Corporate | 15 May 2007 07:30
Deutsche Post AG / Quarter Results
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Deutsche Post World Net off to a good start in 2007
• Consolidated revenue climbs to 15.5 billion euros in first quarter
• EBIT rises 8.7 percent
• International revenue now accounts for about 60 percent of total
• EXPRESS earnings significantly better
Bonn, May 15, 2007: Deutsche Post World Net increased EBIT by 8.7 percent
to 998 million euros in the first quarter of 2007, giving the company a
good start in the new year. Revenue rose 4.4 percent to 15.5 billion euros.
Consolidated net profit after minorities also climbed 4 percent to 499
million euros, and earnings per share were 41 euro cents compared with 40
cents in the same period last year. 'The first quarter confirmed the
positive trends of the preceding quarters,' said Prof. Edgar Ernst, the
Group’s chief financial officer. 'We attained growth in our international
mail activities and substantial earnings improvements in the express
business.' The Group reiterated its forecast for an overall positive
business development with an EBIT excluding non-recurring effects totaling
at least 3.6 billion euros in 2007.
MAIL division
In the first quarter, the MAIL division raised revenue by 2.9 percent to
3.93 billion euros. As it has done in previous quarters, the division more
than offset anticipated revenue losses in the domestic mail market through
gains in its international activities. One key reason for this growth was
the inclusion of Williams Lea from April 1, 2006. EBIT in the Mail division
fell 10.8 percent to 618 million euros. This drop primarily resulted from
the loss of 0.7 work days and the steep cut in parcel prices last year.
EXPRESS division
During the first three months of the year, revenue at the EXPRESS division
rose with 0.9 percent slightly to 3.33 billion euros, held back by currency
effects totaling 150 million euros. In local currencies, the EXPRESS
division grew organically by 6.5 percent. This growth was generated
primarily by the high-yielding international express business. Particularly
Europe as well as the Asia-Pacific and EEMEA regions recorded strong growth
rates. In the Americas region, revenue in local currencies gained 3.2
percent, with high growth rates in the domestic business in Latin America.
In euro terms, revenue in the region declined 5.6 percent to 1.05 billion
euros. EBIT for the entire EXPRESS division was 62 million euros, compared
with a loss of 58 million euros in the same period last year.
LOGISTICS division
The LOGISTICS division boosted revenue by 6.1 percent to 6.22 billion euros
in the first quarter. In addition to negative exchange-rate effects of 174
million euros, the sale of various smaller companies reduced revenue by 32
million euros. Purely organically, revenue climbed 9.6 percent. The DHL
Global Forwarding business unit recorded revenue of 2.19 billion euros, 1.5
percent less than in the same period last year. The drop was due to
currency effects and lower freight rates in some regions. At DHL Exel
Supply Chain revenue climbed significantly, jumping 12 percent to 3.19
billion euros. The 10-year contract with the British health-care service
NHS contributed considerably to the increase. The DHL Freight business unit
increased first-quarter revenue 0.7 percent to 917 million euros. During
the reporting period, EBIT in the LOGISTICS division totaled 214 million
euros compared with 157 million euros in the year-ago period. The 36
percent increase was largely attributable to the sale of the waste disposal
company Vfw AG, which led to a non-recurring income of 59 million euros.
Taking higher integration costs than a year earlier into account, the
business development met the Group's expectations.
FINANCIAL SERVICES division
The FINANCIAL SERVICES division, which is primarily composed of Deutsche
Postbank, raised revenue by 5.2 percent to 2.48 billion euros in the first
quarter. EBIT climbed 10 percent to 242 million euros. Deutsche Postbank
reported its detailed results separately on May 14.
SERVICES division
The SERVICES division combines the areas of Global Business Services,
Corporate Center and the retail outlets of Deutsche Post. In addition,
non-operating income and expenses of Deutsche Post AG are bundled within
the division. In the SERIVCES division, EBIT was minus 134 million euros
compared with minus 94 million euros in the same period last year. The
primary reasons for the decrease were non-recurring effects stemming from
the arbitration proceedings with Deutsche Telekom and the disposal of
McPaper AG in the first quarter of 2006.
Outlook
For the entire year of 2007, the Group still expects EBIT excluding
non-recurring effects of at least 3.6 billion euros.
For the MAIL division, the Group expects revenue to be stable or slightly
higher. It continues to believe that the revenue losses experienced in the
domestic mail market will be more than offset by the other business units.
EBIT is forecast to remain stable at about 2 billion euros. In the EXPRESS
division, the Group expects full-year EBIT to reach at least 400 million
euros, including costs related to the new Leipzig/Halle air hub. In the
LOGISTICS division, the Group forecasts EBIT will climb about 15 percent.
The forecast doesn't include the sale of Vfw. At FINANCIAL SERVICES, EBIT
is expected to rise at least 5 percent. At the SERVICES division, the Group
still expects EBIT of minus 700 million euros.
Note:
The complete quarterly report is available at
http://investors.dpwn.de/de/index.htm.
Beginning at 8 a.m., you will find an interview with the Group’s CFO, Prof.
Edgar Ernst, (text and audio) at www.dpwn.de.
Contact for media queries:
Deutsche Post World Net
Press Office
Prof. Manfred Harnischfeger
Dr. Martin Dopychai
Nicole Mommsen
Tel.: 0228/182 99 44
E-mail: pressestelle@deutschepost.de
DGAP 15.05.2007
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Language: English
Issuer: Deutsche Post AG
Charles-de-Gaulle-Straße 20
53113 Bonn Deutschland
Phone: +49 (0)228 182 - 63 100
Fax: +49 (0)228 182 - 63 199
E-mail: ir@deutschepost.de
www: www.dpwn.de
ISIN: DE0005552004
WKN: 555200
Indices: DAX
Listed: Amtlicher Markt in Berlin-Bremen, Frankfurt (Prime Standard),
Hannover, Düsseldorf, Hamburg, München, Stuttgart;
Terminbörse EUREX
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