Tag: Europe

Performance improvement driven by higher income and lower expenses

Posted by | Sep 3, 2008 | |

In the first half of 2008, Post Danmark achieved a profit before tax of DKK 616 million compared with DKK 355 million in the same period last year.

The profit performance for the half-year was somewhat better than expected. Income rose nearly 2 per cent, while expenses were almost 1.5 per cent below last year’s level. The fall in expenses resulted from, among other things, a downward adjustment of DKK 126 million made in relation to the Group’s pension adjustment obligation, reflecting the effect of a gradually later age of Post Danmark employees when they retire. Lastly, the financial statements showed an increase in income from the Belgian postal company De Post – La Poste.

The financial statements were affected positively by the fact that it has been possible for Post Danmark to implement staff reductions due, among other things, to the major changes made in the distribution structure of the company. Changes that also equip Post Danmark for future challenges of a heated labour market.

Post Danmark’s expectations for the full year of 2008 are maintained. Thus, profit before tax is expected to be somewhat higher than in 2007. 1 USD = 5.15895 DKK

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La Poste Group results – 1st half 2008

Posted by | Sep 2, 2008 | |

La Poste’s Board of Directors approved the Group’s financial statements at 30 June 2008.

The March 2008 sale of the airline company, Europe Airpost, was the main change in scope during the half. This sale meets the Group’s objective to withdraw from the air transport business to give priority to its portfolio of strategic activities. Group turnover amounted to EUR 10.556 billion.

The Group’s strategy is based on the complementarities of its business, Mail, Parcel-Express, Financial Services and La Poste Retail Brand, which let it diversify its risks. Consequently, the sustained growth in Parcel-Express and Financial Services activities were able to partially offset in the 1st half the larger than forecast impact on the Mail business of the economic slowdown and the increase in fuel and fluid prices.

The Group confirms its goal to continue its development in growing markets in each of its three business sectors. Therefore, in the 2nd half 2008, it will seize all acquisition opportunities likely to fulfil this goal under satisfactory asset conditions while being careful at the level of its debt ratios, which remain high in its current equity level context.

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Correos – flexible working is raising quality (SPA)

Posted by | Sep 2, 2008 | |

Correos, the Spanish postal operator says that flexible working has seen an improvement of 7.85 points on its quality of service for delivery times from the end of 2006, the date at which it began to apply its new revenue model. Based on stable employment and quality, the postal operator delivered 64 pct of ordinary mail by the following day compared to 56 pct in 2006.

Flexibility including a mix of permanent and semi-permanent staff which allows staff to transfer to other departments or take time out, has enabled Correos to raise staff levels during busy periods. Over the summer, Correos employed 1,700 staff on a fixed-discontinuous basis to help on foot and motorcycle deliveries and as a result made Correos far more efficient. Correos is one of the biggest employers in Spain with more than 63,000 employees

Correos favours a decentralized, agile and more dynamic management of human resources and says it can pay off for staff too who join on this basis, enabling the postal operator to evaluate new recruits as well as new employees getting a feel for the job. According to Correos, those entering the service in a fixed-discontinuous role, then have opportunities to move to a permanent contract or transfer. Around half of those starting at Correos do just that and the arrangement allows Correos to make the best use of it’s workforce.

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La Poste national strike on Sep 23

Posted by | Sep 2, 2008 | |

Unions have called for a national strike by post office workers to protest at government plans they say will lead to the privatisation of La Poste.

Six unions have said they will demonstrate against the government’s decision to change the status of La Poste from – a move seen as a preview to selling off parts of the group.

The unions have called on customers to sign petitions against the privatisation of La Poste and say a full public debate should be held on the issue.

The President of La Poste, Jean-Paul Bailly, said the company would become a société anonyme from January 2010 with the possibility of private investment a year later.

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Austrian Post Acquires Hungarian Company: Cont Media

Posted by | Sep 2, 2008 | |

Austrian Post acquired a 100 pct shareholding in the Hungarian company Cont Media Hungary kft. The closing took place on September 1, 2008. In 2005, Austrian Post had already acquired feibra Hungary, the leader on the Hungarian market for unaddressed direct mail. The Austrian Post Group has now also taken over Cont Media, the second largest company in this market segment. As a result of the acquisition of Cont Media, Austrian Post now has a nationwide logistics network for distributing advertising brochures on the important Hungarian market. On balance, feibra and Cont Media jointly have a market share of slightly 60 pct.

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