DHL 2009 Annual Report Download - page 49

EARNINGS, FINANCIAL POSITION
AND ASSETS AND LIABILITIES
THE GROUP’S ECONOMIC POSITION
Overall assessment by the Board of Management
Deutsche Post DHL turned in a solid performance in  nancial year  given
the global economic crisis. Although transported volumes were signi cantly down on
the prior-year level, we were able to cushion the decrease in  before non-recurring
items. In fact, at approximately  . billion, we even slightly exceeded our forecast,
which was increased to at least  . billion during the course of the year.
We have taken appropriate measures to survive the crisis and emerge from it even
stronger: we have saved more than   billion in indirect costs with our IndEx pro-
gramme. We have restructured the express business, which will continue to have a
positive in uence on our pro tability going forward.  e sale of Postbank has con-
solidated our  nancial position. Rating agencies gave us a positive short-term credit
rating, thanks not least to net liquidity of  . billion at the end of the year. We have
signi cantly cut investments and focused on organic growth.
. Selected key indicators for results of operations (continuing operations)
2008
adjusted
2009
Revenue  m 54,474 46,201
Profi t from operating activities  before non-recurring items  m 2,011 1,473
Profi t / loss from operating activities   m −966 231
Return on sales1)  −1.8 0.5
Consolidated net profi t / loss for the period2)  m −1,688 644
Earnings per share3)  −1.40 0.53
Dividend per share  0.60 0.604)
  / revenue.  Excluding minorities, including Postbank.  Including Postbank.  Proposal.
SIGNIFICANT EVENTS
Transaction for the sale of Postbank shares completed
 e transaction for the sale of Postbank shares to Deutsche Bank agreed in Janu-
ary was completed on  February  as planned. Deutsche Bank received a . 
interest in Postbank from Deutsche Post DHL in return for  million Deutsche Bank
shares from a capital increase ( rst tranche). By July , Deutsche Post DHL sold
all of its shares in Deutsche Bank  on the market, as planned, taking a key step
towards becoming a pure-play mail and logistics group.  e Group generated around
  million more than anticipated from the sale of the  million Deutsche Bank
shares. Deutsche Post DHL now no longer holds any shares in Deutsche Bank.  e  rst
tranche a ected earnings in  by   million; this amount is contained in pro t
from discontinued operations and in net  nancial income.
Deutsche Post DHL Annual Report 
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