DHL 2000 Annual Report Download - page 30

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22
Mail business division were also very favorable.Express Europe,essentially
focused over the financial year on the cost of integrating the newly acquired
companies,was not able as yet to make a significant contribution to profits.
The LOGISTICS corporate division improved its EBITA greatly compared
with the previous year,moving from €-27 million by €140 million to
€113 million. This is due to the new acquisitions that were made in 2000,
synergies achieved, several restructuring measures and the general expan-
sion of activities.
FINANCIAL SERVICES’contribution to EBITA increased primarily as a
result of the inclusion of DSL Bank and the first-time application of IAS
for the recognition of special funds (see Note 7 to Consolidated Financial
Statements).Postbank has also expanded its product range for private and
business customers.
Amortization of goodwill totaling €144 million had a subduing effect on
profits.Compared with the previous year,therefore,depreciation and amor-
tization increased by €74 million. These amounts reflect the acquisition
of the AEI group as well as the acquisitions of the previous year which had
to be accounted for over the whole year in 2000.
After deducting amortization of goodwill,profit from operating activities
(EBIT) stands at €2,235 million.The EBIT therefore also almost doubled
from the previous year.
Financial results fell over the comparable period in 1999 by €122 million
to € -197 million. The financial results also include profit from associates
(€6 million).
Financial results and income taxes taken into account,the net profit for the
period before minority interest is €1,527 million. Increasing by €498
million, it also improved considerably, compared with the previous year.