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Supply Chain Financials

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Supply Chain Financials document sample

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									IR Package

 Q1 2011
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             Index (please click on one of the links below to open the according sheet)

             Group overview
             Group quarterly yoy development
             Group P&L
             Balance Sheet
             Group Cash Flow
             Mail financials
             Mail volumes
             Express financials
             Express volumes
             DGF financials
             DGF volumes
             Supply Chain financials
             Supply Chain sector overview
             Overview financial result
             Capex overview
             Net debt Overview
             FFO/Debt
             Restructuring charges overview




             IR Contact (Fax +49 228 182 63299)

             Martin Ziegenbalg (Head of Investor Relations)    m.ziegenbalg@deutschepost.de        +49 228 182 63000
             Thorsten Boeckers                                 t.boeckers@deutschepost.de          +49 228 182 63204
             Florian Bumberger                                 florian.bumberger@deutschepost.de   +49 228 182 63208
             Sebastian Slania                                  sebastian.slania@deutschepost.de    +49 228 182 63203
             Robert Schneider                                  robert.schneider1@deutschepost.de   +49 228 182 63201
             Daniel Stengel                                    daniel.stengel@deutschepost.de      +49 228 182 63202
             Simone Krebs                                      simone.krebs@deutschepost.de        +49 228 182 63001




                                                                                                                       Deutsche Post DHL
IR Package Q1 2011                                                                                                      Investor Relations
Released on May 10th, 2011                                                                                                               1
Group overview




                                                                         restated

in € m                                                            Q1 2010           Q2 2010        Q3 2010         Q4 2010         FY 2010          Q1 2011 yoy in %

Total revenue                                                      12,016           12,795          12,799          13,871          51,481           12,842          6.9%


t/o Mail                                                             3,506            3,265           3,241           3,809          13,821            3,514         0.2%

t/o Express                                                          2,620            2,868           2,719           2,904          11,111            2,765         5.5%

t/o Global Forwarding, Freight                                       3,117            3,611           3,715           3,898          14,341            3,581        14.9%

t/o Supply Chain                                                     3,044            3,304           3,385           3,568          13,301            3,273         7.5%

t/o CC/other                                                           328              326             316              332           1,302              323        -1.5%

t/o Consolidation                                                     -599             -579            -577             -640          -2,395             -614        -2.5%

Reported group EBIT                                                    512              253             545             525           1,835              629        22.9%

t/o Mail                                                               389              243             259              227           1,118              373        -4.1%

t/o Express                                                            110               -30            199              218             497              216       96.4%

t/o Global Forwarding, Freight                                           53               99            100              131             383               69       30.2%

t/o Supply Chain                                                         56               53              81              43             233               78       39.3%

t/o CC/other/consolidation                                              -96            -112              -94             -94            -396             -107      -11.5%

Non recurring items                                                     -54            -250                2             -68            -370                0             -

Underlying group EBIT                                                  566              503             543              593           2,205              629       11.1%


Free Cash Flow 1)                                                     -376             -114             327              647             484             -342        9.0%

CAPEX                                                                  195              286             282             499           1,262              252        29.2%
Capex/depreciation                                                   61.3%            88.5%           88.7%          148.1%           97.4%            82.1%

Net Debt (+) / Net Liquidity (-)                                    -1,410             -535            -928           -1,382          -1,382           -1,084

FFO/Debt 2)                                                          35.0%            34.2%           35.6%           35.2%           35.2%            34.9%
# Employees (average FTE)                                          422,989          420,856         420,857         421,274         421,274          419,431

1) Calculation on the Cash Flow overview sheet
2) FFO to debt is calculated on a rolling 12-month basis. The definition of this metric and the methodology used to calculate its individual components correspond to those used by the rating agency Standard & Poor’s.




