Tag: Germany

TNT Express improves airfreight service for heavier shipments

Posted by | May 7, 2008 | |

TNT Express Germany has extended its air freight service range with the introduction of a new service for door-to-door shipments exceeding 100kg to destinations outside Europe. For shipments below this weight, customers can use the already existing Economy Express service.

“The aim is to differentiate our comprehensive portfolio more clearly and to expand our competence in the air freight sector,” said Wolfgang Debusmann, Senior General Manager Special Services at TNT Express Germany. “Shippers with heavier freight thus gain an economical delivery solution without the common size and weight limitations and variable transit times,” he added.

“Our customers can now handle their express shipments as well as their air cargo shipments through a single provider,” added airfreight sales manager Ingo Haupt. “Up to now, the airfreight product has been used by a relatively small circle of customers. Through the re-structuring, this efficient service will be more interesting for all shippers.”

The new service is targeted both at occasional customers and existing customers with regular air freight business.

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Deutsche Post AG 2008 Annual General Meeting: Board of Management and Supervisory Board actions approved by large majority

Posted by | May 6, 2008 | |

Board of Management and Supervisory Board actions approved by large majority
At Deutsche Post AG’s Annual General Meeting in Cologne around 3,400 shareholders approved the resolutions proposed by the Board of Management and Supervisory Board by a large majority. Shareholders representing 99.99 percent of the company’s equity capital resolved, among other issues, to pay a dividend of 90 euro cents per share, 20 percent more than last year. The dividend is tax-free for shareholders living in Germany.

The Board of Management was again authorized to buy back own shares totaling as much as 10 percent of the existing share capital. Shareholders also authorized the Board of Management to issue bonds with warrants, convertible bonds and/or participating bonds (or combinations of these instruments) and to exclude subscription rights while at the same time granting contingent capital.

The actions of the Board of Management and Supervisory Board for fiscal year 2007 were approved by large majorities of 99.10 percent and 99.83 percent respectively.

The Annual General Meeting also elected Wulf von Schimmelmann with 98.14 percent to the Supervisory Board.

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Deutsche Post names new Head of ailing DHL U.S. unit

Posted by | May 6, 2008 | |

Deutsche Post AG replaced the head of the DHL Express unit’s unprofitable U.S. operations as the company tries to turn the business around.

Ken Allen, 52, previously Chief of DHL Express in eastern Europe, the Middle East and Africa, is taking over from Hans Hickler, Chief Executive Officer Frank Appel said at the annual shareholders meeting in Cologne, Germany, today. Hickler will remain on DHL Express’s global management board, said Nicole Mommsen, a company spokeswoman.

Appel is faced with reorganizing DHL’s U.S. express- delivery unit and is under pressure to decide whether to dispose of the company’s majority holding in the Deutsche Postbank AG retail bank. Bonn-based Deutsche Post will present a plan for the U.S. business by the end of May, Appel reiterated today. The CEO also stuck to earnings targets for this year and 2009.

“U.S. express business remains unprofitable and thus not satisfactory,” Appel said. Deutsche Post is reviewing all options for the unit, though a pullout from the U.S. market is “not an option.”

Deutsche Post fell as much as 22 cents, or 1.1 percent, to 20.59 euros in German trading and was down 0.2 percent as of 11:50 a.m. in Frankfurt. The stock has declined 12 percent this year, valuing the company at 25.1 billion euros (USD 38.9 billion).

DHL is the fourth-largest shipper of packages in the U.S., with 5.9 percent of the market, according to data compiled by SJ Consulting Group Inc. UPS is the biggest with 52 percent, followed by FedEx’s 30 percent and the government-owned U.S. Postal Service with 12 percent.

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Deutsche Post Annual General Meeting 2008

Posted by | May 6, 2008 | |

Acting in his new role as Chief Executive Officer of Deutsche Post World Net, Frank Appel held his debut presentation in front of around 3,500 shareholders.

The Board of Management and the Supervisory Board are proposing a dividend increase of 20 percent to 90 euro cents. That amounts to a payout ratio of 78.2 percent of the consolidated net profit attributable to Deutsche Post AG’s stockholders. Since the company’s IPO, the dividend has risen by an average of around 19 percent a year. “Like in the past, we will stick to our dividend policy and allow our shareholders to participate in the positive business performance,” Appel promised. Deutsche Post’s dividend is tax-free for shareholders living in Germany.

The Group has made good progress with the capital market program Roadmap to Value introduced in November. It is already clear that the goal of generating at least 1 billion euros from the sale of real estate by 2009 will be exceeded. In addition to property sales worth 350 million euros that have been agreed on since November, Deutsche Post World Net a month ago announced the sale of about 1,300 properties for 1 billion euros to U.S. investor Lone Star.

In 2007, revenue rose 4.9 percent to 63.5 billion euros. EBIT before non-recurring effects climbed 8 percent to 3.8 billion euros, meeting the Group’s expectations and forecast.

Reported EBIT dropped 17 percent to 3.2 billion euros following a non-cash asset writedown in the EXPRESS Americas business. As a result, net income after minorities fell 28 percent to 1.4 billion euros, and earnings per share dropped to 1.15 euros from 1.60 euros.

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Deutsche Post World Net: Preview of the first quarter 2008

Posted by | May 5, 2008 | |

Business in the first quarter of 2008 was very satisfactory with underlying profits making progress year on year and being in line with our targets and guidance. There were two fewer working days in the first quarter, which will reverse in the second quarter. Last year’s first-quarter LOGISTICS result included a 59 million-euro profit from the disposal of Vfw.

Volume growth and general trends, particularly in the LOGISTICS and EXPRESS Business Divisions, continued to be similar to the latter part of 2007. New order intake from major accounts (Global Customer Solutions) and from LOGISTICS generally was encouraging.

In its customer business Deutsche Postbank recorded, adjusted for the impact from capital market turbulence, a good operating result in line with plan.

The company continues to make progress in refining our plan to improve performance substantially in the U.S. EXPRESS business. The company said it will make a further announcement on the initiative, as guided, by the end of May.

Detailed first-quarter results will be published, as planned, on May 14, 2008. A conference call for investors will be held at 2 p.m. (CEST) that day.

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