DHL 2015 Annual Report Download - page 54

Deutsche Post  Group —  Annual Report
REPORT ON ECONOMIC POSITION
Overall Board of Management assessment
ofthe economicposition
Earnings within expectations in a year of transition
Deutsche Post  Group increased revenue in nancial year  by . billion, due
to positive currency eects. e German parcel business in the Post - eCommerce-
Parcel (PeP) division and the international business in the Express division continued
to generate dynamic growth. Earnings were impacted adversely by losses in the Global
Forwarding, Freight division resulting from the re-orientation of its transformation
process and by restructuring costs in the Supply Chain division. Earnings in the PeP
div ision also suered from the eects of the strike in Germany. By contrast, free cash
ow performed well, posting a signicant increase. From the perspective of the Board
of Manage ment, this testies to the sound nancial position of the Group.
Forecast / actual comparison
Forecast / actual comparison .
Targets 

• Group: at least . billion
1.
• PeP division: at least . billion
1.
•  divisions: at least . billion
1.
• Corporate Center / Other:
around–. billion.

Will develop in line with 
1.
Cash flow
Free cash flow to cover at least dividend
payment of , million in May .
Capital expenditure (capex)
Increase investments to around
. billion.
Dividend distribution
Pay out   to   of the net profit
asdividend.
Employee Opinion Survey
Increase approval rating of keyperform-
ance indicator Active Leadership to  .
Greenhouse gas eciency
Introduce carbon eciency index  in
thecompany as a non-financial indicator
relevant for internal management.
Results 

• Group: . billion.
• PeP division: . billion.
•  divisions: . billion.
• Corporate Center / Other:
–. billion.

Developed in line with  and decreased.
Cash flow
At , million free cash flow significantly
exceeded dividend payment.
Capital expenditure (capex)
Invested: . billion.
Dividend distribution
Proposal: pay out .  of the adjusted
2
net profit asdividend.
Employee Opinion Survey
Key performance indicator ActiveLeader-
ship achieves an approval rating of  .
Greenhouse gas eciency
 improved to  index points (previous
year: ).
Targets 

• Group: . billion to . billion.
• PeP division: more than . billion.
•  divisions: . billion to . billion.
• Corporate Center / Other:
–. billion.

Will develop in line with  and increase
substantially.
Cash flow
Free cash flow to more than cover
dividend payment in May .
Capital expenditure (capex)
Increase investments to around
. billion.
Dividend distribution
Pay out   to   of the net profit
asdividend.
Employee Opinion Survey
3
Increase approval rating of keyperform-
ance indicator Active Leadership by a
percentage point.
Greenhouse gas eciency
 will increase by one index point.
1 Forecast decreased over the course of the year. 2  and strike-related effects, disposals of equity investments and other one-off effects, some of which are based upon assumptions
by management. 3 Questionnaire changed compared with the previous year, different initial value page .
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