Tag: Germany

Deutsche Post CEO sees EPS up 30 pct, still sees FY EBIT at least 3.6 bln eur

Posted by | May 18, 2005 | |

Deutsche Post AG CEO Klaus Zumwinkel reaffirmed the company’s full year earnings forecasts, and said he expects the state to sell off all its remaining holdings in the company in the medium term. Zumwinkel told the annual meeting that the company is sticking to its forecast of full year EBIT of at least 3.6 bln eur and a rise in net profit of 500 mln eur. Shareholders ‘will benefit (from an increase on) our 2004 earnings per share (of an estimated) 30 pct,’ he added. Zumwinkel said he expects the government and state-owned development bank Kreditanstalt fuer Wiederaufbau (KfW) to sell all of their shares in Deutsche Post in the ‘mid-term’, without giving a specific timeframe. ‘A reduction in the government’s holding to below 50 pct would be an important step in terms of market psychology… We expect that the complete privatization of our company … will be concluded in the mid-term. That is the goal in any case,’ he said.

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Otto Gruppe to open up distribution network to external customers

Posted by | May 16, 2005 | |

German mail order company Otto Gruppe is planning to open up its distribution network to external customers, according to a report in German daily Die Welt to be published tomorrow, citing unidentified sources.

Otto, which has been using its seven distribution centres and warehouses for the company’s own distribution needs, wants to offer its services to external customers in a bid to counteract falling sales at its German mail order business, which dropped around 5 pct last year, and to compete with rivals such as Deutsche Post AG’s DHL unit, the newspaper said.

The company is currently developing a plan on how to open up its business, with a final decision expected by mid-July, it said.

Otto Gruppe declined to comment, Die Welt added.

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Deutsche Post Q1 EBIT up 2.8 pct as revenues fall slightly

Posted by | May 11, 2005 | |

Deutsche Post World Net AG said first quarter EBIT rose by 2.8 pct to 871 mln eur, while revenues fell 0.4 pct to 10.526 bln as a result of a sales decline in the cash-rich mail business and in the express division. It said the prior-year figures were adjusted to reflect IFRS accounting standards, which the company started using this year. It will report from now on EBIT figures instead of EBITA, which analysts had forecast would fall below last year’s 937 mln eur.

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Deutsche Post has 2 percent gain in first quarter earnings; on track for full-year target

Posted by | May 9, 2005 | |

Deutsche Post AG announced Monday that its first-quarter profit rose by 2 percent, helped by increased air and sea freight revenue, and said it was on track to meet its full-year earnings target. The Bonn-based company earned EUR 455 million (USD589 million), or 41 euro cents (52 US cents) a share, in the January-March quarter up from EUR 446 million, or 40 euro cents a share, in the same period a year ago. Revenue for the quarter was down, however, falling to EUR 10.52 billion (USD 13.62 billion) from EUR 10.57 billion a year ago. The outlook was attributed to better revenue in the company’s mail business and because of operating improvements in the US. The company said it was still working to improve its DHL unit, which is in bitter competition with FedEx Corp. and United Parcel Service Inc. “This year, measures taken to ensure the continuing positive development of DHL’s US express activities are being implemented,” the company said. The unit lost EUR 133 million (USD 172.2 million) in the first quarter, but that was an improvement from the
EUR 147 million loss in the same period last year.

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