                                                                                                                                                                                                                           Deutsche Post DHL
IR Package Q1 2011                                                                                                                                                                                                          Investor Relations
Released on May 10th, 2011                                                                                                                                                                                                                   2
Group qtr yoy



                                      restated
in € m                                Q1 2010           FX       Q1 2011       yoy in %


Total revenue                              12,016       146        12,842          6.9%

t/o Mail                                     3,506           0       3,514         0.2%

t/o Express                                  2,620       36          2,765         5.5%

t/o Global Forwarding, Freight               3,117       66          3,581        14.9%

t/o Supply Chain                             3,044       47          3,273         7.5%

t/o CC/other                                     328         1        323         -1.5%

t/o Consolidation                                -599    -4           -614        -2.5%

Total expenses                             11,504                  12,213          6.2%

t/o material expenses                        6,586                   7,298        10.8%

t/o staff cost                               4,174                   4,128        -1.1%

t/o net other operating                          426                  479         12.4%

t/o depreciation                                 318                  308         -3.1%

EBITDA                                           830                  937         12.9%

EBIT                                             512                  629         22.9%

Non recurring items                               -54                      0              -


Underlying EBIT                                  566                  629         11.1%

Op. Cash Flow pre changes in WC                  441                  628         42.4%

Changes in WC                                    -536                 -662       -23.5%
Op. Cash Flow after changes in WC                 -95                  -34        64.2%
Cash Flow from investing activities              -195                 -237       -21.5%
Capex                                            195                  252         29.2%

                                                                                              Deutsche Post DHL
IR Package Q1 2011                                                                             Investor Relations
Released on May 10th, 2011                                                                                      3
P&L



in € m                                    Q1 2010   Q2 2010   Q3 2010   Q4 2010   FY 2010   Q1 2011   yoy in %

Revenue                                    12,016    12,795    12,799    13,871    51,481    12,842       6.9%

Other operating income                       435       544       495       743      2,217      389      -10.6%

Total operating income                    12,451    13,339    13,294    14,614    53,698    13,231        6.3%


Material expenses                           6,586     7,344     7,437     8,106    29,473     7,298      10.8%

Staff cost                                  4,174     4,149     3,974     4,312    16,609     4,128      -1.1%

Depreciation, amortizatzion
                                             318       323       318       337      1,296      308       -3.1%
and impairment loss
Other operating expenses                     861      1,270     1,020     1,334     4,485      868        0.8%

Total operating expenses                  11,939    13,086    12,749    14,089    51,863    12,602        5.6%


Profit from operating activities (EBIT)      512       253       545       525      1,835      629       22.9%


Net income from associates                    34        24        31        -33       56        58       70.6%

Net other financial income                  1,294      -166      -253       58       933       -219              -

Net financial income                       1,328      -142      -222        25       989      -161               -


Profit before income taxes                  1,840      111       323       550      2,824      468      -74.6%

Income taxes                                  -70       -18       -74       -32      -194      -117     -67.1%

Consolidated net profit for the period     1,770        93       249       518     2,630       351      -80.2%

Non controlling interest                      23        12        23        31        89        26       13.0%

Net profit attributable to
                                            1,747       81       226       487      2,541      325      -81.4%
DPAG shareholders

Basic EPS                                   1.44      0.07      0.19      0.40      2.10      0.27      -81.3%

                                                                                                           Deutsche Post DHL
IR Package Q1 2011                                                                                          Investor Relations
Released on May 10th, 2011                                                                                                   4
Balance Sheet




Balance sheet                                                    Q1 2010       Q2 2010       Q3 2010       FY/Q4 2010     Q1 2011
ASSETS
Intangible assets                                                     11,740        12,182        11,754         11,848        11,525
PPE                                                                    6,150         6,183         5,987          6,130         5,998
Investment property                                                       33            44            48             37            37
  Investments in associates                                            1,839         1,852         1,949          1,847              51
Noncurrent financial assets                                            2,911         2,925         2,838          3,193             646
Other noncurrent assets                                                  380           410           421            465             470
Deferred tax assets                                                      709           848           854            973             944
Noncurrent assets                                                    23,762        24,444        23,851         24,493        19,671
Inventories                                                              223           222           217            223           233
Noncurrent assets held for sale                                          187           123           141            113         2,068
Income tax assets                                                        246           238           213            223           218
Receivables and other assets                                           8,108         8,652         8,539          8,641         9,186
Current financial assets                                               1,916         1,671           733            655         3,115
Cash and cash equivalents                                              2,696         2,065         3,130          3,415         2,943
Current assets                                                       13,376        12,971        12,973         13,270        17,763
Total assets                                                         37,138        37,415        36,824         37,763        37,434


