Tag: Germany

Deutsche Post seeks tie-up in U.S. for Express, but not with UPS

Deutsche Post AG. is seeking to solve problems at its loss-making Express business in the United States by forming a cooperation with a partner in that country, with Fedex Corp and the U.S. Postal Service as likely candidates, Euro am Sonntag reported, citing sources.

It said Deutsche Post has ruled out United Parcel Service Inc as a potential partner.

If Deutsche Post does not find an appropriate partner, it would let its DHL Express unit operate key hubs in the United States and then work with regional-based companies to deliver the parcels, the report said.

Deutsche Post chief executive Frank Appel told the AGM on May 6 that a complete exit from the U.S. market is not an option for the company.

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Warsaw is cultural capital with the lowest price tag

Culture vultures who want to save hundreds of pounds on the cost of an arts and entertainment-packed short break should head for Warsaw. The Polish capital was far and away the cheapest city for a cultural weekend away, according to the new Cost of Culture report conducted by Post Office® Travel Services.¹

Even though sterling buys 22 per cent fewer Polish zloty than a year ago, the GBP 75 price tag – which included visits to Warsaw’s historic art galleries, museums and heritage sites, together with nights at the renowned Polish National Opera, ballet and a symphony concert² – weighed in at less than 25 per cent of the equivalent London cost.

London proved by far the most expensive of the 10 cultural capitals surveyed by the Post Office®. Its itinerary of 10 cultural highlights, which included trips to the Royal Opera House, Buckingham Palace and the Victoria & Albert Museum, costs around GBP 308, despite the offer of free entry to its national museums and galleries.

By contrast, while the sliding pound has made Prague up to 25 per cent more expensive than a year ago, the Czech capital rates as great value for lovers of the arts. It was second only to Warsaw, at just under GBP 104 for a culture-filled trip.

The survey of Europe and North America’s top cultural centres included six eurozone capitals and, as with other price comparison reports by the Post Office®, revealed a huge disparity in costs between these destinations.

The Cost of Culture survey identifies the five best value choices for each of the six cultural categories researched (allowing one entry per city in each category)³ and found that Paris was the only city not to feature. However clued-up culture vultures can cut their costs by visiting Paris on the first Sunday of each month, when galleries are free.4

The Post Office® Cost of Culture survey is available online for holidaymakers to view at postoffice.co.uk/costofculture

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Postbank to put property portfolio up for sale

Deutsche Postbank is putting up for sale a majority of its property portfolio, a spokesman for Germany’s biggest retail bank said on Tuesday.

He said the bank was evaluating the disposal of a packet called of 25 of its office buildings, confirming a story released by the Financial Times Deutschland newspaper on Tuesday ahead of publication on Wednesday.

The reason for the sale is that real estate management is not a core business for the bank, the spokesman said. A decision about the sale should come in the second half of the year.

The newspaper reported the buildings owned by Postbank were worth between 700 and 800 million euros (USD 1.1-USD 1.2 billion).

Postbank has hired Morgan Stanley, which has previously managed a real-estate sale for parent Deutsche Post, to handle the transaction, according to the report.

In April, Deutsche Post sold property worth a billion euros to U.S. Investor Lone Star LS.N.

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Deutsche Post World Net: First quarter on target

Deutsche Post World Net started the year of 2008 with solid performance in the first quarter: Underlying EBIT rose 6.4 percent to around 1 billion euros, meeting the Group’s own targets. That was despite the fact that the quarter had two working days less than the year-earlier period.

Reported EBIT declined 14.7 percent to 851 million euros due to non-recurring expenses at Deutsche Postbank tied to the crisis on the financial markets. Revenue totaled 15.7 billion euros, up 1.8 percent from the year-earlier period, excluding negative currency effects the increase was around 6 percent.

Deutsche Post World Net is aware of the uncertainties in the world economic development. Even so, at this point in time, the Group has no reason to change its full-year earnings forecast of around 4.2 billion euros in EBIT before non-recurring effects and around 3.2 billion euros in pretax profit.

The MAIL division projects EBIT of around 1.95 billion euros for 2008. The EXPRESS division is expected to generate EBIT of around 500 million euros, while the LOGISTICS division is scheduled to increase EBIT to around 1.05 billion. The FINANCIAL SERVICES segment projects EBIT of around 1.2 billion euros. A loss of around 550 million euros is forecast for Corporate Center / Other.

The guidance of around 4.7 billion euros in EBIT before non-recurring effects for 2009 has also been reaffirmed.

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Industry chiefs to debate key issues at World Mail & Express conference

Over 40 leading senior executives from the express and parcels industry in Europe and around the world head the speakers’ list for the World Mail & Express Europe Conference in Budapest on May 19-21, 2008.

The agenda at the 2008 conference includes two days of critical debate, high-level discussion and excellent networking opportunities for all sections of the industry. The overall theme of the conference will be “Re-defining Mail & Express” with topics under discussion such as globalisation and liberalisation, new business models and new revenue opportunities, the environmental challenge, and how ‘intelligence’ needs to be built into new products and services.

Among the top-level speakers are host Pal Szabo (CEO Hungary Post), Ulrich Gygi (CEO Swiss Post), Massimo Sarmi (CEO Italy Post), Jürgen Höfling (CEO DHL Global Mail), Dr. Andreas Taprantzis (CEO Hellenic Post), Motshoanetsi Lefoka (CEO South Africa Post), Hans Boon (CEO HayPost) and Avi Hochman (CEO Israel Post).

The World Mail & Express Europe Conference, which is accompanied by the World Mail & Express Europe Exhibition, is targeted at decision-makers in the express and parcels industry, industry suppliers and customers from all industries. CEP-Research is an official Media Supporter for the event.

On the eve of 19 May the 2008 World Mail Awards will be presented to the industry’s top performers and innovators. Widely acknowledged as the industry’s opportunity to reward and recognise best practice, the World Mail Awards gala dinner attracts around 300 of the top executives from the postal world. 12 award categories ensure that winners come from over 120 applications from 38 different countries.

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