Obbligazione Deutscher Postdienst 0.375% ( XS1388661651 ) in EUR

Emittente Deutscher Postdienst
Prezzo di mercato 100 EUR  ▼ 
Paese  Germania
Codice isin  XS1388661651 ( in EUR )
Tasso d'interesse 0.375% per anno ( pagato 1 volta l'anno)
Scadenza 01/04/2021 - Obbligazione è scaduto



Prospetto opuscolo dell'obbligazione Deutsche Post XS1388661651 in EUR 0.375%, scaduta


Importo minimo 1 000 EUR
Importo totale 750 000 000 EUR
Descrizione dettagliata Deutsche Post DHL Group è una società di servizi postali e logistici tedesca, leader mondiale nel settore.

The Obbligazione issued by Deutscher Postdienst ( Germany ) , in EUR, with the ISIN code XS1388661651, pays a coupon of 0.375% per year.
The coupons are paid 1 time per year and the Obbligazione maturity is 01/04/2021







Base Prospectus
4 September 2018
This document constitutes two base prospectuses: (i) the base prospectus of Deutsche Post AG in respect of non-equity securities
within the meaning of article 22 No. 6 (4) of the Commission Regulation (EC) No. 809/2004 of 29 April 2004, as amended ("Non-
Equity Securities") with a denomination of at least EUR 1,000 and (ii) the base prospectus of Deutsche Post Finance B.V. in
respect of Non-Equity Securities with a denomination of at least EUR 1,000 (together, the "Debt Issuance Programme Prospectus"
or the "Prospectus").
Deutsche Post AG
(Bonn, Federal Republic of Germany)
as Issuer and, in respect of Notes issued by
Deutsche Post Finance B.V., as Guarantor
Deutsche Post Finance B.V.
(Maastricht, The Netherlands)
as Issuer
EUR 8,000,000,000
Debt Issuance Programme
(the "Programme")
Application has been made to the Luxembourg Commission de Surveillance du Secteur Financier (the "CSSF"),
which is the Luxembourg competent authority for the purpose of Directive 2003/71/EC, as amended from time
to time (the "Prospectus Directive"), for its approval of this Prospectus.
Application has been made to list notes issued under the Programme (the "Notes") on the official list of the
Luxembourg Stock Exchange and to trade Notes on the regulated market "Bourse de Luxembourg". The
Luxembourg Stock Exchange's regulated market (the "Regulated Market") is a regulated market for the
purposes of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in
financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU ("MiFID II"). Notes issued
under the Programme may also be listed on an alternative stock exchange or may not be listed at all.
Each Issuer has requested the CSSF in its capacity as competent authority under the Luxembourg act relating
to prospectuses for securities (Loi du 10 juillet 2005 relative aux prospectus pour valeurs mobilières), as
amended, which implements the Prospectus Directive into Luxembourg law (the "Luxembourg Law") to
provide the competent authorities in the Federal Republic of Germany, the Republic of Austria, The Netherlands
and the United Kingdom with a certificate of approval attesting that the Prospectus has been drawn up in
accordance with the Luxembourg Law ("Notification"). Each Issuer may request the CSSF to provide
competent authorities in additional Member States within the European Economic Area with a Notification.
Arranger
Deutsche Bank
Dealers
BofA Merrill Lynch Commerzbank Deutsche Bank HSBC Morgan Stanley
This Prospectus will be published in electronic form on the website of the Luxembourg Stock Exchange
(www.bourse.lu) as well as on the website of Deutsche Post DHL Group (www.dpdhl.com). This Prospectus is
valid for a period of twelve months from the date of its approval.


