Tag: Germany

Deutsche Post examines acquisition of Norisbank

Posted by | Jun 6, 2003 | |

The management of Deutsche Post, Germany’s postal service operator, has confirmed that it is examining whether to acquire Norisbank, the Nuremberg-based subsidiary of HypoVereinsbank, Germany’s second largest bank. The profitable retail loan specialist is up for sale. Postbank, Deutsche Post’s banking subsidiary, is currently the only potential German buyer of Norisbank, which operates roughly 100 retail branches and has approximately 500,000 customers.

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German Deutsche Post reports continuation of first quarterly trend

Posted by | Jun 6, 2003 | |

Deutsche Post, the German national postal service operator, saw turnover up by 0.7 per cent to 9.77bn euros, and ebita up by 5 per cent to 951m euros, for the first quarter of 2003. Business for April is also reported to have shown a continuation of the favourable development reported for the first three months. Management has confirmed the annual target for ebita of at least 2.8bn euros, compared with 3bn euros for 2002. In view of the company’s obligation to reduce postage charges and the weak economy, this fairly stable development forecast has been viewed positively by analysts.

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Deutsche Post defends closure of post offices

Posted by | Jun 6, 2003 | |

The management of Deutsche Post, Germany’s postal service operator, has defended cost reduction measures such as the planned closure of up to 800 post offices this year. Chairman Klaus Zumwinkel announced at the annual general meeting that the company would still comply fully with its postal obligations.

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No parcels from Deutsche Post on Mondays

Posted by | Jun 4, 2003 | |

Deutsche Post is planning to massively change the parcel delivery service and contract it out to foreign companies. In addition, parcels will only be delivered on five instead of six weekdays, on Mondays Deutsche Post customers will have to forego mailing parcels. Deutsche Post has selected Nuremberg as a test market for this summer.

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