Tag: Deutsche Post

The EU competition commission has reacted to a rumour that Deutsche Post AG, the German postal service operator, is likely to face a substantial fine in May, or in June at the latest, by stating that it has not yet decided upon the sum to be paid. The possible fine relates to allegations of subsidies detrimental to competition in the sector. Furthermore, the commission reports that it has not yet decided whether to demand repayment of the alleged state subsidies.

Postal service Deutsche Post said Tuesday that first-quarter profits fell 23 percent, partly because people used up old stamps denominated in marks rather than buying new euro versions.
Net profit fell to 417 million euros (dlrs 375 million) from 539 million euros in the same quarter the year before, the company said. Sales at its biggest division _ its legal monopoly on carrying the mail _ fell 2.1 percent in the period, to 2.63 billion euros (dlrs 2.36 billion) from 2.75 billion the year before.
“One reason behind this was the conversion to the euro, which led to the increased use of Deutsche-mark denominated stamps acquired in the past,” the company said in a statement.