Deutsche Post DHL Annual Report 2014

2014 Annual Report

Multi-Year Review

Excerpts from Deutsche Post AG's 2014 Group Annual Report.

Key figures 2007 to 2014XLS
€m
    2007
adjusted
  2008
adjusted
  2009
adjusted
  2010
adjusted
  2011
adjusted
  2012
adjusted
  2013
adjusted
  2014
 

Revenue
Post - eCommerce - Parcel (until 2013 Mail)
 

14,569
 

14,393
 

13,912
 

13,913
 

13,973
 

13,972
 

15,291
 

15,686
Express   13,874   13,637   9,917   11,111   11,691   12,778   11,821   12,491
Global Forwarding, Freight   12,959   14,179   11,243   14,341   15,118   15,666   14,787   14,924
Supply Chain   14,317   13,718   12,183   13,061   13,223   14,340   14,227   14,737
Divisions total   55,719   55,927   47,255   52,426   54,005   56,756   56,126   57,838
Corporate Center/Other
(2007: Corporate Center/Other and Consolidation)
 
–1,676
 
1,782
 
1,527
 
1,302
 
1,260
 
1,203
 
1,251
 
1,343
Consolidation     –3,235   –2,581   –2,340   –2,436   –2,447   –2,465   –2,551
Total (continuing operations)   54,043   54,474   46,201   51,388   52,829   55,512   54,912   56,630
Discontinued operations   10,335   11,226   1,634          

Profit/loss from operating activities (EBIT)
Post - eCommerce - Parcel (until 2013 Mail)
 

1,976
 

2,179
 

1,391
 

1,120
 

1,107
 

1,048
 

1,286
 

1,298
Express   –272   –2,194   –790   497   916   1,110   1,083   1,260
Global Forwarding, Freight   409   362   174   383   440   514   478   293
Supply Chain   577   –920   –216   231   362   419   441   465
Divisions total   2,690   –573   559   2,231   2,825   3,091   3,288   3,316
Corporate Center/Other
(2007: Corporate Center/Other and Consolidation)
 
–557
 
–393
 
–328
 
–395
 
–389
 
–423
 
–421
 
–352
Consolidation     0   0   –1   0   –3   –2   1
Total (continuing operations)   2,133   –966   231   1,835   2,436   2,665   2,865   2,965
Discontinued operations   1,060   –871   –24          

Consolidated net profit/loss for the period
 
1,873
 
–1,979
 
693
 
2,630
 
1,266
 
1,762
 
2,211
 
2,177

Cash flow/capex/depreciation, amortisation
and impairment losses

Net cash from/used in operating activities
 


5,151
 


1,939
 


–584
 


1,927
 


2,371
 


–203
 


2,989
 


3,040
Net cash used in/from investing activities   –1,053   –441   –2,710   8   –1,129   –1,697   –1,765   –1,087
Net cash used in/from financing activities   –1,787   –1,468   1,676   –1,651   –1,547   1,199   –110   –2,348
Capex (2007: including purchased goodwill)   2,742   1,727   1,171   1,262   1,716   1,697   1,747   1,876
Depreciation, amortisation and impairment losses   2,196   2,662   1,620   1,296   1,274   1,339   1,337   1,381

Assets and capital structure
Non-current assets
 

25,764
 

20,517
 

22,022
 

24,493
 

21,225
 

21,568
 

21,370
 

22,902
Current assets   209,656   242,447   12,716   13,270   17,183   12,289   14,091   14,077
Equity (excluding non-controlling interests)   11,035   7,826   8,176   10,511   11,009   9,019   9,844   9,376
Non-controlling interests   2,778   2,026   97   185   190   209   190   204
Current and non-current provisions   12,276   10,836   9,677   9,427   9,008   8,978   8,481   10,411
Current and non-current liabilities1   21,544   242,276   16,788   17,640   18,201   15,651   16,946   16,988
Total assets   235,420   262,964   34,738   37,763   38,408   33,857   35,461   36,979
  1. 1 Excluding liabilities from financial services. 
 XLS
 
        2007
adjusted
  2008
adjusted
  2009
 
  2010
 
  2011
 
  2012
adjusted
  2013
adjusted
  2014
 

Employees/staff costs
(continuing operations)


Number of employees2
 


As at 
31 Dec.
 