EQUITY AND LIABILITIES
Issued capital                                                         1,208         1,209         1,209          1,209         1,207
Other reserves                                                         1,175         1,664         1,430          1,535         1,306
Retained earnings                                                      7,836         7,201         7,427          7,767         8,073
Equity attributable to DPAG shareholders                              10,219        10,074        10,066         10,511        10,586
Non controlling interests                                                125            95           107            185           195
Equity                                                               10,344        10,169        10,173         10,696        10,781
   Provisions for pensions and similar obligations                     4,565         4,588         4,567          4,513         4,502
   Deferred tax liabilities                                              171           230           171            215           202
   Other noncurrent provisions                                         2,257         2,427         2,334          2,440         2,329
Noncurrent provisions                                                 6,993         7,245         7,072          7,168         7,033
   Noncurrent financial liabilities                                    6,735         6,701         6,401          6,275         2,054
   Other noncurrent liabilities                                          350           363           346            401           363
Noncurrent liabilities                                                7,085         7,064         6,747          6,676         2,417
Noncurrent provisions and liabilities                                14,078        14,309        13,819         13,844         9,450

Current provisions                                                    2,499         2,388         2,209          2,259         2,181
   Current financial liabilities                                         682           786           853            747         4,831
   Trade payables                                                      4,872         5,352         5,189          5,707         5,207
   Current tax liabilities                                               390           397           444            463           481
   Liabilities associated with noncurrent assets held for sale           120             0             2              0            62
   Other current liabilities                                           4,153         4,014         4,135          4,047         4,441
Current liabilities                                                  10,217        10,549        10,623         10,964        15,022
Current provisions and liabilities                                   12,716        12,937        12,832         13,223        17,203
Total equity and liabilities                                         37,138        37,415        36,824         37,763        37,434


                                                                                                                                          Deutsche Post DHL
IR Package Q1 2011                                                                                                                         Investor Relations
Released on May 10th, 2011                                                                                                                                  5
Cash Flow overview



in € m                                                          Q1 2010      Q2 2010      Q3 2010      Q4 2010      FY 2010       Q1 2011      yoy in %

EBIT                                                                  512          253          545          525        1,835         629        22.9%


Depreciation/amortization                                             318          323          318          337        1,296         308         -3.1%


Change in provisions                                                 -358         -273         -198         -124         -953         -198       44.7%


other                                                                 -31          147          -49         -136          -69         -111     > -100%


Operating cash flow before changes in WC                              441          450          616          602        2,109         628        42.4%


Changes in Working Capital                                           -536          -85           16          423         -182         -662      -23.5%

Operating cash flow after changes in WC from continuing
                                                                      -95          365          632        1,025        1,927          -34       64.2%
operations

Net capex 1)                                                         -149         -224         -250         -353         -976         -253      -69.8%

Net M&A 2)                                                            -71         -248          -23            3         -339           0              -

Net interest 3)                                                       -61            -7         -32          -28         -128          -55        9.8%


Free Cash Flow                                                       -376         -114          327          647          484         -342        9.0%

1) Cash paid to acquire PPE and intangible assets + Proceeds from disposal of PPE and intangible assets
2) Cash paid to acquire subsidiaries and other business units + Proceeds from disposal of subsidiaries and other business units
3) Interest paid + Interest received




