Tag: Europe

All comers to gain access to post office network

Posted by | Nov 10, 2006 | |

Following a European Union directive to liberalize mail markets by 2009, the Cabinet is expected today to approve a measure to allow outside operations to gain access to Spain’s post office infrastructure.

Under the proposal, state and private postal operations will be able to use the Correos’ network, including its employees and vehicles, to offer their own services. Delivery firms such as Germany’s Deutsche Post and Holland’s TNT, as well as private companies, already operate in Spain but do not have access to Correos’ infrastructure.

The Spanish postal service, which is this year marking its 250 anniversary, has more than 4,000 offices throughout the country with 65,000 employees. According to the EU, postal services handle about 135 billion items a year amounting to Euro88 billion in revenue or one percent of community GDP.

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Austrian Post: Earnings Improvement in Q1-3 2006

Posted by | Nov 10, 2006 | |

Austrian Post: Earnings Improvement in Q1-3 2006

Revenues +3.0%, EBIT +26.5%

– Group revenues up 3.0% to EUR 1,271.1m

– Solid revenue development in all divisions (Mail: +1.9%, Parcel & Logistics +8.6%, Branch Network +5.2%)

– Successful acquisitions in 2006 ( Kolos/Slovakia, Wiener Bezirkszeitung/Austria, Weber Escal/Croatia, trans-o-flex/Germany)

– Earnings before interest and tax (EBIT) up 26.5% to EUR 93.7m

– Operating cash flow remains strong: +3.4% to EUR 193.6m

– Upward revision of earnings forecast for 2006: EBIT increase of 15% to 20% expected

The first three quarters of the 2006 financial year developed very favourably for Austrian Post. Both revenues and earnings perceptibly improved in Q1-3 2006 compared to the same period in the previous year. Revenues climbed 3.0% to EUR 1,271.1m, whereas earnings before interest and tax (EBIT) for the Austrian Post Group rose to EUR 93.7m, or 26.5% above last year’s level. The share price also developed quite positively, considerably surpassing the performance of various comparable indices.

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Post offices may be given freedom to take on rivals

Posted by | Nov 10, 2006 | |

The Government hinted yesterday that Britain’s post offices should be allowed to take on competitors’ business to help put the network on a sure financial footing. Ministers will soon set the level of the annual pounds 150 million subsidy for the post office network after 2008. If it is cut heavily, thousands of post offices will have to close.

Mr Fitzpatrick said part of the solution was for the post offices, which are losing between pounds 2 million and pounds 4 million a week, to be allowed to look for new business. Under the current arrangement sub-post offices, which are private businesses, can only handle post for Royal Mail under an exclusive contract, rather than for other carriers such as DHL.

They are also not allowed to have alternative payment terminals in their shops, such as Pay Point terminals, which are now needed to sell TV licences.

Mr Fitzpatrick suggested that this sort of deal was likely to have to change. “We are doing all we can to help Post Office Limited provide new financial products.

“They are the biggest supplier of personal insurance, the biggest supplier of foreign currency, they have recently launched products like a new saver account and they are migrating people from post office card to other bank accounts.”

The National Federation of Subpostmasters has asked for a range of financial products including a student account, for them to sell.

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Exel takeover fuels growth at Deutsche Post

Posted by | Nov 9, 2006 | |

German logistics and mail giant Deutsche Post has reported double-digit growth both in turnover and profits for the third quarter of the year.

Turnover rose by 35% to Euro14.9bn (USD17,4bn) compared with the third quarter a year earlier, while net profits added 30% to Euro537m.

The increases were driven by the integration of British supply chain giant Exel and financial group BHW as well as through organic growth, the former monopoly said.

The main contributor to the company results was again the logistics division, which is the strongest segment. Thanks to Exel, turnover increased by 100% to Euro6.1bn compared with the third quarter a year ago, while earnings before income and tax surged 70% to Euro189m.

‘We have achieved growth by the integration of Exel as well as by organic growth,’ a spokeswoman for the logistics giant said. The integration had not been an obstacle, but a driver for growth, she added.

In September, DP clinched a GBP1.6bn (USD3bn) logistics services contract with the British government. The company will provide all procurement and logistics services for 600 hospitals and other health providers.

Over the first nine months of this year the logistics division achieved turnover of Euro16bn, of which Euro8.61bn stemmed from newly acquired companies. Most of the latter figure was directly attributable to the purchase of Exel.

Seafreight transport volumes in the quarter increased by 82% to 574,000 teu and air freight performed slightly better with an 84% rise to 1.1m tonnes. Turnover from seafreight amounted to Euro736m, up 52%. Air freight also saw a 52% increase to Euro1.2bn.

The company’s shares dipped 2.2% to euro21.87 yesterday afternoon on analysts’ predictions that even better results should be expected.

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Deutsche Post reports 30% rise in Q3 profit

Posted by | Nov 9, 2006 | |

German logistics conglomerate Deutsche Post World Net has reported a double-digit increase in revenue and earnings in the third quarter through September.

Consolidated revenue rose by 35% from E11.0 billion to E14.9 billion in the period, boosted by the acquisitions of logistics service provider Exel and financial service provider BHW.Profit from operating activities (EBIT) rose by 40.1% to E1.03 billion, including the expected income of E276 million from calling the exchangeable bond on Postbank stock in July prior to maturity. Consolidated net profit was E537 million in the third quarter of 2006, compared to E412 million in the year-earlier quarter, corresponding to a 30.3% increase. “On the whole, the company is doing well: Logistics and Postbank continue to post exceptionally strong performance and have made rapid progress with respect to integration. At the bank we were even able to finalize the process earlier than planned,” said Edgar Ernst, CFO. “The mail and express divisions, which both suffered a drop in earnings in the second quarter, posted higher profits again in the third quarter. In view of the traditionally strong Christmas quarter, I am very confident for the remaining weeks of the year.”Deutsche Post World Net is the parent company of global express and logistics business DHL, and, following the 2005 purchase of Exel, is the largest contract logistics company globally.

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