DHL 1999 Annual Report Download - page 130

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Following complaints filed by two competitors of Deut-
sche Post AG, in accordance with Article 88 (2) EC
Treaty,the European Commission has initiated proceed-
ings against the Federal Republic of Germany.The com-
petitors allege that Deutsche Post AG received a consid-
erable amount of unlawful state subsidies from the
Federal Republic of Germany. The European Commis-
sion subsequently informed the Federal Government
that in accordance with Article 14 of the Regulation
(EC) No.659/1999 of the Council,all unlawful subsidies
must be claimed back.
In a comprehensive statement addressed to the Euro-
pean Commission, the Federal Government refuted the
allegations made and demonstrated why no unlawful
subsidies had been paid. Deutsche Post AG expects the
case to be closed upon the conclusion that no unlawful
subsidies have been paid and that there is no obligation
to return any payments. A decision by the European
Commission is expected by the summer of 2000.
(41) Other financial obligations
In addition to the provisions, liabilities and contingent
liabilities, on 12.31.1999 there exist other financial obli-
gations amounting to EUR 3,950 million (1998: EUR
962 million),exclusively vis-à-vis third parties.They pri-
marily consist of future payments arising from long-
term haulage contracts and lease agreements as well as
purchase contracts for non-current assets.
According to IAS 17 (Leases), lease agreements are oper-
ating leases. The due dates of the cumulative minimum
lease payments, which amount to a total of EUR 689
million (1998: EUR 250 million) and which result from
these agreements as unavoidable financial obligations,
are structured as follows:
The expected income from minimum lease payments
from sub-letting leasing properties amount to EUR 1
million (1998: EUR 0 million).
(42) Significant events following the balance
sheet date
With effect from January 1, 2000, Deutsche Postbank
AG,as a subsidiary of Deutsche Post AG,has taken over
DSL Bank, previously transformed from an institution
under public law to an AG. DSL Bank AG is viewed as
an expert for private and commercial building finance
as well as for the issue of marketable securities. It com-
plements and strengthens the product and service range
of Deutsche Postbank AG, which is mainly active in the
retail segment.
Notes
141
Minimum lease payments
for the period
up to 1 year
betw een 1 year and 5 years
more than 5 years
1999 1998
315 216
253 32
121 2
689 250
EUR mill.