                                                                                                                                       Deutsche Post DHL
IR Package Q1 2011                                                                                                                      Investor Relations
Released on May 10th, 2011                                                                                                                               6
Mail overview




                                          restated

in € m                       Q1 2010    Q2 2010      Q3 2010   Q4 2010   FY 2010   Q1 2011    yoy in %

                              3,506      3,265        3,241     3,809    13,821     3,514          0.2%
Total revenues
Mail Communication             1,469      1,347        1,294     1,487     5,597     1,386        -5.7%
Dialogue Marketing               667        597          618       713     2,595       679         1.8%
Press Distribution               205        197          186       209       797       202        -1.5%
Value Added Services              86         83           82        88       339        89         3.5%
Parcel Germany                   650        619          628       835     2,732       706         8.6%
Global Mail                      423        414          418       480     1,735       426         0.7%
Retail Outlets                   196        192          195       217       800       198         1.0%
Pension Service                   20         25           33        24       102        23        15.0%
Consolidation/other             -210       -209         -213      -244      -876      -195         7.1%

Total expenses                3,117      3,022        2,982     3,582    12,703     3,141          0.8%

Material expenses              1,070      1,111        1,150     1,414     4,745     1,144         6.9%
Staff costs                    1,825      1,678        1,596     1,806     6,905     1,750        -4.1%
Net other operating              150        159          158       263       730       171        14.0%
Depreciation                      72         74           78        99       323        76         5.6%

Reported EBIT                   389        243          259       227     1,118       373         -4.1%

  Margin in %                  11.1%       7.4%         8.0%      6.0%      8.1%     10.6%
Non recurring items               -2         -2           0        -30       -34         0               -


Underlying EBIT                 391        245          259       257      1,152      373         -4.6%

  Margin in %                  11.2%       7.5%         8.0%      6.7%      8.3%     10.6%
Operating cash flow
                                  -8       267          297       561      1,117      -145       > 100%
after changes in WC

CAPEX                              84       114          101       146       445         48      -42.9%
Capex/depreciation            116.7%     154.1%       129.5%    147.5%    137.8%     63.2%

# Employees (average FTE)    145,760    145,501      146,135   146,365   146,365   143,980



                                                                                               Deutsche Post DHL
IR Package Q1 2011                                                                              Investor Relations
Released on May 10th, 2011                                                                                       7
Mail volumes



in m pieces                  Q1 2010    Q2 2010    Q3 2010    Q4 2010    FY 2010    Q1 2011      yoy in %

Mail Communication             2,037      1,819      1,850      2,120      7,826      2,047            0.5%
 t/o business                  1,726      1,536      1,562      1,742      6,566      1,750            1.4%
 t/o retail                      311        283        288        378      1,260        297           -4.5%
per working day                 32.7       30.2       28.0       33.5       31.1       32.4              0.0


Dialogue Marketing             2,637      2,413      2,365      2,944     10,359      2,636            0.0%
 t/o adressed                  1,520      1,444      1,413      1,697      6,074      1,567            3.1%
 t/o unandressed               1,117        969        952      1,247      4,285      1,069           -4.3%
per working day                 42.4       40.0       35.8       46.5       41.1       41.7              0.0


Parcel Germany                  189        181        184        239        793        206            9.0%
 t/o business                    161        157        160        202        680        179          11.2%
 t/o retail                       28         24         24         37        113         27          -3.6%
per working day                   3.0        3.0        2.8        3.8        3.1        3.3            0.1



Global Mail                    1,577      1,629      1,302      1,497      6,005      1,089          -30.9%
                                                                                               abs chg yoy
# working days (Germany)        62.2       60.3       66.0       63.3      251.8       63.2             1.0




                                                                                        Deutsche Post DHL
IR Package Q1 2011                                                                       Investor Relations
Released on May 10th, 2011                                                                                8
Express overview




in € m                       Q1 2010    Q2 2010    Q3 2010    Q4 2010    FY 2010    Q1 2011       yoy in %

