Annual Report 2012 pdf (5 MB) - Deutsche Post DHL

DeutsCHe Post sHares
Good year on the stock market
At the beginning of the year, a positive sentiment prevailed in the equity markets due
to the measures taken by the European Central Bank (ECB) to curb the sovereign debt
crisis in Europe. The DAX also benefited from the comparatively positive performance
of the German economy. However, over the course of the first half of the year, concerns
over an economic crisis in Southern Europe rose and the global economy grew at a
slower pace. This sent the international stock markets on a decline. The EURO STOXX 50
and DAX each hit their annual low in June at 2,069 and 5,969 points, respectively. At the
beginning of the second half of the year, the ECB announced additional measures and
the German Federal Constitutional Court ruled in favour of the permanent euro rescue
fund. Stock markets displayed renewed optimism and made considerable gains by the
end of the year. The DAX reached its annual high of 7,672 points on 20 December 2012
– its highest level since January 2008. It ended the year at 7,612 points – a 29.1 % gain.
The EURO STOXX 50 was up 13.8 % year-on-year. The Dow Jones closed 2012 with a gain
of 7.3 % on account of the slight recovery in the US economy.
A.11 Deutsche Post shares: multi-year review
2006 2007 2008 2009 2010 2011 2012
Year-end closing price € 22.84 23.51 11.91 13.49 12.70 11.88 16.60
High € 23.75 25.65 24.18 13.79 14.46 13.83 16.66
low € 18.55 19.95 7.18 6.65 11.18 9.13 11.88
number of shares millions 1,204.0 1 1,208.2 1 1,209.0 1 1,209.0 1,209.0 1,209.0 1,209.0
Market capitalisation as at 31 December € m 27,461 28,388 14,399 16,309 15,354 14,363 20,069
average trading volume per day shares 5,287,529 6,907,270 7,738,509 5,446,920 5,329,779 4,898,924 4,052,323
annual performance including dividends % 14.9 6.9 – 45.5 18.3 –1.4 –1.3 45.6
annual performance excluding dividends % 11.5 2.9 – 49.3 13.3 – 5.9 – 6.5 39.7
beta factor ² 0.80 0.68 0.81 0.91 0.95 1.19 0.88
earnings per share 3 € 1.60 1.15 –1.40 0.53 2.10 0.96 1.37
Cash flow per share 4 € 3.28 4.27 1.60 – 0.48 1.59 1.96 – 0.17
Price-to-earnings ratio 5 14.3 20.4 – 8.5 25.5 6.0 12.4 12.1
Price-to-cash flow ratio 4, 6 7.0 5.5 7.4 –28.1 8.0 6.1 – 98.9
Dividend € m 903 1,087 725 725 786 846 846 7
Payout ratio % 47.1 78.6 – 112.6 30.9 72.7 51.0 8
Dividend per share € 0.75 0.90 0.60 0.60 0.65 0.70 0.70 7
Dividend yield % 3.3 3.8 5.0 4.4 5.1 5.9 4.2
1 increase due to exercise of stock options note 36.
2 beta three years; source: bloomberg.
3 based on consolidated net profit after deduction of non-controlling interests note 21.
4 Cash flow from operating activities.
5 Year-end closing price / earnings per share.
6 Year-end closing price / cash flow per share.
7 Proposal.
8 excluding extraordinary effects (Postbank, additional VAT payment, reversal of provisions: 53.3 %).
Deutsche Post DHL Annual Report 2012
Group Management Report
Deutsche Post Shares
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