Tag: Deutsche Post

German postal workers protest market opening

Posted by | May 14, 2007 | |

Some 30,000 German postal workers protested in Berlin on Monday against the planned opening of the country’s postal services market to competition on January 1, 2008.

The Deutsche Post workers came from across the country to protest against opening the local market, a year before the planned liberalisation of the entire European postal market.

A spokeswoman for Germany’s Ver.di trade union, Cornelia Hass, said it was demanding that the German market be opened at the same time as those in the rest of the continent.

Ver.di has warned that doing so earlier could lead to the loss of jobs.
Deutsche Post holds a monopoly on the delivery of letters weighing less than 50 grammes.

After earlier waves of postal liberalisation in 1997 and 2002, the markets for the delivery of packages and letters weighing more than that are already open to competition.

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Deutsche Post performance criticised

Posted by | May 11, 2007 | |

Major institutional investors are accusing German national postal services provider Deutsche Post of poor operating results, poor profit growth and a lack of clarity. Klaus Kaldemorgen, head of German investment fund DWS Investment, which holds a 1.8 per cent stake in the company, fears that Deutsche Post could face being broken up if it does not improve profitability quickly, as the individual divisions of the company could be worth more than the company as a whole.

Mr Kaldemorgen has said that the forecast of only a 3 per cent increase for 2007 indicates the slowness of Deutsche Post’s restructuring and integration of different areas and regions, and doubts that the company will attain its mid-term target of 5.2bn euros in 2009. Michael Gierse, head of German investment fund Union Management, which holds a 1.6 per cent stake in Deutsche Post, has criticised the company for its profit growth not being in line with turnover growth, and for operating margins not only having dropped considerably in 2006 but for falling below the margins attained in 2004 and 2003. This is being attributed to problems in German parcel business and US business, the figures of which are no longer released. Mr Gierse has also queried the annual 500m euros registered for legal, consultancy and auditing fees; a representative for Deutsche Post has said that these figures arise from major takeovers in the past.

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German publishers interested in Sunday deliveries of Deutsche Post

Posted by | May 10, 2007 | |

German magazine and newspaper publishers are interested in the plans of Deutsche Post, the German postal service operator, to begin delivering on Sundays. The company has announced plans for a pilot project together with the publishers of ‘Spiegel’, the German weekly news magazine; the pilot phase, which will last for three months, is to begin in Dusseldorf on June 3 and in Hamburg on August 19. Around 30,000 copies of the magazine are expected to be delivered. If the pilot phase is successful, the project will then be extended to the whole of Germany.

German publishing group Burda says that it will have its magazine ‘Focus’, the closest rival of ‘Spiegel’, delivered on Sundays if Deutsche Post decides to make these services permanent. The publishers of German daily newspaper ‘Suddeutsche Zeitung’, who are considering the launch of a Sunday edition, are also interested. German publisher Axel Springer Verlag, which currently has a virtual monopoly on the market for Sunday deliveries, says that it intends to defend its position on the market.

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Deutsche Post 2007 Annual General Meeting

Posted by | May 8, 2007 | |

The Board of Management and Supervisory Board of DPWN are proposing a dividend of 75 cents for 2006, 7.1 percent more than a year earlier. That corresponds to a payout ratio of 47.1 percent. On average, the dividend has increased 19 percent annually since the Deutsche Post IPO. The company plans to further increase its payout ratio and continue its current dividend policy of sharing its excellent business performance with shareholders. The dividend is tax free for domestic shareholders.

For 2007, the Group reiterated its target to reach an EBIT of at least 3.6 billion euros. That means an increase of at least 3 percent based on the comparable year-ago figure, which included special items such as the exercise of the exchangeable bonds on Postbank shares as well as the related sale of Deutsche Postbank shares.

For its business division MAIL, the Group forecast stable to slightly higher revenue. The division expects that losses in its domestic mail business will be more than offset by the other business units. On an earnings level, the MAIL division expects a stable EBIT of about 2 billion euros. For the EXPRESS division, the Group expects an operating profit of at least 400 million euros for 2007. That includes one-time costs of 100 million euros tied to the new hub in Leipzig, Germany. Excluding these one-time costs, operating profit will amount to over 500 million euros, a more than 50 percent increase compared with the previous year. The LOGISTICS division is expected to raise EBIT by about 15 percent. For the FINANCIAL SERVICES division, the Group forecast an increase of at least 5 percent in EBIT, including one-time expenses of about 100 million euros.

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