Tag: Deutsche Post

Deutsche Post is sending out more than 20 million notifications on the 2007 pension adjustment

Posted by | Jun 20, 2007 | |

In the next few days, Deutsche Post will be sending out approximately 21 million notifications on the 2007 pension adjustment to pension recipients in Germany and abroad.

As of July 1, 2007, pensions are being adjusted based on the Pension Valuation Regulations (“Rentenwertbestimmungsverordnung”) of 2007. Deutsche Post’s Pension Service is carrying out the necessary work on behalf of the pension and accident insurance institutions for the vast majority of pensions based on the fixed adjustment rates. In the case of pensions that are paid in advance, the new payment amounts will be remitted for the first time at the end of June, and all others, at the end of July 2007.

The dispatch of all notifications will be completed by mid-July 2007.

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Deutsche Post to open 600 new retail outlets In Germany

Posted by | Jun 19, 2007 | |

Starting this autumn, Deutsche Post will open some 600 new retail outlets throughout Germany, thereby boosting the size of its network to over 13,000 locations. By the end of the year, the company will have expanded its Postpoint pilot project to the whole of Germany. Trials of this new type of retail outlet have until now been limited to the cities of Dortmund and Bonn.

Postpoints satisfy the daily requirements of private households and can handle small and large parcels as well as letter mail. In addition to stamps and Paketmarke prepaid parcel stamps, customers will also be able to purchase prepaid envelopes, response cards and small parcels (Plusbrief, Pluskarte and Pluspäckchen). Postpoint customers can also use our registered mail, redirection and storage services, as well as find out about our products and prices. Postpoints are run by Deutsche Post in collaboration with trusted retail partners. By providing a service during normal shop opening hours, Deutsche Post is placing the customer at the heart of its business.

The trial of this new approach is one of the initiatives launched under the worldwide quality program announced last year: “First Choice” aims to ensure that the Group cements its position as the preferred provider for its customers.

The actual locations of the new Postpoints are expected to be decided and announced in September, as soon as negotiations with our retail partners have been completed.

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Deutsche Post rumored to buy Sinotrans joint venture

Posted by | Jun 15, 2007 | |

Reports from the Xinhua news agency suggest that Deutsche Post World Net is moving to buy out Sinotrans from its Exel-Sinotrans Freight Forwarding joint venture. The reports cite the CEO of Sinotrans indicating in April that he would be interested in selling the Chinese logistics company’s stake in the joint venture.

The reports also quote the president of DHL China and South Korea as saying that the DHL is in negotiations with Sinotrans about the holding, but that a deal has not been reached.

DPWN already owns 50% of the business which has revenues of more than €300m.

Exel-Sinotrans was established before DPWN bought Exel. Although it is described as a freight forwarder, it aims to offer a complete suite of logistics services including contract logistics. It focus is orientated towards southern China and serving traffic between Hong Kong and the Pearl River Delta.

Sinotrans is at present engaged in complex manoeuvres to restructure its capital base and to re-align its corporate strategy. It is moving much of its assets into companies quoted on the Hong Kong stock exchange in order to raise capital and be less reliant on loans from state banks.

DHL has announced a string of investments in China both for its logistics business and its Express operations. It now has wholly owned Express operations, but its logistics businesses are a mixture of wholly owned companies and joint-ventures. Of the latter its Danzas-ZF Freight forwarder is probably the most important.

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German govt mulls extending Deutsche Post VAT exemption to competitors

Posted by | Jun 15, 2007 | |

The German government is considering extending Deutsche Post World Net AG’s exemption from VAT to all letter carriers in the country, as part of its plans to end the company’s monopoly on the market, Frankfurter Allgemeine Zeitung reported, citing government sources.

The move will increase the amount of tax revenue the government is losing from its current level, which is an estimated 300-500 mln eur a year, it said.

Deutsche Post is scheduled to lose its mail delivery monopoly for letters weighing up to 50 grams at the end of this year, with the EU seeking a continent-wide liberalization of the market in 2009.

The exemption from VAT will include all mailings up to 1,000 grams, the newspaper said today.

The government also hopes the exemption will help keep prices low after Deutsche Post’s monopoly expires, it said.

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Deutsche Post downgraded to 'A'; outlook stable

Posted by | Jun 13, 2007 | |

Fitch Ratings said it has downgraded Deutsche Post AG’s issuer default and senior unsecured ratings to ‘A’ from ‘A+’, following which the outlook on the rating is now ‘stable’.

The short-term issuer default rating was affirmed at ‘F1’, Fitch said.

The ratings agency said the downgrade reflects the delays in Deutsche Post’s profit improvement and debt reduction. However, Fitch also said the fundamental business of the group is doing well, albeit with localised problems in France and the US express division which is the main area of concern. Many of the group’s activities have leading market positions, Fitch added.

The US operation’s improvement is expected to be slow with break-even targeted for 2009, Fitch said. The express operations in Europe, Asia, and the smaller emerging market portion are showing greater than double-digit operating profit margins, it added.

The ratings of Deutsche Post do not take into account the performance of Deutsche Postbank, Fitch said.

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