Overall Board of Management assessment of the future economic position
The Board of Management expects consolidated EBIT to reach between €3.4 billion and €3.7 billion in financial year 2016. The Post - eCommerce - Parcel division is likely to contribute more than €1.3 billion to this figure. Compared with the previous year, we expect a significant improvement in overall earnings to between €2.45 billion and €2.75 billion in the DHL divisions. All of the DHL divisions are expected to contribute to the increase. Whereas earnings in the Express division are likely to continue rising steadily, a significant 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. The Corporate Center/Other result is projected to remain at around €–0.35 billion. In line with the projected growth in EBIT, we expect that EAC will also grow substantially in 2016. Free cash flow is again expected to more than cover the dividend payment for financial year 2015 projected to be made in May 2016.