Tag: Deutsche Post

Calls for Deutsche Post to pay VAT

Posted by | Nov 10, 2005 | |

Rivals of German postal services provider Deutsche Post have called for the new German government to levy VAT on the monopolist. The federal association of international express and courier services (BIEK) said that Deutsche Post’s exemption costs the treasury between 150m euros and 330m euros each year. The association believes that this gives Deutsche Post an unfair advantage over its rivals and stated that the situation could be changed immediately using EU law.
Deutsche Post, however, is not troubled. The group said that if it paid VAT, it would have to increase postage prices and that therefore EU law could not be used immediately. The head of Deutsche Post, Klaus Zumwinkel, has already stated that the group will pay VAT once the letter market is fully liberalised.

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Deutsche Post Q3 EBIT rises 49 pct on strong logistics, financial services

Posted by | Nov 10, 2005 | |

Deutsche Post AG said its third quarter EBIT rose 49 pct to 720 mln eur, from 484 mln a year-earlier, thanks to strong sales at its logistics and financial services units. The EBIT figure was at the high end of analysts forecast which ranged between 560-860 mln eur. Third quarter sales reached 11.028 bln eur, up from 10.648 bln, but below the 11.040-11.881 bln eur range analysts forecast because of weakness in the German mail market. Net profit was 405 mln eur, compared to 169 mln, reaching the high end of 290-408 mln eur range analysts forecast.

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Wincanton relaxed on Deutsche Post takeover of Exel – interview with Chief Executive

Posted by | Nov 9, 2005 | |

Wincanton PLC, the pan-European logistics group, is relaxed about the competitive implications of Deutsche Post AG’s agreed 5.5 bln eur takeover of Exel PLC that will create a world leader in air and sea freight forwarding and contract logistics, according to chief executive Paul Bateman. He said the deal won’t make the combined group any bigger in terms of UK logistics as Deutsche Post currently doesn’t have a presence. ‘On the Continent yes they will be bigger but I would guess that on the track record of Deutsche Post acquisitions ‘watch this space and see if they make any progress’. Last month Klaus Zumwinkel, Deutsche Post’s chief executive, admitted he was disappointed with the integration of DHL, which it acquired in 2002, in both France and the UK. Bateman noted that, unlike Wincanton, Deutsche Post has a presence in both America and in Asia and delivers letters and parcels.

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Deutsche Post plans no Jan 1 price hikes for private customers – Kruse

Posted by | Nov 8, 2005 | |

Deutsche Post World Net AG is not planning a traditional Jan 1 price hike for private customers next year in reaction to mounting competition, Die Welt newspaper said in a report to be published tomorrow, citing management board member Peter Kruse. ‘We will not stand by helplessly,’ Kruse said. ‘But that doesn’t mean that we will change prices.’

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Deutsche Post Q3 EBIT 560-860 mln eur vs 484 mln eur

Posted by | Nov 3, 2005 | |

Deutsche Post AG will report next Thursday that third quarter EBIT rose to between 560-860 mln eur from 484 mln, as strength in logistics and financial services operations compensated for weakness in its domestic mail operations, analysts said.

They expect third quarter sales to reach between 11.040 and 11.881 bln eur, up from 10.669 bln eur.

Third quarter net is seen between 290 and 408 mln eur, up from 169 mln, analysts said. They noted that part of this increase stems from accounting changes, as Deutsche Post’s EBIT figure benefits from the discontinuation of goodwill amortisation, which carries through to the bottom line.

During the 2.00 pm CET conference call, analysts will focus on Deutsche Post’s efforts to integrate its DHL express operations in France and the UK.

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