Ad hoc: 2007 meets business expectations – write-down on Americas EXPRESS unit01/23/2008
Deutsche Post announced today that 2007 results were in line with its expectations and guidance of around 3.7 billion euros EBIT before non-recurring effects. All divisions have met their targets with a sound finish to the year. The company expects to make further good progress in 2008, targeting around 4.2 billion euros EBIT before non-recurring effects.
Work continues to identify the optimal solution to performance improvements in the U.S. EXPRESS business. Following an impairment review, a non-cash write-down on EXPRESS Americas fixed assets of around 600 million euros will be recognized in the 2007 accounts. Deutsche Post World Net still expects the EXPRESS division to make consistent progress in underlying profit and to reach an EBIT of between 900 million euros and 1.1 billion euros in 2009.