News / DP-DHL first-quarter profits drop by half as pandemic impacts operations

Deutsche Post-DHL saw its first-quarter operating profit this year halved by a combination of the coronavirus pandemic and one-off costs from the reorganisation of its StreetScooter business.

This morning, the German logistics giant reported Q1 revenue had grown by 0.9%, to €15.5bn ($16.8bn), while ebit dropped 49% to €592m.

It attributed €210m of the decline to coronavirus and €234m to StreetScooter, while last year’s sale of its supply chain business in China netted it €345m.

However, it said that all five divisions – ...