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Group Management Report – Internationalization and Growth Deutsche Post World Net performed in line with our expectations in both corporate and business terms in 1999. During the year, Deutsche Post World Net took important steps toward becoming one of the world's largest integrated international companies for logistics services, while clearly maintaining its leading market positions in the traditional business segments for national express and letter mail business. 12 Management Report 13
Management Report 1999 Overview Figures in EUR mill. Revenue Net profit The acquisitions of Danzas, Nedlloyd ETD, ASG and Postbank expanded the range of global logistics services and financial services we are able to offer our customers. Numerous other acquisitions – which included foreign express and letter mail service providers – laid the foundation for the internationalization of these business segments. This realignment led to a substantial increase and shift in revenue. At the same time, our traditional business segments were also able to achieve significant revenue growth – by considerable amounts in some cases. As a result, our profit after tax this year grew to EUR 1.1 billion, an increase of 20.8 percent over 1998. Our systematic expansion of new growth segments is founded on our rigorous and successful restructuring of all the traditional corporate divisions which existed when Germany’s “new post office” first began operation in 1995. Together, these two components comprise the basis for our business success and provide the ideal conditions for a future-oriented, increasingly global Deutsche Post World Net Group. 1. The overall economic environment in 1999 Deutsche Post World Net was able to raise its sales and revenue levels last year despite a lack of momentum in Germany's economy. Compared to the previous year, Germany's gross domestic product grew by only 1.5 percent in real terms in 1999, noticeably less than the 2.2 percent growth posted in 1998. 14 1999 1998 22,363 14,669 1,117 925 The business service, financing and leasing industries reported the fastest growth last year with a 3.6-percent real increase. This development was favorable for Deutsche Post World Net because these sectors are significant users of postal services. By contrast, private consumer spending generated little impetus. At 2.1 percent, growth in consumer spending was subdued once again last year, and even undercut the 2.3 percent growth reported in 1998. Visible trade – an important factor in generating cross-border mail to and from Germany – grew at lower levels than in 1998. Due to the long-term effects of the economic crises in East Asia and other emerging markets, Germany’s export trade grew by 4.2 percent in 1999, compared to 7.0 percent in 1998. At 7.1 percent, import trade also recorded lower growth in 1999 than in the previous year when the sector posted an 8.5-percent growth rate. In the face of these developments, our Group’s internationalization strategy is of increasing importance. Growth has been stronger in other economically important countries in the EU than in Germany. Further, cross-border trade is growing at a considerably faster pace than domestic economic output. Global trade grew at nearly twice the rate that global production did in the 1990s. As globalization progresses, the division of specialization between countries will increase and, with it, the magnitude of global trade. Internet trade – also widely known as e-Commerce – is a primary driving force behind these trends.According to a study by the International Gardner Group, Internetrelated business in Europe reached a magnitude of some EUR 15 billion in 1999. This study also indicates that the volume of e-Commerce conducted in Europe will grow to at least EUR 180 billion by the year 2002. The e-Commerce field is opening up enormous opportunities, in particular for Deutsche Post’s cross-border distribution and logistics networks.
Page 1 and 2: Annual Report Deutsche Post World N
Page 3 and 4: Brand Levels and Business Segments
Page 5 and 6: Corporate Structure 2 Foreword by D
Page 7 and 8: 4 Dr. Klaus Zumwinkel Chairman of t
Page 9 and 10: Deutsche Post World Net’s MAIL co
Page 11 and 12: E-Commerce: Market of the future -
Page 13: Walter Scheurle Personnel The Board
Page 17 and 18: At the same time, the increasing in
Page 19 and 20: All in all, market liberalization a
Page 21 and 22: We believe that the combination of
Page 23 and 24: • Quality parameters: 12,000 reta
Page 25 and 26: Further, we are in a position to ro
Page 27 and 28: In 1998 just 2.1 percent of all sal
Page 29 and 30: MAIL The MAIL corporate division is
Page 31 and 32: Intercontinental business segment d
Page 33 and 34: 8. Group development / Objectives f
Page 35 and 36: Milestones and Visions The 1999 fin
Page 37 and 38: Integration Policy - Combining prog
Page 39 and 40: • The second phase takes two to f
Page 41 and 42: FINANCIAL SERVICES - Strengthening
Page 43 and 44: 46 Dr. Hans-Dieter Petram MAIL Born
Page 45 and 46: External revenue generated by the M
Page 47 and 48: “Speed marketing”, the top perf
Page 49 and 50: Sales - Enhanced customer care and
Page 51 and 52: Express - Meeting customer needs at
Page 53 and 54: Growth opportunities through global
Page 55 and 56: Express Germany - Firmly establishe
Page 57 and 58: Production capacity expanded Many o
Page 59: Corporate Division Express Deutsche
Page 62 and 63: Logistics - Precision worldwide By
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The entire logistics spectrum Our n
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e transported by road, by rail or b
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Intercontinental - No.1 worldwide W
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An important strategic objective in
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80 Prof. Dr. Wulf von Schimmelmann
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Postbank will take the role of fron
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Strong growth in home loans and sav
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over the phone and the Internet, ou
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90 Walter Scheurle Personnel Born 1
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Training for growing competition A
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Downsizing our structural organizat
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98 Dr. Edgar Ernst Finance Born 195
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Consolidated Balance Sheet as of De
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Consolidated Cash Flow Statement Fo
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Notes to the Consolidated Financial
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Notes to the Consolidated Financial
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Notes In compliance with IAS 21, in
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Notes (6) Segment Reporting Primary
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Notes to the Segment Reporting Note
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Notes to the Consolidated Income St
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Notes to the Consolidated Income St
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Notes to the Consolidated Balance S
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Other Notes (39) Financial instrume
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Other Notes EUR mill. Interest-rate
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Other Notes acquisition in an activ
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Other Notes In November 1999, Deuts
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Company Organs Members of the Board
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Auditor’s Report We have audited
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149
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Deutsche Post AG Headquarters Corpo
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