Author: Archive

Deutsche Post "overweight," target price reduced

Posted by | Jul 23, 2008 | |

Analysts at JP Morgan maintain their “overweight” rating on Deutsche Post AG while reducing their estimates for the company. The 18-month target price has been reduced from EUR 27 to EUR 23.3.

In a research note published on 21st July, the analysts mention that the company witnessed weaker-than-normal trends this summer due to macro economic and earnings concerns. Deutsche Post’s performance for the current year has also been negatively impacted by fuel, labour and cost concerns, the analysts add. Deutsche Post’s current share price does not reflect the robust volume trends in the company’s mail business and some other positive factors, JP Morgan believes. The adjusted EPS estimates for 2008 and 2009 have been reduced from EUR 1.86 to EUR 1.71 and from EUR 2.12 to EUR 1.76, respectively

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World's postal sector players meet for the 24th Universal Postal Congress

Posted by | Jul 22, 2008 | |

The development gaps that separate the postal services of industrialized and developing countries at a worldwide level must be reduced for citizens and businesses to better participate in international trade, said UPU Director General Edouard Dayan.

More than 2,200 postal sector stakeholders will participate in the 24th Universal Postal Congress, taking place in Geneva from 12 August. The majority of its 191 member countries will be represented.

According to Dayan, member countries must firmly commit to modernizing their postal networks so that, globally, they can fully contribute to their social and economic development objectives. Postal services are still alive and well, he said, adding that e-mail and the Internet had not rung the death knell for them. On the contrary, he added, all means of communication complement each other, and the postal sector in this era of the Internet and online commerce has never played a more key role in today’s commercial trade.

These challenges and others will be at the heart of Congress discussions and the World Postal Strategy UPU member countries will be asked to adopt. This strategy is designed around the interoperability of postal networks, using new technologies and harmonized international standards, the development of markets and more well-defined governance rules for the postal sector. Four objectives aim to better position worldwide postal services in the light of tougher competition, the opening up of markets, the advances made by new technologies, which offer new opportunities, and the need to improve their reliability and speed to respond adequately to individual and business needs.

Congress delegates will study 560 proposals. Some 330 are of a general nature or aim to modify the UPU Acts, an international treaty signed by all member countries at the end of Congress. The other proposals, more technical, will be examined by the next UPU Postal Operations Council. It will hold its first session after Congress in October at UPU headquarters in Berne.

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Swiss Post International acquires German-based GPD

Posted by | Jul 22, 2008 | |

Swiss Post International (SPI), the international Group unit of Swiss Post, has taken over Global Press Distribution GmbH (GPD) in Germany. With this acquisition, SPI is consolidating its position in the German export press market, the largest in Europe. GPD has a staff of 31 and generated sales of CHF 8 million in 2007.
The acquisition of Global Press Distribution GmbH (GPD) by Swiss Post International (SPI) will take effect retroactively to 1 January 2008. It was agreed that the purchase price will not be disclosed. GPD, whose registered office is in Moerfelden near Frankfurt, provides services connected with the international and national dispatch of magazines. Its customers in Germany include publishers, printers, lettershops and other service providers in the publishing industry. With a workforce of 31, GPD generated sales equivalent to CHF 8 million francs in 2007.
With this acquisition SPI is reinforcing its position in the export press business. The German press market is the biggest in Europe, with 400 newspapers and 200 magazine publications. By entering this market, Swiss Post is pursuing its strategy of establishing itself in international niche markets. Swiss Post now already generates 20 percent of its sales abroad and in its cross-border business. SPI is a wholly owned subsidiary of Swiss Post and currently employs 1,200 people in eleven European countries, five major cities in Asia and in the USA. SPI is now number five on the cross-border letters market after Deutsche Post, United States Postal Service, the UK’s Royal Mail and France’s La Poste.

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Estonian Post is allowed to decrease number of post offices to 419

Posted by | Jul 22, 2008 | |

Competition Board decided that the minimum number of post offices used for providing universal postal service will be decreased to 419, writes the National Broadcasting.

Estonian Post requested that the minimum required number be cut from 495 to 400.

The enterprise justified its application with the possibility to ensure providing service according to standards by using alternative options, hence, according to the opinion of the enterprise, there is no need for a stationary postal office in areas with low population density.

