Tag: Europe

Deutsche Post rivals warn against extension of mail delivery monopoly

Posted by | Feb 26, 2007 | |

Deutsche Post World Net AG’s rivals have warned the government against extending the incumbent postal service’s mail delivery monopoly beyond 2008, daily Tagesspiegel.

‘Deutsche Post’s rivals have invested a lot of money to prepare for the liberalisation of the market. An extension would result in an enormous loss of trust,’ Ralf Wojtek, head of the Federal Association of International Express and Courier services, told the newspaper’s online edition.

Deutsche Post’s virtual monopoly on letter delivery for letters up to 50 grams is earmarked to expire at the start of 2008, with the EU seeking a continent-wide liberalisation of the market in 2009.

However, a broad alliance of politicians, businessmen and trade unionists is pressing the government to extend the monopoly in Germany until other EU countries end theirs.

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TNT ‘Focus on Networks’ strategy successful

Posted by | Feb 26, 2007 | |

TNT full-year revenues are up 7.8% and the operating income is 11.1% higher

TNT’s ‘Focus on Networks’ strategy seems to be working with 2006 group revenues up by 7.8% and operating income rising by 11.1%.

There was continued strong cash generated from operations – up by 14.0%.

The divestment of logistics and freight management activities was successfully completed.

New growth platforms were established in Express emerging markets – India, Brazil and China – and in European Mail Networks. Over Eur 1.9 billion of cash was distributed to shareholders in 2006.

There were strong results in the fourth quarter. A record margin of 10.7% was achieved in Express, with double digit revenue growth. Revenue growth in Mail continued, driven by a 28.1% increase in European Mail Networks.

In 2006 a dividend of Eur 292 million was proposed, a figure that was 7% higher than in 2005.

A new share repurchase of up to Eur 400 million was announced today, starting after the AGM. The outlook for 2007 aims at further revenue and profit growth.

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A good year for Norway Post

Posted by | Feb 26, 2007 | |

2006 was a good year for Norway Post. The Group’s preliminary accounts show earnings before tax of NOK 1.2 billion and a growth in revenues of 18.4 per cent compared to 2005.
Norway Post’s growth came from acquisitions and a high level of activity in the postal, logistics and ICT-services markets.

Norway Post’s revenue rose by 18.4 per cent to NOK 23.7 billion in 2006. The Logistics Segment experienced the most growth of all the segments with 70.5 per cent, following the acquisition of Frigoscandia, HSD Transport AS and the Johs Lunde Group’s refrigerated transport operations. The ICT segment’s revenues increased by 29.3 per cent after the acquisition of Allianse ASA. The Post Segment saw a 3.8 per cent drop in its revenues but positioned itself in 2006 for future growth by establishing CityMail in Denmark and expanding CityMail in Sweden.

The share of Norway Post’s revenues that came from foreign operations was 17.5 per cent in 2006, compared to 8.6 per cent in 2005.

The Group’s operating income (EBITDA) came to NOK 2,024 million in 2006, compared to NOK 2,694 million the year before. The decline compared to 2005 must be seen in light of the withdrawal of government procurements and lower revenues from banking services, totalling NOK 571 million. EBIT for 2006 came to NOK 1,313 million, compared to NOK 1,250 million in 2005.

The total letter volume rose by 4.1 per cent in 2006. The volume of addressed mail declined by 1.6 per cent, while unaddressed direct mail advertising increased by 8.8 per cent. The number of banking transactions via Norway Post’s sales network dropped by 7.9 per cent in 2006.

The Express Segment’s revenue rose by 12.1 per cent to NOK 4,245 million in 2006. The total parcel volume was 1.1 per cent less than in 2005, while the international parcel volume delivered by the PNL subsidiary rose by 15.2 per cent.
The Logistics Segment’s operating revenue increased by 70.5 per cent to NOK 6,925 million in 2006. The growth mainly came from the acquisitions of Frigoscandia, HSD Transport AS and the Johs Lunde Group’s refrigerated transport companies.
ErgoGroup’s operating revenue rose by 29.3 per cent to NOK 3,620 million in 2006. This growth was due to a large number of new contracts as well as the acquisition of companies, including Allianse ASA and AddIQ AB.

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Correos (Spain) launches `Flexible Deposit Extra'

Posted by | Feb 26, 2007 | |

BanCorreos – the new bank brand of Correos – launches to the market a new product, `Flexible Deposit Extra’. It is a traditional deposit, with guaranteed capital and without commissions, and has a yield of Euribor 0.30% less. It allows investing of very flexible form, from only 7 days up to 1 year. The minimum imposition is 600 euros. In addition, it allows anticipated cancellation recovering the invested initial capital.

This formula of customized saving comes to complete the product range of investment of the new brand of financial services of Correos and Deutsche Bank and it is characterized because of its advantageous and competitive conditions (for example, its current accounts without administration commissions nor maintenance), as much for the present clients of BanCorreos like for new potentials users.

From the 15th of February this deposit can be contracted in the 2.000 post multi-service offices of Correos in Spain.

BanCorreos has improved, as well, the conditions of his `Increasing Deposit’. From now on, it remunerates the placed deposits, from a minimum subscription of euro 2.000, with an interest of 3.7% the first year that raises until 3.9% the second year. These new conditions locate the `Increasing Deposit BanCorreos’ between the traditional products of saving that offer a greater yield of the Spanish market.

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'Big Brother' clocks in at the Royal Mail

Posted by | Feb 25, 2007 | |

The Royal Mail, which earlier this month revealed an 86 per cent plunge in profits, is spending hundreds of thousands of pounds installing television screens in every delivery and sorting office in the country.

Management will use the screens to convey information and updates on the company’s performance to staff, including speeches by chief executive Adam Crozier and chairman Allan Leighton – prompting wags inside the state-controlled postal group to dub it “Allan Leighton Direct” and to compare it to George Orwell’s Big Brother.

A Royal Mail spokesman declined to comment on the cost of the new communication system, but insiders believe it will set the business back considerably. The TVs are understood to be 42-inch Fujitsu screens, which retail for around GBP2,000 each.

The Royal Mail will be able to negotiate a discount but it is still buying a considerable amount: at least one will be installed in every site, including 1,400 delivery offices, the 470 post offices the group manages directly, administration centres and other depots.

The move comes at a time when the Royal Mail is being forced to tighten its belt as it confronts a gaping pension black hole and struggles to adapt to increased competition. Earlier this month, the group confirmed that interim operating profits had come in at GBP22m, against GBP159m a year earlier. Much of the decline was blamed on costs associated with the pension deficit, which rose by GBP1bn to GBP6.6bn. But the Royal Mail has also lost a number of corporate clients, including Carphone Warehouse, BT and Centrica.

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