German postal and logistics giant Deutsche Post said Wednesday it met its earnings targets last year thanks to the strong performance of its international express and German parcel business and remains confident for the current year.
"Despite a still challenging environment we delivered a solid performance in 2014, by building on our strong market position in e-commerce and emerging markets," said chief executive Frank Appel.
Net profit slipped by 1.0 percent to 2.071 billion euros ($2.2 billion) last year, the group said.
But underlying or operating profit climbed by 3.5 percent to 2.965 billion euros on a 3.1 percent increase in revenues to 56.63 billion euros.
Sales growth was "supported by steady volume and revenue gains in the international express and German parcel businesses in particular," the statement said.
The former state monopolist has been able to make up for the decline in its traditional letter delivery business expanding its online commerce and parcel delivery.
The group's Post-eCommerce-Parcel (PeP) division booked a 2.6 percent increase in revenues to 15.7 billion euros, and the express delivery division reported an increase of 5.7 percent to 12.5 billion euros.
Looking ahead, Deutsche Post said it was confident for business this year and next.
"Although the world economy is projected to continue to see only moderate growth, and with further strategic investments planned, the group still expects 2015 to be a year of growth," Appel said.
Deutsche Post is targeting operating earnings of 3.05 to 3.2 billion euros in 2015 and 3.4 to 3.7 billion euros in 2016, he added.