Deutsche Post – Headline Q2 05 Figures Beat Estimates But Underlying Results Fall Short
Analysis by Bear Stearns
P:LibraryDeutsche PostDPWN 1st half 04 financial_highlights.pdf
Deutsche Post World Net (DPWN), which generates 49percent of revenues from international activities, is looking out for possible acquisitions in the international mail, express and logistics sectors, chairman Klaus Zumwinkel said at the company’s half-year results news conference. He added that in the postal sector, where it was outbid for a 22percent stake in Post Danmark and had decided not to bid for a 49percent stake in Belgian Post, DPWN would take a “pragmatic” approach between acquisitions, holdings and organic growth. Zumwinkel also renewed his call for EU states to agree on a final date for full postal liberalisation. With the end of its domestic postal monopoly on letters weighing less than 50g set for December 31, 2007, the German mail and logistics group is gearing up for full competition in its home market.
Read MoreDEVELOPMENTS IN LIBERALISING COUNTRIES: SWEDEN, GERMANY, NETHERLANDS, DENMARK AND NORWAY
P:LibraryPostalPostComm Formal DocumentsBrief_SW DK G NL NO_Aug_2005.pdf
In the first six months of 2005, Deutsche Post World Net increased its profit from operating activities (EBIT) by 10.6 percent to about 1.7 billion euros. At 21.5 billion euros, revenue rose slightly compared with the first six months of 2004. First-half net income amounted to 939 million euros compared with 721 million euros in the same period a year earlier. Earnings per share increased from 65 euro cents to 84 euro cents. In the second quarter, net income grew by 76 percent from 275 million euros in the year-earlier quarter to 484 million euros, or 43 euro cents per share.
“Our development in the first six months shows that we are on the right track,” said Chairman and Chief Executive Officer Klaus Zumwinkel. “I can confirm once again that we will reach our earnings target of 3.6 billion euros for this year.”
Read MoreDeutsche Post has transformed itself from an anaemic state agency to a global success. Richard Milne talks to its head, Klaus Zumwinkel.
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