                              2,620      2,868      2,719      2,904     11,111      2,765            5.5%
Total revenues
Europe                         1,277      1,260      1,153      1,270      4,960      1,212          -5.1%
Americas                         409        484        460        478      1,831        453         10.8%
Asia Pacific                     730        880        867        897      3,374        841         15.2%
EEMEA                            279        312        299        326      1,216        301           7.9%
Consolidation/other              -75        -68        -60        -67       -270        -42         44.0%


Total expenses                2,510      2,898      2,520      2,686     10,614      2,549            1.6%
Material expenses              1,406      1,560      1,444      1,535      5,945      1,532           9.0%
Staff costs                      718        744        681        734      2,877        690          -3.9%
Net other operating              297        491        301        330      1,419        245         -17.5%
Depreciation                      89        103         94         87        373         82          -7.9%

                                                                                                    96.4%
Reported EBIT                   110        -30        199        218        497        216
  Margin in %                   4.2%      -1.0%       7.3%       7.5%       4.5%       7.8%
Non recurring items              -44       -228          5        -21       -288          0               -

                                154        198        194        239        785        216          40.3%
Underlying EBIT
  Margin in %                   5.9%       6.9%       7.1%       8.2%       7.1%       7.8%
Operating cash flow
                                 81        255        317        251        904        138          70.4%
after changes in WC
CAPEX                             41         63         48        134        286         82        100.0%
Capex/depreciation             46.1%      61.2%      51.1%     154.0%      76.7%     100.0%

# Employees (average FTE)      92,026     90,365     88,908     88,384     88,384     87,379




                                                                                         Deutsche Post DHL
IR Package Q1 2011                                                                        Investor Relations
Released on May 10th, 2011                                                                                 9
Express volumes


                                        Q1 2010   Q2 2010   Q3 2010   Q4 2010   FY 2010   Q1 2011 yoy in %
TDI Shipments per day (in '000 items)       475       495       474       517       490       512        7.8%
TDI Revenue per day (in m€)                26.3      28.2      26.1      29.0      27.4      28.5        8.4%

TDD Shipments per day (in '000 items)       628       640       624       678       643       691       10.0%
TDD Revenue per day (in m€)                 4.9       5.0       4.8       5.3       5.0       5.2        6.1%

DDD Shipments per day (in '000 items)       657       472       413       468       501       425      -35.3%
DDD Revenue per day (in m€)                 5.9       5.1       3.8       4.2       4.8       3.9      -33.9%




                                                                                             Deutsche Post DHL
IR Package Q1 2011                                                                            Investor Relations
Released on May 10th, 2011                                                                                    10
DGF overview




in € m                       Q1 2010    Q2 2010    Q3 2010    Q4 2010    FY 2010    Q1 2011    yoy in %

Total revenues                 3,117      3,611      3,715      3,898    14,341       3,581      14.9%

Revenues Global Forwarding     2,276      2,716      2,819      2,914    10,725       2,632     15.6%
  t/o Airfreight               1,169      1,367      1,395      1,500      5,431      1,345     15.1%
  t/o Oceanfreight               703        853        965        925      3,446        877     24.8%
  t/o others                     404        496        459        489      1,848        410       1.5%

Revenues Freight                867        922        928       1,018      3,735       981      13.1%

Consolidation                    -26        -27        -32        -34       -119        -32     -23.1%


Total gross profit              738        837        820        894      3,289        820      11.1%
  t/o Airfreight                223        265        258        298       1,044       259      16.1%
  t/o Oceanfreight              124        142        153        157         576       150      21.0%
  t/o others                    152        180        170        176         678       162        6.6%
  t/o Freight                   239        250        239        263         991       249        4.2%


Total expenses                3,064      3,512      3,615      3,767     13,958      3,512      14.6%
Material expenses              2,575      2,987      3,094      3,235     11,891      2,951     14.6%
Staff costs                      411        453        432        454      1,750        447       8.8%
Net other operating               54         47         65         53        219         89     64.8%
Depreciation                      24         25         24         25         98         25       4.2%


