DHL 2000 Annual Report Download - page 135

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According to the complaint pending at the European
Court of Justice against Deutsche Post AG in respect of
the investment in DHL International,the investment
was allegedly financed from funds from the reserved
area.The commission has applied for dismissal of the
action since it does not regard the financing of this
investment as a violation of Community Law.A final
decision may possibly be made in 2001.
(43) Other financial obligations
In addition to the provisions,liabilities and contingent
liabilities,other financial obligations amounting to
€1,571million (1999:€3,950 m) were owed exclusively
to third parties as at December 31, 2000. These oblig-
ations consist primarily of future payments arising from
long-term transportation contracts and lease agree-
ments,as well as purchase contracts for non-current
assets.
As defined in IAS 17,lease agreements also include, in
addition to the finance leasing already mentioned
under note 37,operating leases.The latter largely con-
cerns rental agreements.In all, the cumulative mini-
mum lease payments under these agreements amount
to €323 million (1999:€689 m).
The maturity structure of these future payments
obligations is as follows:
The expected income from sub-leased properties
amounts to €4 million (1999: €1m).
Within the framework of a strategic partnership,the
IT infrastructure at Deutsche Post AG was transferred
to Deutsche Telekom AG on the basis of a sale and
leaseback transaction as at July 1, 2000. The amount
of future minimum lease payments is currently being
negotiated between Deutsche Post AG and Deutsche
Telekom AG.In the past financial year,down payments
totaling €76 million were made for networking oper-
ations and relating to field services.
(44) Significant events after the balance sheet
date
Deutsche Post World Net acquired a further 21.38 per-
cent of the shares in DHL International,Bermuda at
the beginning of 2001.Together with the shares held
to date,Deutsche Post World Net now holds 46,382%
of the shares in this international express mail service
provider.At the beginning of 2001, Deutsche Post
World Net’s corporate rights in DHL were consolidat-
ed in Aerologic GmbH,a company founded jointly by
Deutsche Post World Net and Deutsche Lufthansa AG.
127
Notes
Due within 1 year 69 315
Due after 1 year through 5 years 166 253
Due after 5 years 88 121
323 689
19 9 92000
in € millions