Tag: Europe

Austrian Post dismisses trans-o-flex chief

Posted by | Oct 27, 2008 | |

Austrian Post has dismissed Klaus Heinz, head of its German parcel logistics subsidiary trans-o-flex, but is not planning any change in the company’s business model, according to CEP-Research information.

“Klaus Heinz has been relieved of all his functions”, a trans-o-flex spokeswoman said. She declined to disclose the reason for the decisions but added: “A re-positioning of trans-o-flex is neither intended nor planned.”

Wolfang Weber, head of operations and formerly deputy head of the management board, has taken over as management board spokesman in addition to his existing responsibilities. The other management board members are Thomas Mohorn, head of sales and marketing, and Thomas Doll, responsible for finances.

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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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TNT N.V. publish 2008 third quarter results

Posted by | Oct 27, 2008 | |

Express
– Operational revenue growth 5.9 pct
– Premium (air) volumes in Europe under increasing pressure in the quarter
– International Economy and Special Services products good revenue growth
– Good performance Emerging Platforms
– Operating income down 21.5 pct at constant fx
– Cost savings programmes aggressively being implemented
Mail
– Continued strong operational revenue growth Emerging Mail & Parcels
– Mail operating profit in line with outlook
Group
– Group in strong financial position, capital requirements substantially refinanced in August
– Net cash from operating activities YTD Q3 up 8.8 pct
Outlook
– Outlook Express revised downward
– Outlook Mail reaffirmed
CEO Peter Bakker comments: “As we had already highlighted in our October 16 trading update the conditions in our European Express business have significantly worsened in September and the first weeks of October. Air volumes in September were down an unprecedented 10 pct, while Road volumes were showing low growth. We expect this pressure on volumes to persist at least in the current quarter.
On the positive side the Mail business has performed in line with our outlook. Also we refinanced our capital requirements in August, ahead of the deepening of the financial crisis in September and October. This, coupled with our robust cash flow, leaves us on a solid financial footing.
In these times management focus on efficient operations is even more essential. Our Master plans in Mail continue successfully, we are aggressively implementing the announced € 125 million cost optimisation programme in Express, we focus on improving air network efficiencies and we target all other cost areas for savings as well. At our analyst meeting on 4 December 2008, we will provide further details in this respect.”

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Belgian postal service announces postage increases

Posted by | Oct 24, 2008 | |

The Belgian postal service (La Poste) has announced that it is being forced to increase postage prices from January 1, 2009

It said that: “Due to strong inflation and an increase in the prices of energy, certain postal services will see their prices increasing from January 2009.”

The price of a postage stamp, for a standard post in Belgium, will rise from EUR 0,54 to EUR 0,59 . It said the price (EUR 0,59 ) is still below average prices currently in force in Western Europe for items under 50 gr.

Other products will also see changes to pricing know an adaptation of their tariffs. La Poste said that more than 70 pct of the costs for the Post office were in wages, but rather than consider wage cuts, the price of stamps would have to rise to reflect the increase in costs associated with fuelling more than 6.000 vehicles and some 5.000 motor cycles. La Poste said it was feeling the impact of the big rise in the prices of the fuel: in one year, its fuel costs increased by 24 pct.

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