Revenue rose by a total of €440 million (2.7%) year over year. Revenue from the German letter mail business was €6,998 million in the year under review and thus 2.7% below the prior-year level of €7,193 million. Of this revenue, €4,438 million (previous year: €4,569 million) was attributable to Mail Communication, €1,513 million (previous year: €1,653 million) to Dialogue Marketing and €1,047 million (previous year: €971 million) to other services. Revenue in the German parcel business in the reporting year was €6,949 million, exceeding the prior-year figure of €6,452 million by 7.7%. This is primarily attributable to higher shipment volumes and intra-Group remuneration. Revenue of €2,246 million (previous year: €2,153 million) was reported for our International business unit in the year under review. Other revenue amounted to €795 million (previous year: €750 million) and included mainly income from rental agreements and leases, income from service level agreements and reimbursements for employee leasing.
INCOME STATEMENT FOR DEUTSCHE POST AG (HGB) – JANUARY 1 TO DECEMBER 31
€m
2023
2024
Revenue
16,548
16,988
Other own work capitalized
101
110
Other operating income
1,034
1,183
17,683
18,281
Material expense
–5,988
–6,278
Staff costs
–9,090
–9,335
Amortization of intangible assets and depreciation of tangible fixed assets
–352
–385
Other operating expenses
–2,528
–2,532
–17,958
–18,530
Financial result
3,403
3,410
Taxes on income
–342
–336
Result after tax/Net profit for the period
2,786
2,825
Retained profits brought forward from previous year
6,430
6,047
Income from capital reduction
0
39
Allocation to capital reserves pursuant to Section 237 (5) AktG
0
–39
Net retained profit
9,216
8,872
Other operating income registered a year-over-year increase of €149 million, or 14.4%, driven mainly by increased tax refunds for previous years and higher income from the reversal of provisions.
With higher costs on account of inflation, material expense rose by €290 million. This was particularly due to an increase in the cost of transport services for letters and parcels as well as an increase for leases and rents.
Staff costs grew by €245 million, with the impact of the collectively agreed pay increase being felt from April 2024 onward.
Other operating expenses remained almost unchanged from the previous year at €4 million.
The financial result in the amount of €3,410 million mainly comprises net investment income of €2,762 million (previous year: €2,864 million) and a net interest income of €646 million (previous year: €541 million). The change in net investment income was due to the €134 million decrease in income from profit transfer agreements attributable to Deutsche Post Beteiligungen Holding GmbH, whose earnings were the result of higher intra-Group interest expenses and income from investments. Income from the discounting of provisions and higher intra-Group interest income due to increased interest rates in the market environment led to the improvement in net interest income of Deutsche Post AG.
After accounting for income taxes of €336 million, net profit for the period totaled €2,825 million. Including retained profits carried forward, net retained profit for the period amounted to €8,872 million.