512,147
 



512,536
 



477,280
 



467,088
 



471,654
 



473,626
 



479,690
 



488,824

Full time equivalents3
  As at 
31 Dec.
 
453,626
 
451,515
 
424,686
 
418,946
 
423,502
 
428,129
 
434,974
 
443,784
Average number of employees2       500,252   511,292   488,518   464,471   467,188   472,321   478,903   484,025
Staff costs   m   17,169   18,389   17,021   16,609   16,730   17,770   17,776   18,189
Staff cost ratio4   %   31.8   33.8   36.8   32.3   31.7   32.0   32.4   32.1

Key figures revenue/income/assets
and capital structure

Return on sales5
 


%
 


3.9
 


–1.8
 


0.5
 


3.6
 


4.6
 


4.8
 


5.2
 


5.2
Return on equity (ROE) before taxes6   %   8.6   –9.0   3.0   29.8   15.2   23.6   26.7   26.3
Return on assets7   %   0.9   –0.4   0.2   5.1   6.4   7.4   8.3   8.2
Tax rate8   %   14.0     5.4   6.9   23.7   20.2   14.0   15.5
Equity ratio9   %   5.9   3.7   23.8   28.3   29.2   27.3   28.3   25.9
Net debt (+)/net liquidity ()10   m   2,858   2,466   –1,690   –1,382   –938   1,952   1,499   1,499
Net gearing11   %   20.4   23.7   –25.7   –14.8   –9.1   17.5   13.0   13.5
Dynamic gearing12   years   1.0   0.7   –1.4   –0.7   –0.4   –9.6   0.5   0.5

Key stock data
Basic earnings per share13
 

 

1.15
 

–1.40
 

0.53
 

2.10
 

0.96
 

1.36
 

1.73
 

1.71
Diluted earnings per share14     1.15   –1.40   0.53   2.10   0.96   1.30   1.66   1.64
Cash flow per share13, 15     4.27   1.60   –0.48   1.59   1.96   –0.17   2.47   2.51
Dividend distribution   m   1,087   725   725   786   846   846   968   1,03016
Payout ratio   %   78.6     112.6   30.9   72.7   51.6   46.3   49.7
Dividend per share     0.90   0.60   0.60   0.65   0.70   0.70   0.80   0.8516
Dividend yield   %   3.8   5.0   4.4   5.1   5.9   4.2   3.0   3.1
Price-to-earnings ratio17       20.4   –8.5   25.5   6.0   12.4   12.2   15.3   15.8
Number of shares carrying dividend rights   millions   1,208.2   1,209.0   1,209.0   1,209.0   1,209.0   1,209.0   1,209.0   1,211.2
Year-end closing price     23.51   11.91   13.49   12.70   11.88   16.60   26.50   27.05
  1. 2 Headcount including trainees. 
  2. 3 Excluding trainees. 
  3. 4 Staff costs/revenue. 
  4. EBIT/revenue.
  5. 6 Profit before income taxes/average equity (including non-controlling interests). 
  6. EBIT/average total assets. 
  7. 8 Income taxes/profit before income taxes. 
  8. 9 Equity (including non-controlling interests)/total assets. 
  9. 10 In 2007 excluding financial liabilities to minority shareholders of Williams Lea. From 2008: Group Management Report
  10. 11 Net debt/net debt and equity (including non-controlling interests).
  11. 12 Net debt/cash flow from operating activities. 
  12. 13 The average number of shares outstanding is used for the calculation. 
  13. 14 The average number of shares outstanding is adjusted for the number of all potentially dilutive shares. 
  14. 15 Cash flow from operating activities. 
  15. 16 Proposal.
  16. 17 Year-end closing price/basic earnings per share.
© 2015 Deutsche Post AG
Deutsche Post DHL

2014 Annual Report

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