DHL 2015 Annual Report Download - page 108

Deutsche Post  Group —  Annual Report
well as the dividend payment for nancial year  in May . However, our oper-
ating liquidity situation will improve again signicantly towards the end of the year due
to the upturn in business that is normal in the second half.
Capital expenditure of around . billion expected
In , we plan to increase capital expenditure to around . billion in support of our
strategic objectives, the focus of which will be similar to that of previous years.
In the Post - eCommerce - Parcel division, we shall expand our domestic and inter-
national parcel network, improve  and oer new delivery options. In the Express
div ision, we shall continue to invest in our global and regional hubs predominantly in
Europe. In  we shall invest in our  landscape in the Global Forwarding, Freight
division. In the Supply Chain division, capital expenditure is to provide selective support
to the planned expansion of our business. Cross-divisionally we shall focus upon invest-
ments in vehicles and .
Development of further indicators relevant
for internal management
 increases significantly
In line with the projected growth in , we expect that  will also grow substantially
in . Divisional  will be aected by the same inuences as detailed in the 
outlook. However, as our investing activities continue and the net asset base increases
as a result, the rise in  aer asset charge may fall slightly short of  growth. Free
cash ow is expected to again more than cover the dividend payment for nancial year
 projected to be made in May .
Employee Opinion Survey results again positive
We intend to keep up the positive results that our Employee Opinion Survey achieved
in the reporting year. For , we expect to see an increase to   in the approval
rating for the key performance indicator Active Leadership based upon the question-
naire that was developed further during the reporting year.
Further improve greenhouse gas eciency
We expect the Group to further improve its carbon eciency. Our  score should
increase by one index point during nancial year .
This Annual Report contains forward-looking statements that relate to the business, financial performance and results of operations
of Deutsche Post . Forward-looking statements are not historical facts and may be identified by words such as “believes”,
“ expects”, “predicts”, “intends”, “projects”, “plans”, “estimates”, “aims”, “foresees”, “anticipates”, “targets” and similar expressions.
As these statements are based upon 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 for-
ward-looking statements to reflect events or circumstances after the date of this Annual Report.
Any internet sites referred to in the Group Management Report do not form part of the report.
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