Tag: Deutsche Post

Deutsche Post raises earnings guidance

Posted by | Dec 14, 2005 | |

Deutsche Post on Wednesday upped earnings guidance after closing its GBP3.8bn (USD4.5bn) deal with UK logistics group, Exel. The company now expects operating profit to reach EUR3.7bn compared to earlier guidance of EUR3.6bn. The company is set to benefit from reduced costs for health care as a result of new legislation relating to health insurance which will reduce its costs by about EUR70m a year.

“As a one-time effect in 2005 the reduction in our annual obligation to fund future shortfalls led to a reversal of health care provision with a positive earnings before interest and tax impact of of about EUR1bn.”

But Deutsche Post added that the impact would be offset by EUR0.7bn of new provisions for new “optimisation measures”, such as the creation of a new global corporate services division, creating a net benefit of about EUR0.3bn.

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Deutsche Post World Net completes acquisition of Exel

Posted by | Dec 14, 2005 | |

Deutsche Post World Net today completed the acquisition of U.K. logistics company Exel plc, becoming the global No. 1 in air freight, ocean freight and contract logistics. Just one month after Exel’s shareholders welcomed the offer, the company’s equity capital was transferred in its entirety to Deutsche Post World Net. The combination of the two companies creates a group with some 500,000 people and about 55 billion euros in annual sales. “This acquisition marks a historic step for Deutsche Post World Net. By bringing together these two powerful, high-quality organizations, we are creating the largest logistics company in the world. Our Group will set the future pace in the forwarding and supply chain industries, enabling us to serve even better the global needs of our customers,” said Deutsche Post Chief Executive Officer Klaus Zumwinkel. “The transaction has been carried out in a very positive and constructive atmosphere. Within very short time, our two management teams have developed a deep understanding and mutual trust. Our top priority now is to combine DHL Logistics and Exel in a rapid and efficient manner.”

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Deutsche Post raises FY EBIT forecast to at least 3.7 bln eur, was 3.6 bln

Posted by | Dec 14, 2005 | |

Deutsche Post AG said its full year EBIT will reach at least 3.7 bln eur, up from its earlier 3.6 bln eur forecast because of a reduction in its health care provisions. It said that the reversal of these provisions will have a positive impact of 1.0 bln eur on this year’s EBIT result. However, this impact will be partially offset by 0.7 bln eur in new provisions relating to unspecified ‘optimisation measures’ and the creation of a new global corporate services divisions. In total, these effects will have a positive impact of 0.3 bln eur.

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Deutsche Post plans new cost cuts; looks for Asia, Eastern Europe acquisitions

Posted by | Dec 9, 2005 | |

Deutsche Post AG plans to start a new cost cutting programme when the current one, Star, expires at the end of the year, chief executive Klaus Zumwinkel told the Financial Times Deutschland, adding the group also wants to make acquisitions in Asia and Eastern Europe. ‘The new programme should clearly express our targeted level of earnings in three years,’ Zumwinkel said.
‘Star targeted integration and costs. Now we want to concentrate more on customers and quality,’ he said, adding that more details will be available early next year. On the group’s expansion plans, the CEO said Deutsche Post is looking at making acquisitions in Eastern Europe and Asia, adding that ‘in ten year’s the express mail service will be much more consolidated (than it is today)’ and that there is a call for ‘volume and size’ in the industry.

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German Postbank plans new payment transaction agreement

Posted by | Dec 8, 2005 | |

German bank Postbank, part of German postal services group Deutsche Post, plans to expand its activities with processing payment transactions. The bank, which has processed payment transactions for German banks Deutsche Bank and Dresdner Bank since 2004, revealed that it was considering an agreement with a third major customer for 2005.

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