Tag: Deutsche Post

Deutsche Postbank closed 2,500 branches last year, 30 pct of total

Posted by | Mar 30, 2007 | |

Deutsche Postbank AG closed 2,500, or 30 pct, of its branches last year, a company spokesman told Boersen-Zeitung, confirming statistics from Germany’s Bundesbank.

The spokesman said the bank, which is majority owned by Deutsche Post AG, now has 6,500 branches in Germany.

He added that Deutsche Postbank closed its operations in Deutsche Post outlets where it had few customers.

The spokesman also said that 90 pct of Deutsche Postbank’s business comes from its 2,000 largest branches.

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Italy shows how to make a profit from post offices

Posted by | Mar 27, 2007 | |

Royal Mail could learn something from the humble Italian postie.
Massimo Sarmi, 60, took over Poste Italiane in 2002. Today, he will declare the fifth consecutive year of profits for the company, after more than five decades of losses.
In the first half of last year, the group’s net profits rose by 72.6pc to euro 378m (GBP 257m). By comparison, Royal Mail said last month that its first half profits last year sunk by 86pc to just GBP 22m, although the fall was largely because of a steep rise in the costs of servicing the GBP 6.6bn deficit in its pension fund. Royal Mail has threatened to close half of its 14,000 post offices, which it says are losing it GBP 4m a week. The move would leave many people stranded without a post office for miles.
But while Poste Italiane’s network of post offices is also losing money, it now provides the backbone of a company which has diversified into retail banking, insurance and even selling vacuum cleaners, all of which produce bumper profits for the company.
Consequently, he based his strategy on the fact that he can reach almost every Italian and installed IT systems so that rural post offices could connect to the main office and start happily selling mortgages, bank accounts, and insurance.
Mr Sarmi said Royal Mail should do the same, if it wants to survive.

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Glos says Germany will stick to plans to end Deutsche Post mail monopoly

Posted by | Mar 26, 2007 | |

Economy Minister Michael Glos said Germany is sticking to its plans to end Deutsche Post AG’s monopoly on mail delivery operations by the end of this year.

Glos’ comments came amidst calls by Social Democratic politicians and trade unions to allow Deutsche Post to keep its monopoly on the grounds that other European countries have not yet made any significant moves to liberalise their own postal services.

Deutsche Post still enjoys the monopoly of delivering mails weighing less than 50 grams.

‘We need open postal markets. That is an advantage for consumers,’ he said in a speech at an international cartel conference.

Glos said the oft-touted scenario of ‘an invasion of foreign postal firms in the German market is not a realistic threat’.

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Israeli Post office on the way to stock market

Posted by | Mar 25, 2007 | |

The Postal Authority is on its way to the Tel Aviv Stock Exchange sometime in the next few months. In recent days the Government Companies Authority (GCA) presented a draft of a proposed law to privatize the Postal Authority, including the Postal Bank.

The draft bill was sent for comment to the relevant bodies: the Finance, Communications and Justice ministries; as well as the treasury’s accountant general and also the Shin Bet Security Service.

The Ministerial Committee on Legislation is expected to vote on the proposed law after committee approval. The GCA will prepare a prospectus for the issue. According to the proposal, the state will sell 49 percent of the shares by May 2008. In the second stage the state will sell control of the Postal Authority to a strategic investor, who will commit to integrating the post office’s infrastructure into the banking system – and thereby compete with the large banks.

At the same time, a special team, lead by Accountant General Yaron Zelekha, is examining interest in the purchase. The group has met over the past few months with several local and foreign institutions that have shown interest, including the Deutsche Post, a number of insurance companies and medium-sized banks.

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Exel acquisition lifts Deutsche Post figures

Posted by | Mar 21, 2007 | |

Deutsche Post said it boosted the sea freight business of its subsidiary DHL last year, both through the acquisition of Exel and through organic growth, writes Katrin Berkenkopf in Cologne.

‘We notched significantly increased volumes from existing business and with new customers,’ the group said.

With a volume of 2.4m teu, DHL should be the number one sea freight forwarder globally in terms of transport volume, although competitor Kuehne+Nagel is considerably larger when it comes to turnover.

The 2.4m teu contrasts with only half of that volume seen a year earlier, which demonstrates the leap ahead that the acquisition of Exel meant for DHL’s Global Forwarding business.

The growth in revenue is clearly lagging behind the volume increase, however. Sea freight turnover grew by 41% to EUR2.66bn (USD3.5bn). Deutsche Post pointed out that a dip in freight rates on high-volume routes had a negative impact on finances.

Kuehne+Nagel last week reported a seaborne transport volume of 2.3m teu and turnover of SFr8.3bn (USD6.8bn). Overall, the logistics division of Deutsche Post which includes ocean and air freight, supply chain business and land-based freight business recorded a turnover of EUR22.9bn, up from EUR9.9bn.

Acquisitions, first of all that of Exel, account for EUR11.6bn of the increase. Earnings before interest and taxes grew from EUR346m to EUR762m. Deutsche Post chief executive Klaus Zumwinkel reiterated his forecast of operating profits in logistics reaching EUR1.2bn by 2009. For the current year, he expects a rise of 15%.

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