Reported EBIT                    53         99        100        131        383         69      30.2%

  t/o Forwarding                 57         90         88        119        354         69      21.1%
  t/o Freight                      -4         9         12         12        29           0           -
Margin in %                     1.7%       2.7%       2.7%       3.4%       2.7%       1.9%
Non recurring items               -1         -3         -2         -1         -7          0

                                 54        102        102        132        390         69      27.8%
Underlying EBIT
  Margin in %                   1.7%       2.8%       2.7%       3.4%       2.7%       1.9%
Operating cash flow
                                 -10        15         98        141        244        116            -
after changes in WC
CAPEX                             18         19         31         34        102         21     16.7%
Capex/depreciation             75.0%      76.0%     129.2%     136.0%     104.1%      84.0%

# Employees (average FTE)      41,081     41,178     41,454     41,729     41,729     42,347

                                                                                                          Deutsche Post DHL
IR Package Q1 2011                                                                                         Investor Relations
Released on May 10th, 2011                                                                                                 11
DGF Volumes



                                                           Q1 2010        Q2 2010     Q3 2010   Q4 2010   FY 2010   Q1 2011    yoy in %
Ocean Freight (in '000s TEU)                                   637              694      716       681     2,728       648          1.7%
  GP/TEU                                                    194.7 €        204.6 €    213.7 €   230.5 €   211.1 €   231.5 €        18.9%
Air Freight (in '000s tonnes)                                1,037          1,093      1,120     1,185     4,435     1,087          4.8%
  t/o Export                                                   581            603        618       656      2,458      596          2.6%
  GP/Ton Export                                             383.8 €        439.5 €    417.5 €   454.3 €   424.7 €   434.6 €        13.2%

Ocean Freight TEU's have been restated as announced in the annual report 2010




                                                                                                                       Deutsche Post DHL
IR Package Q1 2011                                                                                                      Investor Relations
Released on May 10th, 2011                                                                                                              12
Supply Chain overview



                                 restated
in € m                       Q1 2010        Q2 2010    Q3 2010    Q4 2010    FY 2010    Q1 2011 yoy in %
                              3,044          3,304      3,385      3,568     13,301       3,273        7.5%
Total revenues
Americas                        839            978        999        996       3,812        916        9.2%

Asia Pacific                    250            274        297        307       1,128        295       18.0%

EMEA                           1,974          2,075      2,110      2,292      8,451      2,088        5.8%

Consolidation/other              -19            -23        -21        -27        -90        -26      -36.8%


                              2,988          3,251      3,304      3,525     13,068       3,195        6.9%
Total expenses
Material expenses              1,757          1,922      1,994      2,210      7,883      1,935       10.1%

Staff costs                    1,002          1,050      1,065      1,077      4,194      1,016        1.4%

Net other operating             158            204        171        160         693        168        6.3%

Depreciation                      71             75         74         78        298         76        7.0%

                                 56             53         81         43        233          78       39.3%
Reported EBIT
  Margin in %                   1.8%           1.6%       2.4%       1.2%       1.8%        2.4%

Non recurring items                -7            -17         -1        -16        -41          0           -


                                  63             70         82         59       274           78      23.8%
Underlying EBIT
  Margin in %                   2.1%           2.1%       2.4%       1.7%       2.1%        2.4%

Operating cash flow
                                  45            -22       136        109         268         53       17.8%
after changes in WC
CAPEX                             35             47         52         81         215         60      71.4%
Capex/depreciation             49.3%          62.7%      70.3%     103.8%      72.1%       78.9%


# Employees (average FTE)     130,147        129,944    130,547    131,032    131,032    132,159


Additional information
New business wins in € m       240 €          260 €      200 €      400 €     1,100 €      320 €



                                                                                           Deutsche Post DHL
IR Package Q1 2011                                                                          Investor Relations
Released on May 10th, 2011                                                                                  13
Supply Chain Sector overview




