DHL 2003 Annual Report Download - page 6

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Does your global logistics service provider promise you “more”? More reliable
and flexible, faster and stronger, with greater reach and passion for the services
it offers?
Deutsche Post World Net promised all of the above in the past year – and
kept its word. We will stick to this path, keeping our promises to our customers,
shareholders and employees.
You may be wondering why I am so sure of this. There are three reasons.
First: in 2003, we again achieved the targets we set ourselves.
Deutsche Post World Net’s revenue and earnings not only met, but surpassed the
expectations of the capital markets.
Our share price outperformed both the DAX and our competitors.
And we achieved this despite the weakness and uncertainty of the global eco-
nomy, which is unfortunately still giving us little cause for optimism about the future.
But there are also signs of recovery. The trend on the stock markets is brighter, and
the US and Japanese economies are picking up again. Europe and Germany must now
follow their lead. This includes having the courage to implement the reforms necessary
to increase our international competitiveness again.
As a company, we have made our contribution towards this goal by concluding
an agreement with our social partner ver.di: the first of its kind in Germany. This
allowed me to promise the employees of Deutsche Post AG that compulsory redun-
dancies will be ruled out until March 2008. By then, we will have kept this promise
for 18 years. In return, employees have made concessions of their own, voluntarily
agreeing to extend their weekly working hours to 48 in deliveries, and to work
two holidays. At a time when working hours are the subject of acrimonious debate
in Germany, ours is an example of two parties – a company and the unions – coming
to an agreement quickly and with a clear focus. We are proud of this achievement.
Our STAR program is progressing exceedingly well. Our aim was to generate
an earnings contribution from STAR of €350 million by the end of 2003, and we
have far exceeded that figure.
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