EBIT loss in 2008 with Deutsche Post
Given the unprecedented decline in volumes and the unpredictable economic outlook, the management board of Deutsche Post World Net will refrain from giving a firm outlook for 2009. „The sharp reductions in demand experienced in the fourth quarter became stronger in the first quarter of 2009, and impacted on all regions and most industry sectors. We expect that this level of volume decline will continue throughout the first half of the year if not longer,“ CEO Frank Appel said about the unusual proceedings. And, at the presentation of the figures for the financial year 2008 he declared: “Our focus now will be on costs and cash generation to help us through the difficult times ahead. „In the financial year 2008 Deutsche Post World Net reported an EBIT loss of EUR 567 million due to high restructuring costs in the United States. Earning before interest and tax excluding non-recurring effects of EUR 2.41 billion met the operative targets. In total the Group reported a net loss of EUR 1.69 billion. Full-year revenue gained 0.8 per cent to EUR 54.47 billion. One of the bright spots for 2008 was the Global Forwarding/Freight division. The revenue of this division amounted to EUR 14.2 billion (+ 9.2%) while the reported EBIT amounted to EUR 389 million. Global Forwarding revenues gained 12.5 per cent to EUR 10.6 billion. Airfreight revenue also rose 12 per cent; seafreight revenue increased 13.4 per cent. Revenue at the SUPPLY CHAIN/CIS division amounted to EUR 13.7 billion (minus 4.2%) and posted a loss of EUR 675 million before interest and taxes due to restructuring costs, charges to write down the Exel brand and value adjustments. Quelle: Österreichische Verkehrszeitung |