profit falls 64% year-over-year to €175M as sales rise 2.1% year-over-year to €14.1B; valuation of financial instruments related to Postbank deal had negative impact on earnings of more than €400M, company says
March 8, 2012
– Fourth quarter of 2011
During the final quarter of the year, the company continued on its growth path with revenues rising to EUR 14.1 billion (+2.1%). Adjusted for exchange-rate and consolidation effects, the Group boosted fourth-quarter revenues in 2011 by nearly EUR 500 million (+3.5%) compared with the same quarter in the previous year. Fueled by this rise in revenues and the Group's increased efficiency, the company's operating earnings rose by 14.1 percent to EUR 599 million. While the Group's logistics division made the biggest contribution to the Group's EBIT and its growth during this period, the MAIL division also delivered a year-over-year increase.
The valuation of financial instruments related to the Postbank transaction also had an effect on the net financial result in the fourth quarter and - compared with the same period last year - had a negative impact of more than EUR 400 million on the development of the Group's net profit. As a result, consolidated net profit fell to EUR 175 million (2010: EUR 487 million), and earnings per share decreased to EUR 0.14 (2010: EUR 0.40). If the Postbank valuation effects were excluded for both years, consolidated net profit and earnings per share would have risen by more than 46 percent in the fourth quarter as a result of the operating improvements to EUR 369 million (2010: EUR 252 million) or EUR 0.31 per share (2010: EUR 0.21), respectively.