DHL 2002 Annual Report Download - page 26

Download and view the complete annual report

Please find page 26 of the 2002 DHL annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 161

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161

Overview
Progress based on core strengths outweighs adverse external decisions
In fiscal year 2002, Deutsche Post World Net leveraged its core strengths and thus
made significant progress towards becoming the No. 1 logistics service provider
worldwide. The complete takeover of DHL International Limited (DHL) marked a
central milestone in our corporate strategy. Thanks to this acquisition, we can now
reorganize our structures from the ground up.
We are doing this reorganization within the framework of our value creation
program, STAR, which we announced at the end of October 2002. Under STAR,
we are identifying the Group’s value reserves and developing concrete measures to
increase them. Our main focus is on integrating our global networks. To this end,
we will merge all European activities in the EXPRESS and LOGISTICS Corporate
Divisions under the umbrella of the DHL brand in 2003. The goal is to combine the
previously independent networks of DHL, Deutsche Post Euro Express and Danzas
(overland transport and express) to create an efficient, high-performance transport
and delivery system.
In the MAIL segment, we are systematically positioning ourselves to take advantage
of the increasing deregulation of postal services in Europe: we expanded our mail
activities in the Netherlands and were awarded a license for the British mail market in
the year under review.
Postbank reinforced its strong position in the German retail banking sector and,
at the same time, expanded its service offering for corporate customers.
Three external decisions adversely affected our operating environment in the
year under review:
Firstly, the European Commission ruled in the state aid proceedings that
Deutsche Post must repay the Federal Republic of Germany state aid of €572 million
plus interest (total amount: €907 million). Although we immediately filed an appeal
against this ruling, we were required to repay this amount at the beginning of 2003.
25
Management Report
Overview