Deutsche Post Q1 profits surge

Deutsche Post, the world's biggest postal and logistics company, said Tuesday that its first quarter net profit leapt by 80 percent to €1.7 billion.

Deutsche Post Q1 profits surge
Photo: DPA

Analysts polled by Dow Jones Newswires had forecast a 49 percent increase to €1.4 billion owing to a change in accounting standards and strict focus on controlling costs.

An economic rebound boosted the group’s logistics activities more than expected however, with core earnings posting a jump of 81 percent to €566 million on sales that gained 4.4 percent to €12 billion.

Maritime transport showed particularly strong results, as did DHL express package services.

The overall results were also boosted by “a significant positive effect” generated by financial instruments related to the sale of the retail banking unit Postbank to Germany’s largest bank, Deutsche Bank.

“We have broadly improved our performance,” a statement quoted Deutsche Post chief executive Frank Appel as saying. “But there is much more to accomplish,” Appel added.

“We will continue to press forward with the implementation of our Strategy 2015 and unlock the Group’s full potential step by step.”

The group, which employs some 500,000 people worldwide, has focused on efficiency gains and expects to pursue that path this year as well.

Deutsche Post confirmed its full-year 2010 outlook of operating profit before exceptional items between €1.6 to €1.9 billion, and said it “expected to finish the year at the upper end of the forecast range.”

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‘A new generation of stamps’: Deutsche Post rolls out QR-style tracking codes

German stamps will soon be kitted out with individual matrix codes to help stop letters getting lost in the mail, national postal company Deutsche Post said Tuesday.

'A new generation of stamps': Deutsche Post rolls out QR-style tracking codes
The new stamp reading 'digital change' and with a QR tracking code. Photo: DPA

Customers will be able to use the codes to track when a letter has arrived in the local processing centre and when it has reached its destination region, Deutsche Post said.

The codes, which are similar to QR codes, will sit alongside the traditional images in what will be “a new generation of stamps”, according to the company.

READ ALSO: How sending parcels in Germany changed in January 2021

“Stamps with matrix codes make our service even more reliable — and the stamps more interesting,” said Tobias Meyer, head of the company's German post and parcel division.

The first stamps featuring the codes will be rolled out from Thursday, with more to follow later in the year.

By 2022, they will be featured on all German stamps.

However, the codes do not allow for full parcel-style tracking and they will not tell customers whether a letter has actually been delivered.

DHL owner Deutsche Post reported record results in January as the pandemic fuels a package boom spurred by online shopping.

Revenues climbed five percent year-on-year to 66.8, buoyed by strong performances from the parcels and express units.