Revenue by sector              Q1 2010   Q2 2010   Q3 2010   Q4 2010   Q1 2011
Retail                           26.0%     26.0%     26.0%     27.0%      27.0%
Consumer                         19.0%     20.0%     21.0%     20.0%      20.0%
Life Science & Healthcare        15.0%     16.0%     16.0%     17.0%      17.0%
Technology                       14.0%     13.0%     13.0%     13.0%      12.0%
Automotive                        7.0%      7.0%      7.0%      7.0%       7.0%
Energy                            3.0%      4.0%      3.0%      3.0%       2.0%
Williams Lea                     10.0%     10.0%      9.0%      8.0%       8.0%
Others                            6.0%      6.0%      5.0%      5.0%       7.0%


Business wins by sector        Q1 2010   Q2 2010   Q3 2010   Q4 2010   Q1 2011
Retail                           20.0%     44.0%     26.0%     19.0%      50.0%
Consumer                         25.0%     31.0%     21.0%     31.0%      19.0%
Life Science & Healthcare        22.0%      4.0%     18.0%     11.0%      11.0%
Technology                       13.0%     11.0%     16.0%     11.0%       9.0%
Automotive                       14.0%      3.0%     11.0%     12.0%       7.0%
Energy                            3.0%      2.0%      2.0%      6.0%       1.0%
Others                            3.0%      6.0%      6.0%     10.0%       3.0%




                                                                       Deutsche Post DHL
IR Package Q1 2011                                                      Investor Relations
Released on May 10th, 2011                                                              14
Financial result



                                                2010                        2011
    in €m                          Q1     Q2           Q3     Q4      FY           Q1       yoy in %


    Net income from associates     34     24           31    -33      56           58        70.6%

    t/o Postbank-related            34     24          31     -37     52           58        70.6%
    Net other finance cost /
    net other financial income   1,294   -166      -253       58     933       -219                -

    t/o Postbank-related         1,414    -46      -123      272    1,517      -114                -

    t/o not Postbank-related      -120   -120      -130      -214    -584      -105         -12.5%
    Total net finance cost /
    net financial income         1,328   -142      -222       25     989       -161                -

    t/o Postbank-related         1,448    -22          -92   235    1,569          -56             -

    t/o not Postbank-related      -120   -120      -130      -210    -580      -105         -12.5%




                                                                                   Deutsche Post DHL
IR Package Q1 2011                                                                  Investor Relations
Released on May 10th, 2011                                                                          15
CAPEX



in € m                       Q1 2010   Q2 2010   Q3 2010   Q4 2010   FY 2010   Q1 2011     yoy in %



Group                           195       286       282       499     1,262       252        29.2%

Mail                             84       114       101       146       445        48       -42.9%

Express                          41        63        48       134       286        82       100.0%

Global Forwarding, Freight       18        19        31        34       102        21        16.7%

Supply Chain                     35        47        52        81       215        60        71.4%

CC/others                        17        43        50       104       214        41       > 100%




                                                                                  Deutsche Post DHL
IR Package Q1 2011                                                                 Investor Relations
Released on May 10th, 2011                                                                         16
Net debt



                                                                                                    March        June    September   December              March
                                                                                                     2010        2010         2010       2010               2011

            +         Non-current financial liabilities                         €m                    6,735      6,701       6,401       6,275               2,054

            +         Current financial liabilities                             €m                      682       786          853        747                4,831

           Financial liabilities                                                €m                    7,417      7,487       7,254      7,022               6,885

             -        Cash and cash equivalents                                 €m                    2,696      2,065       3,130       3,415               2,943

             -        Current financial assets                                  €m                    1,916      1,671         733        655                3,115

             -        Long-term deposits1)                                      €m                      120       120          120        120                     0

             -        Positive fair value of non-current financial derivatives 1) €m                  2,261      2,284       2,195       2,531                 125

       -   Financial assets                                                     €m                    6,993      6,140       6,178      6,721               6,183

