Tag: Germany

Deutsche Post Raises Goal – Postbank IPO Helps Profit

Posted by | Jul 30, 2004 | |

Deutsche Post AG, Europe’s largest postal service, raised its earnings forecast for the year after a gain from last month’s sale of stock in the consumer-banking business helped boost second-quarter profit 87 percent. Deutsche Post shares rose as much as 3.4 percent.

Earnings before interest, taxes and amortization in 2004 will probably rise by 7.5 percent to 12.5 percent and will reach “at least” 3.6 billion euros (USD4.3 billion) in 2005, Chief Executive Klaus Zumwinkel told journalists in Bonn. The previous forecast had been for growth of 5 percent to 10 percent in 2004.

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Deutsche Post mulls taking 25 pct in Post Danmark

Posted by | Jul 30, 2004 | |

Deutsche Post World Net AG is considering buying a 25 pct stake in Danish postal service Post Danmark, Deutsche Post management board chairman Klaus Zumwinkel said at a news conference after the release of first-half results.

Deutsche Post is participating in the bidding process for Post Danmark, he said.

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German Deutsche Post to close down up to 1,000 post offices

Posted by | Jul 28, 2004 | |

Deutsche Post, the German postal service operator, has confirmed that it is examining the viability of its small post offices. Market experts are speculating that up to 1,000 post offices might be closed down and will be partly replaced by postal agencies based at food shops, while German trade union Verdi believes that up to 1,700 post offices might be shut down.

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Deutsche Post EBITA flattered by Eur70 mln Postbank IPO gain

Posted by | Jul 27, 2004 | |

Deutsche Post World Net AG is set to disclose Friday that its first-half EBITA had a boost of about 70 mln Eur as a result of the IPO of banking arm Postbank AG last month, analysts polled by AFX News said.

First-half EBITA is predicted to be in the range of 1.60-1.66 bln Eur compared with 1.47 bln a year earlier, with sales at 21.06-21.13 bln against 19.2 bln.

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Deutsche Post to shut down several hundred of its smallest outlets in Germany

Posted by | Jul 27, 2004 | |

Deutsche Post AG said it plans to close several hundred of its smallest outlets throughout Germany as part of a cost-cutting program the company initiated in 2002.

Service from the closed outlets will be moved to franchises in supermarkets, news stands and other stores, the company said. Closing these businesses will not lead to any job losses, spokesman Juergen Blohm said

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