Tag: Europe

Deutsche Post is sending out more than 20 million notifications on the 2007 pension adjustment

Posted by | Jun 20, 2007 | |

In the next few days, Deutsche Post will be sending out approximately 21 million notifications on the 2007 pension adjustment to pension recipients in Germany and abroad.

As of July 1, 2007, pensions are being adjusted based on the Pension Valuation Regulations (“Rentenwertbestimmungsverordnung”) of 2007. Deutsche Post’s Pension Service is carrying out the necessary work on behalf of the pension and accident insurance institutions for the vast majority of pensions based on the fixed adjustment rates. In the case of pensions that are paid in advance, the new payment amounts will be remitted for the first time at the end of June, and all others, at the end of July 2007.

The dispatch of all notifications will be completed by mid-July 2007.

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Putting real time information centre stage

Posted by | Jun 20, 2007 | |

The rise in digital research techniques is transforming the corporate value of market research. As organisations look to leverage a growing multi-channel consumer base, research projects are no longer one off, ad hoc events addressing specific products, customer groups or distribution channels. Chris Russell, Director of eDigitalResearch discussed how automated online research now delivers unprecedented access to real time information across every aspect of the business.

This research is not just providing faster, lower cost access to critical business information. It is enabling business change. Providing automated reports to logistics, buying teams, customer services and product managers; online research is now becoming an integral part of key business processes.

Indeed, if organisations are to effectively leverage multi channel strategies they need to recognise the value of online research as a proven driver for business transformation.

New Model
For years organisations have relied upon traditional printed, telephone and face to face research methods to gain insight into operational performance, customer satisfaction and new business opportunities. From in depth qualitative studies to brief quantitative customer surveys, market research has played an important role in monitoring business performance and, via focus groups, supporting business direction.

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New loyalty scheme brings revenue stream to retailers

Posted by | Jun 20, 2007 | |

Webloyalty has launched its shopper discounts and rewards programme in UK. The scheme has been running successfully in the US with 140 retailers and has now moved to the UK market with Interflora being the first retailer to sign up for the new concept.

Membership to the Webloyalty scheme is offered on participating retailers’ sites once a customers has completed a purchase. When a shopper would normally see a thank you for your order or click here to continue shopping message, an offer is highlighted – such as money off future purchases. They can then click through to the Webloyalty site and find out more or sign up for the scheme.

Interflora customers, for example, have the option to join Webloyalty’s Shopper Discounts and Rewards programme and received up to 40% off online purchases with retailers such as M&S, John Lewis, Asda, Tesco, PC World and Lastminute.com. New members also receive a GBP 10 cash back voucher towards their next purchase at Interflora.co.uk. This GBP 10 is funded by Webloyalty.

The retailer benefits from an extra revenue stream since Webloyalty pays retailers for each new member that signs up. It’s also adding value to the customer’s purchase and deepening the relationship between the retailer and shopper. Michael Barringer, Marketing Director of Interflora said that this, along with the transparency, is amongst the factors that made the scheme appealing to the company.

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Citigroup sees Greek Postal Bank as a takeover candidate

Posted by | Jun 19, 2007 | |

Citigroup has initiated coverage on Greek Postal and Savings Bank (PSB) with a Hold/Speculative Risk (2S) rating and euro 17 target price, which is slightly lower than current price, but Citigroup analysts note that the Bank is a potential consolidation candidate.

PSB is a domestic Greek Bank with access to the Greek Post Office network. As a result, the company has access to the largest distribution network in Greece. In addition, PSB’s highly successful deposits passbook is held by about a quarter of the Greek population. PSB’s loan to deposit ratio is the lowest in the Greek market, implying substantial excess liquidity which could be reallocated into lending.

Management intends to double its retail market share by 2009, and Citigroup analysts believe this target is achievable. “We expect an increase in PSB’s lending market share to result in margin expansion.”

However, PSB’s growth is not without execution risks. Greek lending margins are under pressure, and PSB’s aggressive pricing is not helpful to the system. Also, the company’s ample liquidity is invested in long dated bonds, with yield falling as the book matures. Although the management team did diversify its investments, the amount of risk taken may have increased. Finally, PSB’s expansion in the consumer market may require additional loan loss provisions.

The Greek state is still a majority owner of PSB, with a 65% stake, but the government has repeatedly announced its intention to dispose of a further 15%-20% stake in the company. An eventual placement would be helpful to the company’s restructuring flexibility. In addition, should a placing be completed, PSB could become a potential takeover target. However despite the current M&A focused environment, PSB’s valuation remains rich, even if we adjust for a possible takeover premium.

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DHL gears up for ''soft'' Leipzig hub launch

Posted by | Jun 19, 2007 | |

DHL grows at Leipzig DHL Express will gradually build up flight operations at its new EUR 300 million European air hub at Leipzig over the coming 12 months to ensure a smooth transition from its existing hub in Brussels and to avoid the kind of operational problems that hit the opening of its US hub at Wilmington two years ago.

In July, DHL handling staff from Brussels, Cologne and Britain will test loading and unloading procedures at Leipzig, Achim Zimmermann, Sales Manager West at DHL Express Germany, said in an interview at the Transport Logistic trade fair in Munich. Leipzig will be one of three DHL Express intercontinental air hubs alongside Wilmington and Hong Kong on opening in mid-2008.

DHL Express already operates 14 cargo planes on European overnight flights between Leipzig, the Brussels hub, its Cologne gateway and a number of Central and Eastern European destinations. These services, carrying about 160 tonnes of cargo daily, were moved from Berlin Schoenefeld airport over the last two years. The DHL hub buildings are currently under construction on a 53 hectare area adjoining the extended, 3.6 km southern runway.

In the next phase, about 6-8 flights will be transferred from Cologne to the Leipzig gateway during the third quarter of this year, Zimmermann said. All Cologne flights are scheduled to move to Leipzig by the end of 2007. During the first half of 2008, flights will gradually be transferred from Brussels to Leipzig.

In view of the operational difficulties at the opening of the Wilmington hub in autumn 2005 when two different hubs were merged at one location, DHL Express is taking a more cautious approach this time. “We have a back-up scenario. Cologne and Brussels will remain open as gateways. If there are any problems at Leipzig, we can relocate immediately,” Zimmermann pointed out. “We will always be able to switch in future if there are any problems.”

In particular, DHL Express will be responsible for its own aircraft handling at Leipzig, making it independent of airport staff and creating opportunities for third-party handling contracts, he noted. DHL will also have its own hangar for technical maintenance.

At Leipzig, DHL Express would benefit from the proximity of DHL parcel and freight forwarding facilities, the airport’s close geographical position to emerging markets in Central and Eastern Europe, its good multi-modal infrastructure with motorway connections and a nearby railhead, and the relocation of logistics facilities to the airport’s surrounding area, Zimmermann pointed out.

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