             -        Financial liabilities to Williams Lea                     €m                          24     27           26         28                   28
                      minority shareholders2)

             -        Mandatory exchangeable bond - Postbank deal2)             €m                    2,701      2,732       2,764       2,796               2,827

             -        Cash collateral put options - Postbank deal2)             €m                    1,211      1,223       1,235       1,248               1,260

            +         Net valuation of financial derivatives - Postbank deal3) €m                     2,102      2,100       2,021       2,389               2,329

     +/-   Adjustments of non-cash relevant items                               €m                    1,834      1,882       2,004      1,683               1,786

   = Net debt (+)/ Net liquidity (-)                                            €m                   -1,410       -535        -928      -1,382              -1,084


   1) Listed on the balance sheet under non-current financial assets.
   2) Listed on the balance sheet under non-current/current financial liabilities.
   3) Listed on the balance sheet under current and non-current/current financial liabilities and assets.




                                                                                                                                                 Deutsche Post DHL
IR Package Q1 2011                                                                                                                                Investor Relations
Released on May 10th, 2011                                                                                                                                        17
FFO to Debt




    Standard & Poor's (S&P)
                                                                                   1 Jan. 2009   1 Apr. 2009- 1 July 2009-  1 Oct. 2009 1 Jan. 2010 - 1 Apr. 2010 -
    Funds from Operations to Debt actuals                                         31 Dec. 2009 31 March 2010 30 June 2010 30 Sept. 2010 31 Dec.2010 31 March 2011


    OCF before changes in working capital (as reported)                    €m             763          1,220         1,648         1,897       2,109              2,296

 + Interest and dividends received (as reported)                           €m             103             89           66            65           59                 56

 - Interest paid (as reported)                                             €m             291            253          198           186          183                178

 + Adjustment for operating lease (S&P)                                    €m            1,081         1,081         1,081         1,081       1,055              1,055

 + Adjustment for pensions (S&P)                                           €m             153            153          153           153          198                198

+/- Non-recurring items (as reported)                                      €m            1,415         1,179          955           713          531                387

 = Funds from Operations (S&P)                                             €m           3,225          3,470        3,705         3,724        3,769             3,814
    Reported financial liabilities                                         €m            7,439         7,417         7,487         7,254       7,022              6,885

 - Financial liabilities related to the sale of Postbank (as reported)     €m            3,990         4,032         4,075         4,119       4,164              4,207

 - Financial liabilities recognized at fair value through profit or loss (as €m           141            104          137           145          115                122
   reported)

 + Adjustment for operating lease (S&P)                                    €m            4,932         4,932         4,932         4,932       5,527              5,527

 + Adjustment for pensions (S&P)                                           €m            5,221         5,221         5,221         5,221       5,323              5,323

 - Surplus cash and near cash investments (S&P)                            €m            3,864         3,533         2,583         2,683       2,893              2,463


 = Debt (S&P)                                                              €m           9,598          9,902       10,845        10,461       10,700            10,942

 = FFO/ Debt (S&P)                                                                      33.6%         35.0%         34.2%         35.6%       35.2%             34.9%




                                                                                                                                                       Deutsche Post DHL
IR Package Q1 2011                                                                                                                                      Investor Relations
Released on May 10th, 2011                                                                                                                                              18
Restructuring Charges




P&L Impact                   Q1 2010   Q2 2010   Q3 2010   Q4 2010   FY 2010         Q1 2011


Group                           -54      -250         2       -68      -370                 0

Mail                             -2        -2         0       -30       -34                 0

Express                         -44      -228         5       -21      -288                 0

Global Forwarding, Freight       -1        -3        -2        -1        -7                 0

Supply Chain                     -7       -17        -1       -16       -41                 0




Cash Flow Impact               -227      -381       -76      -110      -794               -60




                                                                              Deutsche Post DHL
IR Package Q1 2011                                                             Investor Relations
Released on May 10th, 2011                                                                     19

								
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