Tag: Germany

FedEx launches industry’s first direct connection between mainland China and Europe

Posted by | Mar 3, 2005 | |

FedEx Express has launched the express air cargo industry’s first direct flight from mainland China to Europe. The flights, which will provide daily service from Shanghai, China to Frankfurt, provide numerous benefits for FedEx customers worldwide. “Again, FedEx leads the express industry in connecting our global customers with the world’s fastest growing market, China. The new flights emphasize the importance of China on the world business stage and the flourishing trade and political ties between China and the European nations,” said Michael L. Ducker, executive vice president-international, FedEx Express. “This past year, Europe became China’s number-one trading partner, and this new flight strengthens our leadership in facilitating trade between Asia, Europe and North America. These trade benefits are the direct result of the liberalization of China’s aviation market and support our belief that the elimination of trade barriers encourages global economic growth.”

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Deutsche Post withdraws bid for La Poste

Posted by | Mar 3, 2005 | |

Deutsche Post AG has withdrawn its takeover bid for the Belgian state-owned La Post, according to a report in Die Welt, which did not cite any sources.

The bidding group of Dutch TPG and French La Poste is now considered front-runner to win the bid, it said.

Deutsche Post has also withdrawn its application to the German cartel office for approval of the acquisition of KarstadtQuelle’s department store and mail order logistics needs, Die Welt said.

Deutsche Post subsidiary DHL bought KarstadtQuelle’s logistics operations in late January in a deal worth 200 mln eur.

But both Deutsche Post and KarstadtQuelle rejected claims by the newspaper that the application was withdrawn because of concerns that the cartel office would not approve it in the first place.

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Pro-Liberalisers urge more vigilance from national regulators

Posted by | Mar 2, 2005 | |

National regulators need to be more zealous in applying the 2002 postal services directive, the pro-liberalisation Free and Fair Post Initiative (FFPI) says. “The current situation is far from satisfactory in most member states” as anti-trust probes are “especially rare”, FFPI president Philippe Bodson said in a recent open letter to the European Commission. He wants regulators to pay more attention to price-fixing and cross-subsidisation, the practice where postal operators use profits made in the monopolised sector to fund parts of its business competing on the open market. Mr Bodson said the Commission’s “track record in this field is encouraging” and urged it to continue actively investigating anti-competitive behaviour.

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Deutsche Post to raise dividend after earnings jump in 2004

Posted by | Mar 1, 2005 | |

Deutsche Post said Tuesday it would increase its dividend to shareholders after earnings rose sharply in 2004. Deutsche Post said in a statement it would propose raising the dividend to 0.50 euros (0.66 dollars) per share for 2004 from 0.44 euros a year earlier after group net profit rose by 21.3 percent to 1.59 billion euros last year. Full details of 2004 results would be published on March 22.

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Deutsche Post in 2004 increases revenue and earnings

Posted by | Mar 1, 2005 | |

Deutsche Post World Net posted a 7.9 percent sales increase to about 43.17 billion euros in 2004 and fully met its earnings targets. At about 3.35 billion euros, Group operating profit (EBITA) was 12.5 percent higher than a year earlier, the upper end of the forecast range. Group net income rose by 21.3 percent to about 1.59 billion euros, or 1.43 euros per share. That compares with 1.18 euros per share in 2003. The Group tax rate was 20 percent in 2004. The company reaffirmed its EBITA-target of at least 3.6 billion euros for 2005.
“Over the past 10 years, the group has been focusing on privatization and internationalization. Our latest results show how far we have come in this process. We want to share the financial rewards of this development with our shareholders,” said Chief Financial Officer Edgar Ernst.

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