Deutsche Post DHL Group's freight unit has to improve significantly to make sure the German logistics group hits its 2020 targets, its chief financial officer told a German newspaper. The group last month said it expects earnings before interest and tax (EBIT) to rise to more than 5 billion euros ($6.14 billion) in 2020, from 3.74 billion euros last year.
"To reach our 2020 targets, the freight business has to deliver a significantly bigger contribution compared with 2017," Melanie Kreis said in an interview with Boersen-Zeitung published on Saturday. The group's freight division, where a planned renewal of its IT systems previously ran into problems, saw EBIT increase by 18.3 percent in the fourth quarter, with significant improvements expected for 2018.
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