German Post Reports Record Results in 2000

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The German Post Office turned in record results at home and abroad in 2000 despite a fine and censure from the European Commission for illegal rebates and predatory pricing.


The company reported $32.7 billion euros ($29 billion) in sales, up 46 percent over 1999. It earned 29 percent of that amount outside of Germany. Profits jumped 158 percent to 2.38 billion euros ($2.1 billion).


CEO Klaus zum Winkel told a press conference at the CeBIT computer show in Hanover that last year's results demonstrated the company's "dynamic development into a global player. They show that we're on the right track to becoming the top global player in logistics."


Sales growth was largely due to acquisitions, Deutsche Post said in a statement. The company went on a $6 billion buying binge in the late '90s that netted global freight forwarder Danzas and AEI in the United States.


Logistics, bundled around Danzas, added 8.3 billion euros to total sales and 113 million euros to profits. Financial services also contributed heavily -- 8 billion euros in turnover, up 178 percent, and 505 million euros in profits, up 771 percent.


Deutsche Post moved strongly into e-business, claiming to account for 46 percent of e-commerce fulfillment in Germany with 30 million parcels sent to German online buyers.


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