DHL 2010 Annual Report Download - page 50
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Analysts recommend Deutsche Post shares
At the end of , analysts were following Deutsche Post shares. A total of
analysts issued a “buy” recommendation on our shares, eight more than a year earlier.
Five analysts issued a neutral recommendation regarding Deutsche Post shares and only
two to sell. e average price target increased signi cantly over the prior year to .
at the end of the year.
Private investors increase stake
e number of shares held by private investors rose again compared with the previ-
ous year, increasing from . to . of the free oat. KfW Bankengruppe continued
to hold . of our shares. e free oat remained at . , . of which were held
in the , . in Germany and . in the United Kingdom.
Deutsche Post cultivates close contact with capital markets
At the start of , capital markets participants were primarily interested in the
volume trends in our divisions and regions. Another point of interest was our new
nance strategy, which the Board of Management had introduced on March
together with the results for nancial year . Whilst talks with investors in the prior
year had revolved around the planned sale of Postbank, the impact of the economic
crisis and our restructuring measures, in the principal topic of interest involved
opportunities to achieve further growth and generate higher margins.
In November, we held a Capital Markets Day where we o ered more detail on our
nance strategy. Members of the Board of Management commented on the develop-
ments of the past months, the Group’s strategy and the individual divisions. In
addition, Board of Management members and our investor relations team cultivated
close contact with the capital markets at numerous individual meetings and investor
conferences. Our work in the eld was ranked the third-best in Europe by Institutional
Investor magazine.
. Shareholder structure1)
As at December .
On July KfW issued a convertible bond
on Deutsche Post shares (volume: . million
shares). Investors can convert this bond from
the fi rst due date for interest until July .
of which 4.5 %
KfW convertible bond2)
of which 62.0 %
institutional investors
of which 7.5 %
private investors
30.5 % KfW Bankengruppe
69.5 % free fl oat
Deutsche Post DHL Annual Report
36