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  
Dr Frank Appel
Chief Executive Officer
Deutsche Post AG
 March , financial year 
In Chinese culture, red is the colour of wealth and good luck. So by tradition, red
envelopes contain happy news, New Year’s wishes and small gi s.
Last summer I too came back from China – a country in which we have been operating
with our  business for more than  years – with many favourable impressions.
During my several-week stay there, I was impressed with the dynamic of the country
and the energy and initiative shown by its people. China is a good example of the great
potential that emerging markets o er a logistics company such as ours.
anks to our presence in the worlds growth markets, the  divisions performed
particularly dynamically in  nancial year  and played a key role in increasing
our consolidated revenue by .  to . billion. In the  division, revenues were
up again signi cantly in the parcel business, which helped to compensate for slight
volume declines in the mail business. Consolidated  improved by nearly   to
. billion. In the fourth quarter, growth was even more pronounced.
e fact that external factors had a negative impact on our business makes this per-
formance all the more satisfying. During the year, our liquidity situation su ered from
two signi cant one-time charges from an additional  payment and a demand by
the European Commission for repayment of state aid. Furthermore, the global economy
grew only slightly and economic output in the euro zone even saw a decline.
Given these developments, at the Annual General Meeting we shall propose that a
dividend per share of . be paid to you as in the previous year.  e distribution
ratio of .  re ects our dividend policy of paying out   to   of adjusted net
pro t as dividends as a general rule.
I am very pleased to see that the progress we made in  is now evident in the
perform ance of our share price. Our shares performed much better than the  for
the second year in a row and, with an annual yield of . , are amongst the top ten
on the index.