DHL 2000 Annual Report Download - page 118

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Capital reserve
The development of the capital reserve during fiscal
year 2000 is shown in the table below:
Deutsche Post AG acquired 19,317,073 own shares at
the offering price net of an early subscription discount
of €0.50 per share in order to provide the shares with-
in the scope of the employee participation program;
17,267,093 shares with a market value of €20.50 were
issued to employees by the balance sheet date.This
equals 1.5% of the share capital. The shares still held
in the portfolio at the balance sheet date (2,049,980
shares totaling €42 m) were offset as own shares against
the capital reserve pursuant to SIC 16.
Retained earnings
Retained earnings accounts contain the profits gener-
ated in the past by the companies included in the con-
solidated annual financial statements, to the extent
that such profits were not paid out as dividends.Re-
tained earnings relate primarily to undistributed prof-
its from fiscal year 1999 in the amount of €845 mil-
lion, changes arising from initial consolidation of the
Deutsche Postbank AG Special Purpose Fund in the
amount of €181 million which do not impact profits,
and differences arising from currency conversions in
the amount of €26 million.
Regarding the development of reserves in the fiscal year,
see the Statement of Equity Movements on page 83.
(32) Net profit for the period
Net profit for fiscal year 2000 amount to €1,512 million.
Net profit reported in the previous year’s consolidated
financial statements were €1,112 million. Due to ad-
justments pursuant to IAS 22 (revised 1998) net profit
declined by €88 million to €1,024 million. For more
detail reference is made to notes 6 and 7.
Dividends
In accordance with the German Commercial Code,
the dividend to Deutsche Post AG shareholders is based
on the net profit for the year of Deutsche Post AG.
The Board of Management of Deutsche Post AG pro-
poses that the Deutsche Post AG’s net profit for the
year be used for the payment of a dividend in the
amount of €0.27 per no-par-value share.The amount
of €1,158 million remaining following deduction of
the dividend total of €300 million should be carried
forward to the new accounting period in the consoli-
dated financial statements.
(33) M inority interest
Minority interest include off-setting positions for shares
held by outside shareholders in the consolidated capital
from the capital consolidation and the profits and losses
allocated to them.These items related primarily to the
following companies:
(34) Provisions for retirement benefits and
similar obligations
Starting from the beginning of fiscal year 1999, the
provisions for retirement benefits and similar obliga-
tions developed as follows in the fiscal year 2000:
110
19992000
Deutsche Postbank group 64 36
Merkur Direktwerbegesellschaft mbH 5 5
Danzas group 4 6
Other companies 6 9
79 56
2000
Capital reserve as at January 1, 2000 376
Treasury share – 42
Withdrawal to increase issued capital –19
Offsetting expenses ESOP –19
Capital reserve as at December 31, 2000 296
in € millions
in € millions