DHL 2004 Annual Report Download - page 68

Download and view the complete annual report

Please find page 68 of the 2004 DHL annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 140

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140

In November, Deutsche Post Global Mail acquired around 38% of the shares in the
Spanish company Unipost. The company is the largest private provider of postal
services in the Spanish mail market, and has specialized in the national transporta-
tion of business mail. Unipost has an extensive network of franchises and partners.
It already reaches a good 70% of the Spanish population via its own locations and
those of its partners.
In addition, Deutsche Post Global Mail acquired a majority interest in the French
mail services provider KOBA at the end of the year, when the agreement was signed.
The company is one of the leading specialists in direct marketing* and mail com-
munication in France and cooperates with the French postal service in national
delivery.
In the EXPRESS Corporate Division, DHL’s activities were as follows:
In September, DHL acquired the remaining 25% interest in Guipuzcoana. Now that
our shareholding has reached 100%, we are in a position to push ahead vigorously
with the integration of our own activities on the Iberian peninsula.
In November, when the relevant agreement was signed, DHL acquired an initial
68% of the Indian express company Blue Dart. This move gives DHL access to the
rapidly growing Indian domestic market for express services. We are the first inter-
national express and logistics business able to offer our customers our own domestic
and international express services in China and India.
Finally, in December, DHL established a joint venture with New Zealand Post,
which is 50% owned by each company and which will combine their respective
local express and logistics activities. This agreement represents a major boost for
the development of DHL’s market position in the Asia/Pacific region.
Further details of changes in the consolidated group can be found under item 3 in the
notes to the consolidated financial statements.
Concentration on core business
In the year under review, the Group disposed of some of the investments classified as not
belonging to its core business in the course of systematic portfolio management. This
move is intended to define its profile more clearly. The most significant disposals were:
In the EXPRESS Corporate Division, DHL Freight divested itself of its involvement
in the road transportation of liquid and dry bulk goods: in April 2004, Danzas
Chemicals was sold to the Dutch transport company De Rijke.
In September, we sold our webmail service ePost. Existing customers were able to
switch to the Lycos Europe web portal on exclusive terms and benefit from the wide
range of services offered by this leading webmail provider.
In addition, we disposed of a number of minority investments in the IT sector. This
involved the sale of our investments in GFT Technologies (latterly, around 4%),
Kordoba (22%) and the Swiss Delta Vista Holding (12%).
Further details of changes in the consolidated group can be found under item 3 in the
notes to the consolidated financial statements.
* These terms are explained in the Glossary
64