DHL 2002 Annual Report Download - page 15

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14
The core component of the program is the integration of Danzas, Deutsche Post
Euro Express and DHL. Our employees have already gained experience in this area:
we successfully integrated ASG and Nedlloyd into Danzas between 1999 and 2001
and created the ground-based, pan-European Euro Express network. This expertise
guarantees that the integration process will function smoothly for us as well as for
our customers.
Creating value-oriented thinking – Group-wide
We have set up over a hundred divisional and cross-divisional projects that are
designed to implement our planned value creation initiatives and boost earnings in
the period up to 2005. Our goal is to increase the Group’s earnings to €3.1 billion
in 2005. The identification of our entire management team with the STAR program
ensures its success.
Demonstrating our earnings potential to the capital market
Deutsche Post stock is currently trading at a valuation discount compared to our
competitors’ shares. We intend to change this with STAR by increasing the enterprise
value and hence the share value for our shareholders. We aim to generate more than
half of the planned increase in earnings by integrating the EXPRESS and LOGISTICS
Corporate Divisions under the umbrella of DHL. In order to ensure consistent
and transparent financial reports, we will continue to report on the familiar MAIL,
EXPRESS, LOGISTICS and FINANCIAL SERVICES segments in accordance with
IASs. As of Q1/2003, one change was made to the Group’s reporting structure:
the Eurocargo Business Unit was transferred from the LOGISTICS Corporate Division
to the EXPRESS segment. Both reporting and management responsibility for the
unit changed as a result.
STAR’s key goals
Create new, value-oriented ways of thinking and acting.
Eliminate valuation discount compared with competitors on the capital market.
Increase the satisfaction of our internal and external customers.
Mobilize our employees around the world to achieve our collective, global goal.