Deutsche Post DHL Group reported a sharp slump in its net profits Tuesday, hurt by one-time restructuring costs in the company's parcel business.
The group reported a consolidated net profit of 146 million euros ($167 million) for the third quarter of this year, a 77 percent drop from the 641 million euros reported in the same period last year.
The group saw its revenue improve to 14.8 billion euros in the quarter — an increase of 1.4 percent from last year. This, the group said, was attributable to its growing e-commerce unit.
Speaking to CNBC's "Squawk Box Europe" Tuesday, Frank Appel, the CEO of Deutsche Post DHL Group said: "E-commerce is a major driver of our growth and we have seen very profitable growth along many years and that will continue. We had some short-term challenges and we are fixing that, but the underlying growth and the profitable growth will continue without a doubt."