DHL 2012 Annual Report Download - page 211

price approval process led to Deutsche Post  having to pay lower
social security contributions for civil servants than its competitors
pay for salaried employees. According to the Commission, this
benet represents illegal state aid that must be repaid by Deutsche
Post  to the Federal Republic of Germany. e precise amount
has to be calculated by the Federal Republic. In a press release,
the European Commission had referred to an amount of between
 million and  billion. Deutsche Post  is of the opinion
that the European Commission’s state aid decision cannot with-
stand legal review and submitted an appeal to the European Court
of Justice in Luxembourg. e Federal Republic of Germany like-
wise appealed the decision.
To implement the state aid ruling, the federal government on
 May  called upon Deutsche Post  to make a payment of
 million including interest. Deutsche Post  paid this amount
to a trustee on  June  and appealed the recovery order. e
payment made was reported solely in the balance sheet under non-
current assets, the earnings position remained unaected.
e European Commission has thus far not expressed its nal
acceptance of the calculation of the state aid to be repaid. It can-
not be ruled out that Deutsche Post  will be required to make a
higher payment.
On  November , the Bundeskartellamt (German federal
cartel oce) initiated proceedings against Deutsche Post  based
on suspicion of abusive behaviour with respect to agreements on
mail transport with major customers. Based upon information
from Deutsche Post ’s competitors, the authorities initially
suspected that the company had violated the provisions of German
and European antitrust law. Deutsche Post  does not share this
opinion. However, should the authorities nd their suspicions
conrmed, they may require Deutsche Post  to refrain from
certain acts, or impose nes.
In October   Global Forwarding, along with all other
major players in the freight forwarding industry, received a request
for information from the Competition Directorate of the Euro-
pean Commission, a subpoena from the United States Department
of Justice’s Antitrust Division and requests for information from
competition authorities in other jurisdictions in connection with
a formal investigation into the setting of surcharges and fees in the
international freight forwarding industry. In the  investigation
and the European investigation, the authorities conrmed
the amnesty for  based on its early co-operation with the
authorities; no ne was imposed against Deutsche Post DHL. In
January , an antitrust class action was initiated in the New
York District Court on behalf of purchasers of freight forward-
ing services in which Deutsche Post  and  are named as
defendants. Deutsche Post DHL is not able to comment on the out-
come of the remaining investigations in other jurisdictions or the
prospects of the class action, but believes its nancial exposure in
relation to both is limited.
 Share-based payment
Share-based payment for executives (Share Matching Scheme)
e new system to grant variable remuneration components
for some of the Group’s executives introduced in , which is
accounted for as an equity-settled share-based payment transaction
in accordance with  , was extended to include other groups of
Group executives in . Under this system, certain executives
receive part of their variable remuneration for the nancial year
in the form of shares of Deutsche Post  in the following year
(incentive shares); all Group executives can specify an increased
equity component individually by converting a further portion
of their variable remuneration for the nancial year (investment
shares). If certain conditions are met, the executive will again be
awarded the same number of Deutsche Post  shares four years
later (matching shares).
Share Matching Scheme
2009
tranche
2010
tranche
2011
tranche
2012
tranche
Grant date 1 Nov. 2009 1 Jan. 2010 1 Jan. 2011 1 Jan. 2012
Term months 53 63 63 63
End of term March 2014 March 2015 March 2016 March 2017
Share price at
grant date  11.48 13.98 12.90 12.13
Number of
incentive shares
in
thousands 430 638 659 549
Number of
matching shares
expected
in
thousands 762 1,674 1,704 1,503
In the consolidated nancial statements as at  Decem-
ber ,  million (previous year:  million) was recognised
in equity for the granting of variable remuneration components;
Note ..
Stock Appreciation Rights  Plan for executives
Since  July , selected executives have received annual
tranches of  s under the Long-Term Incentive Plan. is allows
them to receive a cash payment within a dened period in the
amount of the dierence between the respective price of Deutsche
Post shares and the xed issue price if demanding performance
targets are met. All  s under the  and  tranches
expired at the end of the respective waiting periods, since the
performance targets were not met. Aer the expiry of the wait-
ing period for the  tranche on  June , two-sixths of
the  s granted became exercisable. However, they could not be
exercised so far because the share price has not yet exceeded the
issue price of .. e exercise period for these  s will end
on  June . Since the waiting period was extended from three
to four years in , no waiting period was completed for any of
the tranches in .
Deutsche Post DHL Annual Report 
Consolidated Financial Statements
Notes
Other disclosures
207