DHL 2001 Annual Report Download - page 34
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34
Risk Report
Risks from future developments
Deutsche Post World Net employs a uniform method of documenting risks
throughout the Group, with responsibility devolved to the individual business
and corporate departments and subsidiaries.All these business units are obliged
to update their forecasts on a quarterly basis. Potential risks are inventoried
by each business unit once a year, and this information forms the basis for our
ongoing systematic risk management. The Board of Management receives a
twice-yearly report on the major opportunities and risks within the Group.
In fiscal year 2001, the risk management system was the subject of internal
auditing, and was also examined for its suitability as part of the external audit
of the annual financial statements.
Deutsche Post World Net does not currently consider itself at significant risk
from macroeconomic factors. The increasing internationalization of our busi-
ness activities increases our vulnerability to economic fluctuations in our main
markets, but minimizes our dependence on individual markets.
There are various sector risks for our four corporate divisions:
Significant risks arise from the special regulatory framework governing the
mail market.The EU Directive on competition in the European postal market
provides for an upper weight limit of 350g for mail whose transportation can
be reserved for traditional postal companies. In accordance with the Postgesetz
(German Postal Act), the scope of the exclusive license which is scheduled to
lapse at the end of 2007 is much narrower and more restrictive. Furthermore,
the Postal Act allows exceptions, on the basis of which competitors in the local
post segment are permitted even within the boundaries of the exclusive license.