DHL 2007 Annual Report Download - page 8
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Roadmap to Value
Introduction of a new performance metric
■ We are introducing EBIT after asset charge as a new
primary performance metric to focus all divisions on
sustained value growth. From 1 January 2008, man-
agement incentives will also be tied to this metric. In
this way, we aim to improve cash generation.
■ We also plan for a €700 million reduction in net
working capital by the end of 2009.
■ Disposals of real estate and other assets are planned
over the next 24 months to free up at least €1 billion.
2. Cash generation
New performance metric to focus management on value growth
EBIT after asset charge
Asset charge
EBIT EBIT currently major performance
and steering metric
Focus management attention on
capital tied into their business
EBIT after asset charge to become
new key performance indicator at
Deutsche Post World Net
WACC1NAB2
–
=x
=
1) Weighted average cost of capital.
2) Net asset base.