DHL 2015 Annual Report Download - page 104
Download and view the complete annual report
Please find page 104 of the 2015 DHL annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94 -
95 -
96 -
97 -
98 -
99 -
100 -
101 -
102 -
103 -
104 -
105 -
106 -
107 -
108 -
109 -
110 -
111 -
112 -
113 -
114 -
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
-
221
-
222
-
223
-
224
 |
 |
Deutsche Post Group — Annual Report
EXPECTED DEVELOPMENTS
Overall Board of Management assessment
of the future economic position
Consolidated of . billion to . billion expected
e Board of Management expects consolidated to reach between . billion and
. billion in nancial year . e Post - eCommerce - Parcel division is likely to
contribute more than . billion to this gure. Compared with the previous year, we
expect a signicant improvement in overall earnings to between . billion and
. billion in the divisions. All of the divisions are expected to contribute to
the increase. Whereas earnings in the Express division are likely to continue rising
steadily, a signicant improvement is expected for Global Forwarding, Freight and
Supply Chain now that the expenses incurred in connection with the transformation
process will no longer arise. e Corporate Center / Other result is projected to remain
at around –. billion. In line with the projected growth in , we expect that
will also grow substantially in . Free cash ow is again expected to more than cover
the dividend payment for nancial year projected to be made in May .
Forecast period
Outlook generally refers to
e information contained in the report on expected developments generally refers to
nancial year . However, in some instances we have chosen to extend the scope.
Future organisation
No material changes to the organisational structure planned
No material changes to the Group’s organisational structure are planned for nancial
year .
Future economic parameters
Uncertain outlook for the global economy
e global economy is expected to see a slight acceleration in . However, the outlook
is unusually precarious. e economic upturn in the industrial countries is likely to
become somewhat stronger, aided by low oil prices and expansionary monetary policies.
Higher growth rates are also expected for the emerging markets, assuming the severe
recessions being experienced by some of the major threshold economies come to an end.
However, the situation will remain problematic for countries dependent on crude oil
exports in particular. In addition, there are a number of political and structural risks
whose occurrence could ultimately impact the economies of the industrial countries.
94