Tag: Deutsche Post

Deutsche Post AG supports Postbank strategic initiative

Posted by | Oct 27, 2008 | |

The Supervisory Board of Deutsche Post AG has approved that Deutsche Post, as majority shareholder of Deutsche Postbank AG, will participate with up to 100 percent in the bank’s planned capital increase. The Group thus supports the strategic initiative presented by Postbank to further develop its successful strategy and a sustainable improvement of earnings quality.
Deutsche Post has committed to subscribe to the planned rights issue of 54.8 million shares at the subscription price according to its stake of 50 percent plus one share in Postbank. As far as the subscription price does not exceed 18.25 euros, Deutsche Post has also committed to subscribe to all shares that are not taken up by the market at the subscription price. The maximum commitment by Deutsche Post thus would not exceed 1 billion euros, which it would finance out of the Group’s cash flow.
As a result of this measure, Deutsche Post’s stake in Postbank would initially increase to a maximum of 62.52 percent. The September agreement with Deutsche Bank AG, under which it will – upon antitrust and regulatory approvals – acquire a 29.75 percent stake in Postbank from Deutsche Post in the first quarter of 2009, remains in place.

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Deutsche Post World Net provides preview of third quarter 2008

Posted by | Oct 27, 2008 | |

Deutsche Post World Net recorded a decline in EBIT before non-recurring effects of around 8 percent in the third quarter compared with last year’s 468 million euros as the global economic environment deteriorated markedly. Third-quarter reported EBIT rose 26 percent from last year’s 1.68 billion euros, reflecting a 572 million-euro non-recurring effect on EBIT due to a repayment from the German government following a court decision on EU level. In the first nine months, underlying EBIT gained 1.3 percent compared with the year-earlier period.
The Group now expects underlying EBIT for 2008 of around 2.4 billion euros, some 10 percent below last year’s result and 17 percent below the previous guidance. Adjusted for the accounting changes following the agreement to sell a 29.75 percent stake in Deutsche Postbank AG to Deutsche Bank AG, the Group previously had forecast EBIT of around 2.9 billion euros. Including Postbank, the forecast was 4.1 billion euros. For transparency reasons, the Group will be showing EBIT without Postbank going forward. The main shortfall will be seen in the EXPRESS Corporate Division, which is being particularly impacted by deteriorating market conditions in the U.S. The Group also recorded volume shortfalls in other regions, but those could be mitigated through cost-cutting. Other divisions are likely to be slightly below previous guidance.

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Integrator shares rocked by financial sector turbulence

Posted by | Oct 17, 2008 | |

Shares of Deutsche Post World Net, TNT, UPS and FedEx have been hit dramatically in recent weeks by the turbulence in world financial markets but also by clear signs of a slowdown in the international express business. The outlook for the forthcoming weeks and months remains uncertain.

Since the start of September, TNT shares have fallen nearly 40pct, DPWN shares have dropped 37pct, FedEx shares are down 20pct and UPS has declined 19.5pct, according to CEP-Research analysis. Since the start of 2008, DPWN is down 57pct, TNT is down 44.9pct, UPS has fallen 25.3pct and FedEx has dropped 23.1pct.

“Integrator shares have clearly been impacted by the general slump on the world stock exchanges. But investors also appear nervous about how the economic slowdown will affect the express and parcel sector,” commented Mark Winkelmann, managing partner of ITA Consulting, the CEP-Research parent company. “There are certainly widespread indications of customers downtrading from expensive air express services to cheaper and slower economy products. It is unclear however whether this is a short-term or a longer-term trend.”

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Deutsche Post: Letter mail prices within Germany to remain stable in 2009

Posted by | Oct 13, 2008 | |

The prices charged by Deutsche Post for letters and postcards sent within Germany will remain unchanged next year. The Federal Network Agency responsible for regulating the most important mail prices thus confirms the pricing proposal submitted by Deutsche Post.

After a price reduction in 2003, postage for the Standardbrief (standard letter) in Germany remains stable at 55 cents for the seventh year running, with no change to the high quality of service.

The prices for other domestic mail products, such as postcards, Kompaktbrief (compact letter), Großbrief and Maxibrief (oversize letters) as well special services remain unchanged. With inflation currently running at more than three percent, Deutsche Post is clearly bucking the general price trend. Despite rising production costs, Deutsche Post customers will benefit from stable mail prices in 2009 too.

Under the terms of the statutory pricing procedure Deutsche Post has the opportunity to increase prices in 2009 by an average of 0.4 percent for a fixed basket of goods consisting of domestic and international products. The company will not make full use of this flexibility, however, and will instead only implement a slight price increase of 0.1 percent on average through pricing changes applicable to international mail items.

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