Deutsche Post AGM 2002 Press Release

Deutsche Post will today welcome its shareholders to the second ordinary
AGM, held in Kölnarena, since its IPO. One of the items to be decided by
the shareholders is the dividend for the year 2001. The Board of Management
and the Supervisory Board have proposed a payout of € 412 million, which
would result in a dividend of € 0.37 per share, an increase of 37% over the
previous year.
The Chairman of the Group's Board of Management, Dr. Klaus Zumwinkel, will
be able to present the shareholders with a thoroughly positive report. Even amid
the economic difficulties of 2001, Deutsche Post World Net managed to continue
the success of the past few years. The Group's revenue and profit surpassed the
record levels of 2000. Revenue climbed to € 33.4 billion (+ 2.1%) and profit
from operating activities (EBITA) was up to approximately € 2.6 billion (+7.3%).
Deutsche Post World Net's net profit for the period (profit after taxes) rose to
around € 1.6 billion (+ 4.3%). As Zumwinkel explains, "This is the eleventh
consecutive year in which we have managed to improve the Group's key
indicators."
The Group's considerable earning power and financial strength is reflected in the Group balance sheet, which improved yet again. For instance, net financial debt, which was already low, dropped again in 2001 to € 1.75 billion while cash flow increased further to reach € 3.03 billion. Deutsche Post World Net's earning power and financial strength compare well with the other DAX 30 companies too, coming in 11th place for revenue and 7th place for group profit. At 6th place, the Group's net financial debt is one of the lowest amongst the DAX companies.
This solidity is reflected in the recent first-time assessment of the Group by
international rating agencies Moody's Investors Service, Standard & Poor's and
Fitch Ratings. All three agencies gave the Group top investment-grade ratings.
According to the rating agencies, it is the sustained stability and level of cash flow, as well as its low financial debt, that make for the Group's outstanding financial strength.
Based on these excellent ratings, Deutsche Post is planning its first benchmark
euro-denominated bond issue in the next few weeks. It is anticipated that the
bond's volume will be one billion euro and will only be used to convert short-term into long-term liabilities. This will not increase the Group's debt overall, but will enable Deutsche Post World Net to secure the current low interest rate for itself for the long term.
As the Group's boss concluded: "Deutsche Post World Net has solid, healthy
foundations. We have increased revenue and profit. Our debts are low and our
balance sheet is very stable." In view of this, Zumwinkel made it clear that he
was not satisfied with the development of the price of the company's stock, which was unable to escape the uncertain situation on the international capital markets.
"The price of our stock today reflects neither the great potential nor the true value of our company," he said. His main aim is to ensure that in the future, the capital markets value Deutsche Post's stock and the company appropriately once again.
In June 2002, Deutsche Post World Net presented itself to its shareholders as
a solid, financially strong and globally managed logistics group. "With around
380,000 employees worldwide, we are looking to close the 2002 business year
with a revenue of € 40 billion, though topping the 2001 operating result will be
a challenge. The first quarter of 2002, with a considerable rise in revenue and a slight drop in profit, met our expectations," Zumwinkel stated. As for his goal following the restructuring and internationalisation of the Group in the 1990s:
"We want to be the number one in worldwide logistics".
Press contact:
Deutsche Post World Net
Uwe Bensien
53250 Bonn
Phone: +49 (228) 1 82-99 88, Fax: +49 (228) 1 82-98 22
e-Mail: [email protected]