Tag: Germany

Deutsche Post meets 2004 profit targets

Posted by | Jan 14, 2005 | |

Deutsche Post managed to meet its full-year profit targets last year, chairman Klaus Zumwinkel said in comments released Friday.

Deutsche Post had been pencilling in underlying profit growth of 7.5-12.5 percent for last year compared with a figure of 2.975 billion euros (3.9 billion dollars).

That would mean earnings before interest, tax, depreciation and amortisation (EBITDA) had been expected to amount to 3.2-3.35 billion euros in 2004.

Zumwinkel told journalists at an event in Bonn on Thursday evening that the EBITDA target had been met.

Deutsche Post’s activities in the United States had turned in a loss of around 500 million euros, which was a “slight disappointment,” the chairman said.

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KfW to issue Deutsche Post exchangeable bond of at least 500 mln eur in Japan

Posted by | Jan 12, 2005 | |

German state development bank Kreditanstalt fuer Wiederaufbau (KfW) said it is to issue in Japan a 5-year Uridashi bond exchangeable into shares of Deutsche Post AG, worth at least 500 mln eur. The exact size of the bond depends on demand, but is expected to raise at least 500 mln eur, equivalent to 2.3 pct of Deutsche Post’s share capital or 25.4 mln shares, the KfW said in a statement.
It is the first foreign currency exchangeable bond ever to be offered by a non-Japanese issuer in Japan.

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KarstadtQuelle sells stake in Europapier to Bertelsmann

Posted by | Jan 11, 2005 | |

KarstadtQuelle AG sold its stake in paper wholesaler Europapier AG to Bertelsmann AG unit Arvato at the end of last month, a spokesman for the German retailer told dpa-AFX news agency. He declined to comment on financial details.
The next project on the agenda is the sale of the MDAX-listed company’s logistics operations, he said, adding there are ongoing talks with Deutsche Post
World Net AG’s unit DHL.

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KfW buys 12.7 pct Deutsche Post stake from German govt for 1.7 bln eur

Posted by | Jan 10, 2005 | |

The KfW Bankengruppe said it bought a 12.7 pct stake in Deutsche Post World Net AG from the government for 1.7 bln eur. Last Monday, the Frankfurter Allgemeine Zeitung reported that the government would transfer approximately a 12 pct stake in Deutsche Post KfW to KfW for 1.7 bln eur. KfW later confirmed it would receive a 12 pct stake, but did not disclose how much it would pay. The deal increases KfW’s stake in Deutsche Post to about 48.8 pct from 36.5 pct, it added.

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