Deutsche Post sees 50 pct of earnings from logistics in mid-term

Deutsche Post sees 50 pct of earnings from logistics in mid-term
From AFX EUROPE, April 29th, 2001

Deutsche Post AG plans to increase the proportion of earnings
generated by its logistics operations in the medium term to 50 pct
from the 36 pct achieved in 2000, Deutsche Post chairman Klaus
Zumwinkel said in an interview with the weekly Welt am Sonntag. The booming logistics side of the business will make the company
less dependent on its ordinary postage operations, Zumwinkel said. Zumwinkel also ruled out cutting its stamp rates, citing the
constant level at which postage rates have remained. “Take the rate for a standard letter. Since 1989 it has only been
increased by 0.10 dm. There aren’t many products for which prices
have remained so constant,” he said. The German postal regulator has not ruled out that there may have to
be cuts in stamp rates ahead of full liberalisation of the market in
2007, the paper said. Regarding the integration of recently acquired companies, Zumwinkel
said that this process will be completed by the end of 2002. DSL Bank has already been totally integrated in Postbank, while that
of Nedlloyd ETD Holding BV and ASG AB into Danzas has been nearly
completed, he said. However, “there is still work to do, like on Air Express
International, which has to be integrated into Danzas,” he said. Zumwinkel added he does not rule out further acquisitions in its bid
to become worldwide number one in logistics. scs/pav/
Copyright 2001 AFX News.
Source: World Reporter (Trade Mark).AFX EUROPE, 29th April 2001