Ad hoc: Deutsche Post management confirms Full-Year 05 Group guidanceBonn, 10/24/2005, 11:30 AM CEST
In the context of the Offering Document, which is now being posted to Exel shareholders, the Board of Deutsche Post confirms the forecast that current year operating profit (EBIT) will be at least Euro 3.6 billion. Correspondingly, the Board of Deutsche Post forecasts that the consolidated net profits will exceed those of the previous year by at least Euro 500 million.
The profit forecast for the full year 2005 is based on the interim financial results for the six months ended 30 June 2005, the management accounts for the two months ended 31 August 2005 and the Board of Deutsche Post's forecast of results for the six months ending 31 December 2005.
A further section in the Offer Document related to the current trading of Deutsche Post states that the current trading performance and outlook in the view of the Board of Deutsche Post are in line with expectations. As previously communicated to the markets, Deutsche Post faces integration challenges in its Express business and these challenges are affecting results for that division. But reduced pension provisions and pensions costs mean that the Board of Deutsche Post is able to confirm the previous group profit forecast as outlined above.
For all having access to the transaction website the Offer Document is expected to be available for download from Tuesday, 25 October 2005, 0800h CET. The document will be available only in English.