Tag: USA

UPS plans more international acquisitions

Posted by | Nov 9, 2006 | |

UPS will continue to buy express and parcel companies around the world to expand its highly profitable international business, according to senior executives. At the same time, it aims to grow its air freight and supply chain logistics activities to penetrate its large customer base more deeply.

“We will make acquisitions as we see fit around the world,” CEO Mike Eskew told the company’s November 8 Investor Day conference. Chief Financial Officer Scott Davis added that UPS saw “ acquisition opportunities” in the global small package business but stressed the company would be careful in selecting these takeovers.

Davis pointed out that UPS aimed for International to grow to 33% of operating profits by 2010 compared to 24% in 2006, with supply chain doubling to 7% and domestic operating profits dropping from 73% to 60% of overall operating income. UPS aimed to maintain or extend its international profit margins and maximise international operating profits, he added.

David Abney, head of UPS’s international business, said in a presentation that Europe now generated about 50% of UPS’ international revenues, ahead of 30% for the Americas (including US exports) and 20% for Asia. In Europe, UPS aimed to grow organically and through selective acquisitions, while deepening customer relationships and differentiating products in core markets such as Germany and the UK.

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Postbank grows further. Profit before tax rises 18.6 percent in the first nine months

Posted by | Nov 7, 2006 | |

Deutsche Postbank AG grew further in the first nine months. Compared with the first three quarters of 2005, its pre-tax profit climbed 18.6 percent to EUR 651 million (the comparable data for the first three quarters of 2005 are pro forma data in which BHW and the branches are included arithmetically). After adjustment for special effects, especially as a result of the integration, operating profit before tax increased in the first nine months by 31.1 percent year-on-year to EUR 720 million. The cost/income ratio improved from 75.2 percent to 70.1 percent. In the traditional banking business, i.e. excluding Transaction Banking, the ratio fell more sharply still from 74.0 percent to 68.6 percent. Return on equity before tax rose from 14.9 percent to 17.3 percent.

Total income improved further by 5.5 percent to EUR 3.0 billion. Balance-sheet related revenues – in other words the total of net interest income, net income from investment securities and net trading income – jumped 8.0 percent to EUR 2.0 billion. The growth driver here remained the net interest income which picked up pace again when compared over nine months. Supported by the expanded volume of customer loans, it increased by 9.1 percent to EUR 1.6 billion. Net income from investment securities rose by 2.2 percent to EUR 183 million and net trading income by 4.6 percent to EUR 181 million.

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FedEx drops Airbus order and goes with Boeing

Posted by | Nov 7, 2006 | |

FedEx Express, which is based in Memphis, Tenn., canceled its order for 10 Airbus A380 superjumbo jets and went with 15 Boeing 777 long-range aircraft.

The FedEx Corp. Tuesday said in a statement that “significant delays” in the A380 deliveries prompted the shift to the U.S. aeronautics giant.

Besides ordering 15 airborne freighters, each of which carries a list price of around USD236 million, FedEx also obtained an option for another 15 Boeing 777 aircraft.

“The availability and delivery timing of this aircraft, coupled with its attractive payload range and economics, make this choice the best decision for FedEx, its customers, shareowners and employees,” said FedEx Chief Executive Frederick Smith.

FedEx Express continues to be Airbus’ largest wide-body airplane customer and will add new and used Airbus wide-body aircraft to its fleet. Six new A300-600 aircraft are scheduled to join the FedEx fleet in 2007.

The 777 is the world’s largest twin-engine cargo aircraft with a range of more than 6,100 nautical miles and a revenue payload capacity of 171,000 pounds. FedEx expects to take delivery of four of the 777 aircraft in calendar year 2009, eight in 2010 and the remaining three in 2011.

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UPS prepared for surge in holiday package shipping

Posted by | Nov 6, 2006 | |

UPS’s long-standing role as Santa’s busiest helper will continue this holiday season with projected package volume swelling from roughly 15 million packages a day to more than 21 million on the busiest day.

On UPS’s Peak Day, which will occur this year on Wednesday, Dec. 20, UPS will deliver 240 packages every second through its worldwide ground and air network. Just two days later on Dec. 22, UPS will handle its largest volume of air shipments for the year by delivering roughly 5.6 million packages. That amounts to more than double the normal average for air volume.This year, UPS and various retail analysts are predicting strong growth in the online shopping world along with solid gains in the brick-and-mortar arena. UPS enters the holiday peak – defined as the period between Thanksgiving and Christmas – as the primary shipper for 21 of the top 25 e-retailers as ranked by Internet Retailer Magazine.

In the process of delivering all those holiday packages, UPS will apply its tracking technology to make it easy for customers to monitor the movement of their gifts. UPS expects more than 130 million online tracking requests during Peak Week and the daily total could exceed 25 million on Peak Day.

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Deutsche Post CEO reiterates 2009 breakeven for US Express operations

Posted by | Nov 6, 2006 | |

Deutsche Post World Net AG chief executive Klaus Zumwinkel reiterated its forecast that the company’s Express business in the US would break even in 2009.

Speaking to reporters, Zumwinkel said the EBIT of the US Express business would certainly improve in the second-half of the year, with a ‘three digit million’ eur positive impact on earnings for the period.

He said DHL currently has around a 10 pct market share in the US. ‘If we get a 12 pct market share, then we will be happy,’ he added.

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