DHL 2012 Annual Report Download - page 5
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We took advantage of the positive perception of our company on the capital market
and borrowed billion at favourable, long-term conditions in December in order
to continue funding our pension obligations. is move will improve our cash ow
and secure retirement bene ts for our employees.
In the current nancial year, we expect moderate growth in the world economy that
will pick up momentum as the year progresses with a corresponding increase in
revenues, especially in the divisions.
Against this backdrop, we expect consolidated to reach between . billion and
. billion in nancial year . e division is likely to contribute between
. billion and . billion to this gure. In the divisions, we expect an additional
improvement in overall earnings to between . billion and . billion. Operating
cash ow will recover from the one-time charges in the previous year and bene t from
the earnings improvement.
For me, achieving such good nancial results in a di cult environment is just further
evidence that our Strategy is delivering and is being implemented successfully –
for the bene t of our shareholders, customers and employees. With our extensive
portfolio of products and services, targeted innovations in growth areas, exceptional
position in the emerging markets and a culture of continuous improvement, we have
laid the best possible foundation for further growth.
Just like the people I had the pleasure of meeting in China – such as at the opening
of the North Asia Hub in Shanghai, on my delivery tour and in one-on-one talks with
employees on site – we shall continue to press forward with spirit and determination.
Yours faithfully,