DHL 1998 Annual Report Download - page 74

Download and view the complete annual report

Please find page 74 of the 1998 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 93

  • 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

I. General Information
(1) Legal foundation
Deutsche Post was formed on 1 January 1995. Under section 2 of the
Post Transformation Act it is the legal successor to Deutsche Bundespost
POSTDIENST, which was part of a Federal asset.
The consolidated financial statements of Deutsche Post AG have been pre-
pared in accordance with the accounting rules of the German Commercial
Code (sections 290ff). Where captions have been combined in the balance
sheet or in the profit and loss account, details are given in the notes.
The comparative figures given in ( ) are those of the financial statements
for the year ended on 31 December 1997.
(2) The consolidated group
The consolidated statements include the individual company financial
statements of the parent company Deutsche Post AG, as well as all domes-
tic and foreign companies with business activities in which Deutsche Post
AG directly or indirectly has majority voting rights. The consolidated
group comprises Deutsche Post AG as the parent company and 34 domes-
tic and 10 foreign companies. 10 companies were included for the first time.
Final consolidation was effected for two companies. 15 companies were
not included due to their lack of economic activities and their being not
material to the results of the Deutsche Post group respectively. This was in
accordance with section 296 (2) of the Commercial Code. 10 companies
were not included in accordance with section 296 (1) of the Commercial
Code, because they had not been acquired before the end of the 1998
business year.
Three domestic and two foreign associated companies were accounted for
using the equity method. One company was finally included. In compliance
with section 311 (2) of the Commercial Code, seven companies were not
accounted for using the equity method, due to their lack of business
activities and their being not material to the results of the Deutsche Post
group respectively. A full list of associated companies and participations
is filed with the Commercial registry of the Bonn District Court.
Notes
to the Consolidated Financial
Statements of Deutsche Post AG
as of 31 December 1998
70
Group Annex