Tag: Worldwide

Deutsche Post 2007 Annual General Meeting

Posted by | May 8, 2007 | |

The Board of Management and Supervisory Board of DPWN are proposing a dividend of 75 cents for 2006, 7.1 percent more than a year earlier. That corresponds to a payout ratio of 47.1 percent. On average, the dividend has increased 19 percent annually since the Deutsche Post IPO. The company plans to further increase its payout ratio and continue its current dividend policy of sharing its excellent business performance with shareholders. The dividend is tax free for domestic shareholders.

For 2007, the Group reiterated its target to reach an EBIT of at least 3.6 billion euros. That means an increase of at least 3 percent based on the comparable year-ago figure, which included special items such as the exercise of the exchangeable bonds on Postbank shares as well as the related sale of Deutsche Postbank shares.

For its business division MAIL, the Group forecast stable to slightly higher revenue. The division expects that losses in its domestic mail business will be more than offset by the other business units. On an earnings level, the MAIL division expects a stable EBIT of about 2 billion euros. For the EXPRESS division, the Group expects an operating profit of at least 400 million euros for 2007. That includes one-time costs of 100 million euros tied to the new hub in Leipzig, Germany. Excluding these one-time costs, operating profit will amount to over 500 million euros, a more than 50 percent increase compared with the previous year. The LOGISTICS division is expected to raise EBIT by about 15 percent. For the FINANCIAL SERVICES division, the Group forecast an increase of at least 5 percent in EBIT, including one-time expenses of about 100 million euros.

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Changes in management at Deutsche Post World Net

Posted by | May 8, 2007 | |

Dr. Hans-Dieter Petram (64), the member of the Board of Management at Deutsche Post World Net responsible for the Mail division, will resign from his position as intended on June 30, 2007, and enter retirement. Jürgen Gerdes (42), the chairman of Mail Germany Divisional Board, has been appointed a new member of the Board of Management by the Supervisory Board. Beginning on July 1, 2007, he will assume responsibility for the Mail and parcel business in Germany. In the newly structured area of responsibility, Gerdes will focus solely on the challenges of Deutsche Post’s home market, concentrating in particular on liberalization of the Mail market and the increasing substitution of letters with electronic communications. As part of this new structure, Dr. Frank Appel (45), the Board of Management member for Global Business Services with extensive cross-departmental functions, will also assume responsibilities for the areas of Mail International and Mail value-added services. In addition, he will oversee the corporate department regulation management (director: Walter Maschke) that had been part of the responsibilities assigned to the Board of Management chairman.

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Frank Appel to replace Klaus Zumwinkel at Deutsche Post in 2008

Posted by | May 8, 2007 | |

Klaus Zumwinkel, CEO of German postal services group Deutsche Post AG, is likely to be replaced by Frank Appel, after Zumwinkel’s contract expires at the end of 2008, German daily Handelsblatt reported on May 8, 2007.

Frank Appel, who is currently responsible for the Global Corporate Services division, will also take over mail services outside Germany, Zumwinkel said at the company’s general shareholders’ meeting. Appel has worked closely together with Deutsche Post’s top management for almost seven years, and is expected to boost further the change in the regulatory and political fields, Zumwinkel added.

A spokesperson of Deutsche Post did not comment on speculations that Appel’s responsibilities would be extended further.

Appel, who used to be in charge of the important logistics division, will engage in political talks about the future of Deutsche Post’s mail services monopoly, which, according to current plans of the German government, has to be revoked at the end of 2007. The Social Democratic Party of Germany (SPD) has raised objections against the planned reform.

Juergen Gerdes, 42, will be in charge of mail services in Germany, Zumwinkel said. The mail communication services division has so far been managed by Hans-Dieter Petram, 64, who will retire as of June 30, 2007.

It remains unclear when Deutsche Post will lose its monopoly over letters weighing up to 50 grams in Germany. Vice Chancellor Franz Muentefering and the Minister of Finance, Peer Steinbrueck, have set as target date January 1, 2008. While debates in the German parliament are still going on, Zumwinkel has again raised demands for liberalisation of EU accords. According to the EU plans, the remaining monopolies in EU member states must be revoked in 2009.

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TNT announce higher revenues and higher operating income in 2007

Posted by | May 3, 2007 | |

The year started with a 9.1% increase in revenues and a 7.3% increase in operating income, with both divisions contributing positively to the revenue and operating income growth.
Express continued on the path of double-digit (+12.3%) revenue growth, with an operating margin of 8.0%, close to last year’s level of 8.3%, despite the effect of the recently acquired businesses. Excluding this effect, the margin would have increased to 8.6%.
Express revenue growth was 8.0% in Europe and 32.5% (37.6% at constant rates of exchange) in the Rest of World. The latter included a large (+25.9%) acquisition effect. Mercúrio in Brazil was acquired at the start of the quarter and the acquisition of Hoau in China was completed in March. Together these two businesses add over euro 300 million of annualised revenues to the group.
In Mail Netherlands, addressed mail volumes declined by 4.3%. A euro 14 million one-off gain on sale of real estate, positive price/mix effects and closely controlled costs helped the overall result. In EMN, organic revenue growth exceeded 25%, with continued growth in the UK and German addressed mail businesses. This was augmented by acquisition effects (+14.7%), particularly in the German regional service and mail consolidation.

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Deutsche Post rules out takeovers

Posted by | May 2, 2007 | |

Deutsche Post has announced that it intends to focus on organic growth and has ruled out investing in other postal service companies outside Germany. This counters reports that the company was interested in acquiring Israeli postal service company Israel Postal Company. It is also said that representatives for Japanese and Chinese postal services could be in discussion with Deutsche Post.

However, the integration of newly acquired business in the express business has been slower than expected. The impending liberalisation of the European postal market threatens to entail a drop in figures for Deutsche Post.

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