AS Eesti Post will ensure provision of service with postal delivery staff who collect and deliver post in the place of residence or of business of service users.

The Competition Board did not agree to allow decreasing number of post offices in four rural municipalities where the cut was not allowed due to the number of residence in these local government units.

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Human Resources Training in Angola

Posted by | Jul 22, 2008 | |

For five weeks between the end of July and the beginning of August 2008, CTT-Correios de Portugal is leading a training course on Human Resources issues on request of the Angolan postal operator, Encta-Empresa Nacional de Correios et Telégrafos de Angola.
This action is organised in weekly modules and covers a wide range of issues within the postal area, international accounting and rates, planning and accounting, postal management, marketing and philately.

The training program includes theoretical and practical presentations and is addressed to heads of post offices and operational responsibles.

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Annual Report 2007 of CTT Correios de Portugal Awarded

Posted by | Jul 22, 2008 | |

The second edition of ‘Investor Translations & Governance Awards’, that distinguishes companies with the best management practices in 2007, has awarded CTT Correios de Portugal for the second year with the award for the best “Management, Accounts and Information on Corporate Governance Report’ regarding the business corporate sector of the state.

This award has been introduced for the first time last year and CTT Correios de Portugal has been awarded with it.

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Hino hybrid and TNT express win transport awards

Posted by | Jul 22, 2008 | |

Australia’s first hybrid eco-truck has swept the field in the annual Transport Awards.

PowerTorque magazine presented Hino’s hybrid with the 2008 Technology and Innovation award.

And it recognised TNT Express as the first major courier and parcels delivery company to actively pursue the introduction of eco-friendly transport.

TNT Express has put 10 Hino Hybrid trucks on its national fleet.

TNT Express determined that the Hino Hybrid diesel electric hybrid emits 14 per cent less carbon dioxide than a conventional diesel engined truck of equivalent size.

The company estimates the saving will average 1600 kilograms of CO2 a year per vehicle.

Hino has committed itself to actively promote hybrid as a viable transport resource, especially in urban and suburban deliveries.

The company has spent more than two years promoting the concept in Australia and is now gearing up for a roll-out of new models.

The Hino Hybrid can shut down its diesel engine when the vehicle is stopped and smoothly restart when it is time to move off.

The vehicle captures energy generated under braking and returns it to special batteries for later use in the hybrid system.

TNT Express has further added to the green credentials of its 10 Hino Hybrids.
It has fitted special, strong polypropolene bodies for weight saving and recyclability, and a roof spoiler designed to cut wind drag during travel on many of the 80km/h ring roads which service major cities.

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Signature of public service agreement 2008-2012 between French state and La Poste

Posted by | Jul 22, 2008 | |

La Poste has signed a public service contract with the French government for the time period 2008-2012 confirming the company’s commitment towards four basic service areas and preparing it for total postal liberalisation in 2011.

The contract, signed by La Poste President Jean-Paul Bailly and the Minister for Economic Affairs Christine Lagarde among others, follows the announcement of possible future partial privatisation of La Poste in 2009 with the government remaining the majority shareholder of the company.

With the new agreement, the public postal operator expects to calm the French unions regarding the modification of the company’s legal structure as they have always strongly opposed opening up La Poste to private investors.

The four main service areas stipulated in the agreement include postal services, transportation and distribution of press, accessibility of banking services for as many clients as possible and nationwide coverage of postal service points.

The postal services mentioned in the contract comprise distribution and delivery of mail 6 days a week with the same tariffs all over France. In addition, the new deal defines some targets for the group such as distributing 83 pct all letters the next-day in 2008. The quantity should rise to 84 pct in 2009 and 85 pct in 2010.

The accessibility of banking services means that every customer has the right to open an account at the postal bank of the company, disregarding the financial resources of the customer.

Nationwide coverage of postal service points guarantees the accessibility of La Poste service points all over France, even in the remotest regions of the country maintaining 17.000 service points nationwide. According to the corresponding law, La Poste has to guarantee that no more than 10 pct of the population in any French department will be more than 5 km away, or at more than 20 minutes distance by car, from a post office.

French trade unions are already preoccupied with the uncertainty around the financing of the plan since neither the cost of the postal distribution service nor the method of financing has been outlined in the contract.

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