Tag: International

TNT to leave German market?

Posted by | Nov 10, 2007 | |

TNT NV is mulling whether to turn its back on the German postal market, its Chief Financial Officer Peter Bakker said in a letter to German Chancellor Angela Merkel.

The letter was reported on Saturday by Dutch media, including Het Financieele Dagblad, and confirmed by a TNT spokesman.

Bakker told Merkel in the letter that he strongly opposes plans for high minimum wages and the beneficial tax status for Deutsche Post, a TNT spokesman said.

“If this situation becomes reality we will reconsider our position, which could include leaving the country,” Bakker was quoted as saying by the spokesman.

Dutch Prime Minister Jan Peter Balkenende and Finance Minister Wouter Bos also received a copy of the letter as well as Junior Economy Minister Frank Heemskerk, who is responsible within the government for postal liberalisation.

Investors have closely followed the liberalisation process in the Netherlands as it affects the Dutch mail business, one of TNT’s most profitable units.

The Dutch parliament had approved the new postal law, which is due to end TNT’s remaining monopoly in the Netherlands from January 2008.

It includes a emergency procedure that allows the Economy Ministery to delay the liberalisation if other European countries and particularly Germany do not fully liberalise their markets at the same time.

A spokesman for the Economy Ministry said he had not seen Bakker’s letter yet and that the government was still aiming to introduce the new postal law on Jan. 1 next year.

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UPS Announces 2008 Rates

Posted by | Nov 9, 2007 | |

UPS announced new list rates for 2008, including an average 4.9 percent increase for UPS Ground and Ground Hundredweight shipments and a net average increase of 4.9 percent on all air express and U.S. origin International shipments.

The increase for air express and international shipments is based on a 6.9 percent increase in the base rate, less a 2 percent reduction in the current fuel surcharge. Updated rate and service information will be posted on ups.com/rates beginning Nov. 16, and customers can preview UPS Ground, Air and International express rates. On Dec. 31, customers can download the 2008 Rate and Service Guide.

The new rates will take effect on Dec. 31, 2007.

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UPS board names new Director

Posted by | Nov 8, 2007 | |

Rudy Markham, the recently retired Chief Financial Officer of Unilever, today was named to the Board of Directors of UPS.

Markham, 61, will serve on the Board until the next UPS annual shareowners’ meeting in May 2008, at which time he is expected to stand for election to a regular one-year term. After his appointment, Markham was named to the Audit Committee during a regularly scheduled Board meeting here.

In other business, the Board declared a regular quarterly dividend of USD 0.42 per share on all outstanding Class A and Class B shares. The dividend is payable Jan. 3, 2008, to shareholders of record on Nov. 19, 2007. UPS has either increased or maintained its dividend every year for more than three decades.

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Deutsche Post World Net: Business on track in 2007

Posted by | Nov 8, 2007 | |

Deutsche Post World Net completed the first nine months of the year according to plan. Once again, all divisions contributed to the 5.3 percent increase in revenue to 46.5 billion euros. At 2.5 billion euros, EBIT was slightly below last year’s level, which included non-recurring gains totaling 375 million euros. Excluding these non-recurring gains, the underlying EBIT rose about 10 percent. The strongest earnings growth was achieved by the LOGISTICS and EXPRESS divisions.

“The first nine months of the year were right on target,” Chairman and Chief Executive Officer Klaus Zumwinkel said at a press conference in Frankfurt. “We succeeded in our efforts to further increase the profitability of the EXPRESS business; and the LOGISTICS division has also made positive strides in terms of growth and new customers.” In addition to that, FINANCIAL SERVICES with Deutsche Postbank had a strong quarter and recorded a substantial increase in profit despite the turbulences in the financial markets.

All in all, Deutsche Post World Net now expects EBIT excluding non-recurring effects of around 3.7 billion euros for the full year of 2007, slightly more than the at least 3.6 billion euros forecast earlier. Therefore, the management board will propose to raise the dividend for 2007 by 20 percent to 90 cents per share from 75 cents per share.

As part of its capital markets program also presented today, Deutsche Post World Net plans to change the way it will report its business prospects in the future. Deutsche Post World Net will communicate specific earnings targets for the following year.For 2008, the Group expects EBIT to rise 14 percent to around 4.2 billion euros.

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Deutsche Post World Net presents capital markets program

Posted by | Nov 8, 2007 | |

Deutsche Post World Net today presented its “Roadmap to Value,” a far-reaching capital markets program to use the company’s excellent market position to generate more value for its shareholders. The program is aimed at making Deutsche Post World Net the most attractive investment in the logistics industry in addition to being the No. 1 choice for customers and employees.

The capital markets program “Roadmap to Value” is aimed at making the group the most attractive investment in the logistics industry.

With a comprehensive profit improvement program affecting all units and divisions, Deutsche Post World Net plans to generate 1 billion euros to underpin EBIT growth through 2009. In order to boost cash, the Group aims to reduce net working capital by 700 million euros and raise at least 1 billion euros in proceeds from the disposal of real-estate and other non-strategic assets over the next two years. The management board will also propose to raise the 2007 dividend by 20 percent to 90 cents per share compared with 75 cents per share for 2006. To help increase transparency, Deutsche Post World Net will unbundle its SERVICES division and in principle has committed itself to a stable reporting structure in the future.

In order to establish the value-based approach throughout the Group, Deutsche Post World Net will introduce a new performance metric. The metric, EBIT after Asset Charge, is aimed at motivating managers to generate more value from their day-to-day businesses. Chief Financial Officer John Allan: “The new metric will help us leverage our strengths and attack our weaknesses in order to raise returns for investors and to serve customers even better. We have highly motivated, best-in-class managers and employees around the globe and I am very confident that they are going to rise to this challenge.”

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