DHL 2010 Annual Report Download - page 124

Liquidity remains substantial
Due to our substantial liquidity position, no major funding initiatives are currently
planned. Since we pass on most of the commodity price risk to our customers, we do not
expect potential  uctuations in the price of crude oil to impact our earnings.
We shall increase investments
In the wake of the economic recovery, we expect to be able to raise our investments
to no more than  . billion in ,   more than in .  e majority of new invest-
ments will go into property, plant and equipment in the  and  divisions.
Investments in the  division will be higher than in the previous year and will be
earmarked predominantly for the domestic mail business. Additional mail centres will
be equipped with new mail sorting machines. In our parcel business, we plan to expand
production capacities in order to accommodate higher shipment volumes and to update
our  equipment. Moreover, our retail outlet network is scheduled for additional restruc-
turing, which will primarily consist of updating the so ware used in the retail outlets.
In the  division, we intend to step up capital expenditure in . Invest-
ments will relate mainly to the maintenance and expansion of our global network
in order to sustain our high quality level in light of increasing volumes. We also plan
toselectively enhance our footprint in a number of countries and regions based on our
strategy ofgrowth and pro tability.
In the  ,  division, we are planning somewhat higher
investments for  than in . We want to improve the  solutions of our Global
Forwarding business unit. In regional terms, we shall focus on the growth regions of
Africa & South Asia Paci c and North Asia Paci c. In the Freight business unit, we
intend to invest in our branch network.
We also plan to increase capital expenditure in the   division. With
no major projects planned, investments will centre on new and existing business.  e
main focus of the additional investments will be on supporting our Growth  rough
Excellence strategy, in particular growth in the Americas and Asia Paci c regions.
Cross-divisional capital expenditure will see a slight year-on-year increase in .
As in the reporting year, investments will focus on our vehicle  eet and .
This Annual Report contains forward-looking statements that relate to the business, fi nancial performance and results of opera-
tions of Deutsche Post . Forward-looking statements are not historical facts and may be identifi ed by words such as “believes”,
“expects”, “predicts”, “intends”, “projects”, “plans”, “estimates”, “aims”, “foresees”, “anticipates”, “targets” and similar expressions.
As these statements are based on current plans, estimates and projections, they are subject to risks and uncertainties that could
cause actual results to be materially different from the future development, performance or results expressly or implicitly assumed
in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which
apply only as at the date of this presentation. Deutsche Post  does not intend or assume any obligation to update these forward-
looking statements to refl ect events or circumstances after the date of this Annual Report.
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