Author: Archive

Belgian Certipost Appoints New CEO

Posted by | Oct 13, 2005 | |

Belgian electronic invoicing services provider Certipost, a joint venture of postal service company De Post/La Poste and telecommunications provider Belgacom, has appointed Stijn Vander Plaetse chief executive, it was reported on October 11, 2005.

Vander Plaetse replaces Erik Weytjens, who has been worked for De Post/La Poste since 2000.

Vander Plaetse has been Head of Marketing Business in Belgacom since 1998 and was responsible for corporate marketing activities.

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UK’s CVC busy putting its stamp on Europe’s postal industry

Posted by | Oct 13, 2005 | |

Private equity group CVC is busy putting its stamp on Europe’s postal industry. This summer it bought 22percent of Post Danmark and yesterday the two jointly took a 50percent stake, less one share, in Belgium’s postal operator, De Post-La Poste. What the two appear to be offering is a combination of CVC’s financial clout and Post Danmark’s industry expertise. Both are vital in an industry where liberalisation is the name of the game and country monopolies look headed for the bin. At the same time the CVC/Post Danmark model appears to offers the prospect of continued state control – and politically sensitive social responsibilities – alongside much needed cash for investment.

Is it too good to be true? For trade secretary Alan Johnson, mulling options for Royal Mail, the answer is likely to be yes. Even CVC would blanche at the huge investment needed to modernise Royal Mail and make a meaningful dent in its pensions deficit. And opening Royal Mail to private equity would send the political temperature soaring.

Within the framework of the existing CVC postal deals there are questions to be answered. At some point CVC will want an exit. The stock market offers one route – but does not offer a solution to the anomaly of a listed company with majority state control, a hatful of social responsibilities and private sector competition. Nor does a trade sale look more promising. The number of potential buyers would be limited and liberalisation could well end up in consolidation.

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DHL: China to yield 75 percent of Asia sales in 5 years

Posted by | Oct 13, 2005 | |

China will account for as much as three quarters of DHL Express’s Asia-Pacific revenue in five years, up from more than 45 percent now, a senior executive said on Thursday. Asked about China’s contribution to Asian revenue, Jerry Hsu, DHL’s president for Greater China and Korea, told Reuters: “Hopefully, we will (have) at least 70 to 75 percent five years down the road. We have over 45 percent currently”. DHL, the express subsidiary of Deutsche Post World Net, expects revenue there to grow by more than half this year on top of 50 to 60 percent growth last year. “If GDP grows 8 to 9 percent, international express is going 30 to 40 percent, and we always aim to equal or grow faster than the market,” said Scott Price, DHL’s Asia-Pacific chief executive. DHL posted 3.4 billion euros (USD4.1 billion) of revenue in Asia in 2004, versus more than 24 billion euros worldwide, according to the latest figures provided in materials on Thursday.

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Belgian De Post/La Poste Plans IPO in 2009

Posted by | Oct 13, 2005 | |

Belgian postal services company De Post/La Poste plans to go public in 2009, it was reported on October 13, 2005.

Danish postal service Post Denmark and UK investment fund CVC Capital Partners will invest 300 mln euro (USD359.7 mln) in De Post/La Poste in exchange for a 50 pct stake minus one share. Thus the Belgian government will continue to be the majority owner of De Post/La Poste.

Under the deal, Post Denmark may sell its stake in De Post/La Poste not earlier than in five years’ time, while CVC Capital can offer its stake a year earlier but only through an IPO. Post Denmark has a pre-emptive right on CVC Capital shares, while the Belgian government has the pre-emptive right on the consortium’s stake, if it is put up for sale in five years’s time.

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Private-equity group lobbies the government for Royal Mail stake

Posted by | Oct 13, 2005 | |

The private-equity firm CVC Capital Partners is pressing the Government to be allowed to buy a stake in Royal Mail should it decide to part- privatise the state-owned postal operator.

CVC, which owns a number of household names in the UK including the AA and the Debenhams department store, is understood to have approached ministers and the Royal Mail chairman Allan Leighton to set out its ideas.

CVC recently completed a EUR6bn (pounds 4bn) fund-raising in Europe to finance acquisitions. Any auction of Royal Mail would be certain to attract interest from rival private-equity firms and other trade bidders.

The Secretary of State for Trade and Industry, Alan Johnson, is due to receive a report from Sir George Bain on the future of Royal Mail before the end of the year, which could pave the way for a partial privatisation of the organisation.

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Deutsche Post to raise profit, dividend 2006

Posted by | Oct 13, 2005 | |

German postal service group Deutsche Post AG expects to raise profit and pay higher dividend in 2006 against 2005, company CEO Klaus Zumwinkel said on October 13, 2005.

Deutsche Post will generate higher profit in 2006, excluding the acquisition of British logistics group Exel plc, which will not influence next-year results, Zumwinkel added.

Deutsche Post forecast strong growth at its express courier, logistics and financial service divisions, which are expected to register an operating profit of 1.6 bln euro (USD1.918 bln) in 2005. Profit at the mail division is seen at 2.0 bln euro (USD2.398 bln).

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Deutsche Post CEO Zumwinkel disappointed with DHL integration in France, UK

Posted by | Oct 13, 2005 | |

Deutsche Post AG chief executive Klaus Zumwinkel said he is disappointed with the integration of DHL in France and the UK, according to an interview to be published in Handelsblatt tomorrow.

But Zumwinkel said he has taken steps to speed up the process, including sacking the head of UK operations.

Deutsche Post acquired DHL in 2002, and has successfully completed the integration of the unit at its German and Dutch operations.

The matter is significant because Deutsche Post must now focus on integrating Exel Plc, which it agreed to acquire for 5.5 bln eur last month.

Overall, Zumwinkel said Deutsche Post’s biggest upcoming challenge will be to ensure that its logistics operations grow at the same pace as the overall market.

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