Tag: Europe

Preview of second quarter: Deutsche Post World Net

Posted by | Jul 23, 2008 | |

Although there was some evidence of market growth slowing in Air Freight Forwarding and Express in the second quarter, Deutsche Post World Net still showed strong growth in underlying EBIT of around 18 percent. On an underlying basis all divisions met or exceeded last year’s second-quarter results.
Revenue growth has been increased by higher fuel costs that were recovered from customers. At the same time, foreign exchange effects continued to reduce revenue growth compared with the year-earlier period.
The revenue increase before foreign exchange effects was approximately 9 percent in the second quarter and reported revenue increased by about 4 percent.
Based on the first-half results and assuming no significant worsening of the global economy, the Group is maintaining its full-year guidance for 2008 and expects underlying EBIT of 4.1 billion euros.
While the U.S. air express market continues to soften, measures to restructure DHL Express U.S. are on track and negotiations with UPS are making satisfactory progress. An update on this matter will be issued after the conclusion of negotiations with UPS.
The full set of half-year accounts will be released on July 31, 2008 at 07:00 CEST. A press conference with Chief Executive Officer Frank Appel and Chief Financial Officer John Allan will be held at 10 a.m. CEST. An investor call will be held at 14:00 CEST.

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Deutsche Post "overweight," target price reduced

Posted by | Jul 23, 2008 | |

Analysts at JP Morgan maintain their “overweight” rating on Deutsche Post AG while reducing their estimates for the company. The 18-month target price has been reduced from EUR 27 to EUR 23.3.

In a research note published on 21st July, the analysts mention that the company witnessed weaker-than-normal trends this summer due to macro economic and earnings concerns. Deutsche Post’s performance for the current year has also been negatively impacted by fuel, labour and cost concerns, the analysts add. Deutsche Post’s current share price does not reflect the robust volume trends in the company’s mail business and some other positive factors, JP Morgan believes. The adjusted EPS estimates for 2008 and 2009 have been reduced from EUR 1.86 to EUR 1.71 and from EUR 2.12 to EUR 1.76, respectively

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World's postal sector players meet for the 24th Universal Postal Congress

Posted by | Jul 22, 2008 | |

The development gaps that separate the postal services of industrialized and developing countries at a worldwide level must be reduced for citizens and businesses to better participate in international trade, said UPU Director General Edouard Dayan.

More than 2,200 postal sector stakeholders will participate in the 24th Universal Postal Congress, taking place in Geneva from 12 August. The majority of its 191 member countries will be represented.

According to Dayan, member countries must firmly commit to modernizing their postal networks so that, globally, they can fully contribute to their social and economic development objectives. Postal services are still alive and well, he said, adding that e-mail and the Internet had not rung the death knell for them. On the contrary, he added, all means of communication complement each other, and the postal sector in this era of the Internet and online commerce has never played a more key role in today’s commercial trade.

These challenges and others will be at the heart of Congress discussions and the World Postal Strategy UPU member countries will be asked to adopt. This strategy is designed around the interoperability of postal networks, using new technologies and harmonized international standards, the development of markets and more well-defined governance rules for the postal sector. Four objectives aim to better position worldwide postal services in the light of tougher competition, the opening up of markets, the advances made by new technologies, which offer new opportunities, and the need to improve their reliability and speed to respond adequately to individual and business needs.

Congress delegates will study 560 proposals. Some 330 are of a general nature or aim to modify the UPU Acts, an international treaty signed by all member countries at the end of Congress. The other proposals, more technical, will be examined by the next UPU Postal Operations Council. It will hold its first session after Congress in October at UPU headquarters in Berne.

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Swiss Post International acquires German-based GPD

Posted by | Jul 22, 2008 | |

Swiss Post International (SPI), the international Group unit of Swiss Post, has taken over Global Press Distribution GmbH (GPD) in Germany. With this acquisition, SPI is consolidating its position in the German export press market, the largest in Europe. GPD has a staff of 31 and generated sales of CHF 8 million in 2007.
The acquisition of Global Press Distribution GmbH (GPD) by Swiss Post International (SPI) will take effect retroactively to 1 January 2008. It was agreed that the purchase price will not be disclosed. GPD, whose registered office is in Moerfelden near Frankfurt, provides services connected with the international and national dispatch of magazines. Its customers in Germany include publishers, printers, lettershops and other service providers in the publishing industry. With a workforce of 31, GPD generated sales equivalent to CHF 8 million francs in 2007.
With this acquisition SPI is reinforcing its position in the export press business. The German press market is the biggest in Europe, with 400 newspapers and 200 magazine publications. By entering this market, Swiss Post is pursuing its strategy of establishing itself in international niche markets. Swiss Post now already generates 20 percent of its sales abroad and in its cross-border business. SPI is a wholly owned subsidiary of Swiss Post and currently employs 1,200 people in eleven European countries, five major cities in Asia and in the USA. SPI is now number five on the cross-border letters market after Deutsche Post, United States Postal Service, the UK’s Royal Mail and France’s La Poste.

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Estonian Post is allowed to decrease number of post offices to 419

Posted by | Jul 22, 2008 | |

Competition Board decided that the minimum number of post offices used for providing universal postal service will be decreased to 419, writes the National Broadcasting.

Estonian Post requested that the minimum required number be cut from 495 to 400.

The enterprise justified its application with the possibility to ensure providing service according to standards by using alternative options, hence, according to the opinion of the enterprise, there is no need for a stationary postal office in areas with low population density.

AS Eesti Post will ensure provision of service with postal delivery staff who collect and deliver post in the place of residence or of business of service users.

The Competition Board did not agree to allow decreasing number of post offices in four rural municipalities where the cut was not allowed due to the number of residence in these local government units.

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