Deutsche Post AG, Europe’s largest postal service and parent of DHL, announced Thursday, Nov. 8, that third-quarter earnings were down 35 percent as declining U.S. shipments hurt express-unit earnings.
Net income declined to 350 million euros ($513 million) from 535 million euros ($785 million) during the year-ago period, Deutsche Post said. Revenue increased 5 percent to 15.6 billion euros ($22.9 billion).
Deutsche Post said it doesn’t expect business in the Americas region, which includes DHL’s U.S. express operations, to be profitable by the end of 2009.
Deutsche Post wants to “reward our shareholders better” and become “the most attractive investment in the sector,” said John Allen, chief financial officer of the Bonn, Germany-based company.