RESPONSIBILITY STATEMENT
Deutsche Post AG ("Deutsche Post", "Deutsche Post AG" or the "Guarantor", together with its consolidated
group companies, "Deutsche Post DHL Group") with its registered office in Bonn, Federal Republic of
Germany and Deutsche Post Finance B.V. ("Deutsche Post Finance") with its registered office in Maastricht,
The Netherlands (herein each also called an "Issuer" and together the "Issuers") accept responsibility for the
information given in this Prospectus.
Each Issuer hereby declares that, having taken all reasonable care to ensure that such is the case, the
information contained in this Prospectus for which it is responsible is, to the best of its knowledge, in
accordance with the facts and contains no omission likely to affect its import.
By approving this Prospectus, the CSSF gives no undertaking as to the economic and financial soundness of
the transactions under the Programme and the quality or solvency of the Issuers in line with the provisions of
article 7 (7) of the Luxembourg Law.
This Prospectus should be read and understood in conjunction with any supplement hereto and with any other
documents incorporated herein by reference and, in relation to any tranche of Notes (each a "Tranche"),
together with the relevant final terms (the "Final Terms"). Full information on the Issuers and any Tranche is
only available on the basis of the combination of the Prospectus and the relevant Final Terms.
NOTICE
Each Issuer has confirmed to the Dealers (as defined herein) that this Prospectus contains all information with
regard to the Issuers and the Notes which is material in the context of the Programme and the issue and
offering of Notes thereunder; that the information contained herein with respect to the Issuers and the Notes is
accurate and complete in all material respects and is not misleading; that any opinions and intentions
expressed herein are honestly held and based on reasonable assumptions; that there are no other facts with
respect to the Issuers or the Notes, the omission of which would make this Prospectus as a whole or any of
such information or the expression of any such opinions or intentions misleading; that the Issuers have made all
reasonable enquiries to ascertain all facts material for the purposes aforesaid.
This Prospectus is valid for 12 months following the date of its approval and this Prospectus and any
supplement hereto as well as any Final Terms reflect the status as of their respective dates of issue. The
delivery of this Prospectus, any supplement thereto, or any Final Terms and the offering, sale or delivery of any
Notes may not be taken as an implication that the information contained in such documents is accurate and
complete subsequent to their respective dates of issue or that there has been no adverse change in the
financial situation of the Issuers since such date or that any other information supplied in connection with the
Programme is accurate at any time subsequent to the date on which it is supplied or, if different, the date
indicated in the document containing the same.
Each Issuer and the Guarantor has undertaken with the Dealers to supplement this Prospectus in accordance
with article 13 of the Luxembourg Law or publish a new prospectus in the event of any significant new factor,
material mistake or inaccuracy relating to the information included in this Prospectus in respect of Notes issued
on the basis of this Prospectus which is capable of affecting the assessment of the Notes and which arises or is
noted between the time when this Prospectus has been approved and the closing of any Tranche offered to the
public or, as the case may be, when trading of any Tranche of Notes on a regulated market begins in respect of
Notes issued on the basis of this Prospectus.
No person has been authorised to give any information which is not contained in or not consistent with this
Prospectus or any other document entered into in relation to the Programme or any information supplied by any
Issuer or any other information in the public domain and, if given or made, such information must not be relied
upon as having been authorised by the Issuers, the Dealers or any of them.
Neither the Arranger nor any Dealer nor any other person mentioned in this Prospectus, excluding the Issuers
and the Guarantor, is responsible for the information contained in this Prospectus or any supplement hereto, or
any Final Terms or any document incorporated herein by reference, and accordingly, and to the extent
permitted by the laws of any relevant jurisdiction, none of these persons accepts any responsibility for the
accuracy and completeness of the information contained in any of these documents.
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The distribution of this Prospectus and any Final Terms and the offering, sale and delivery of Notes in certain
jurisdictions may be restricted by law. Persons into whose possession this Prospectus or any Final Terms come
are required to inform themselves about and observe any such restrictions. For a description of the restrictions
applicable in the United States of America, the European Economic Area in general, the United Kingdom, The
Netherlands, Luxembourg and Japan; see "Selling Restrictions". In particular, the Notes have not been and will
not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and
include Notes in bearer form that are subject to tax law requirements of the United States of America; subject to
certain exceptions, Notes may not be offered, sold or delivered within the United States of America or to United
States persons.
MIFID II PRODUCT GOVERNANCE / TARGET MARKET ­ The Final Terms in respect of any Notes will
include a legend entitled "MiFID II Product Governance" which will outline the target market assessment in
respect of the Notes and which channels for distribution of the Notes are appropriate. Any person subsequently
offering, selling or recommending the Notes (a "distributor") should take into consideration the target market
assessment; however, a distributor subject to MiFID II is responsible for undertaking its own target market
assessment in respect of the Notes (by either adopting or refining the target market assessment) and
determining appropriate distribution channels.
A determination will be made in relation to each issue about whether, for the purpose of the MiFID Product
Governance rules under EU Delegated Directive 2017/593 (the "MiFID Product Governance Rules"), any
Dealer subscribing for any Notes is a manufacturer in respect of such Notes, but otherwise neither the Arranger
nor the Dealers nor any of their respective affiliates will be a manufacturer for the purpose of the MiFID Product
Governance Rules. None of Deutsche Post and Deutsche Post Finance is a manufacturer or distributor for the
purposes of the MiFID Product Governance Rules.
If the Final Terms in respect of any Notes include a legend entitled "Prohibition of Sales to EEA Retail
Investors", the relevant Notes are not intended to be offered, sold or otherwise made available to and should
not be offered, sold or otherwise made available to any retail investor in the European Economic Area ("EEA").
For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in
point (11) of article 4(1) of MiFID II or (ii) a customer within the meaning of Directive 2002/92/EC (as amended,
the "Insurance Mediation Directive"), where that customer would not qualify as a professional client as
defined in point (10) of article 4(1) of MiFID II; or (iii) not a qualified investor as defined in the Prospectus
Directive. If the above mentioned legend is included in the relevant Final Terms, no key information document
required by Regulation (EU) No 1286/2014 (as amended, the "PRIIPs Regulation") for offering or selling the
Notes or otherwise making them available to retail investors in the EEA has been prepared and therefore
offering or selling the Notes or otherwise making them available to any retail investor in the EEA may be
unlawful under the PRIIPs Regulation.
The language of the Prospectus is English. Any part of this Prospectus in the German language constitutes a
translation. In respect of the issue of any Tranche of Notes under the Programme, the German text of the
Terms and Conditions may be controlling and binding if so specified in the relevant Final Terms. In respect of
the German law governed Guarantee (including the negative pledge contained therein) the German language
version is always controlling and binding.
This Prospectus may only be used for the purpose for which it has been published.
This Prospectus and any Final Terms may not be used for the purpose of an offer or solicitation by
anyone in any jurisdiction in which such offer or solicitation is not authorised or to any person to whom
it is unlawful to make such an offer or solicitation.
This Prospectus, any supplement thereto and any Final Terms do not constitute an offer or an invitation
to subscribe for or purchase any Notes.
In connection with the issue of any Tranche of Notes, the Dealer or Dealers (if any) named as
stabilisation manager(s) (or persons acting on behalf of any stabilisation manager(s)) in the applicable
Final Terms may over-allot Notes or effect transactions with a view to supporting the market price of the
Notes at a level higher than that which might otherwise prevail. However, stabilisation may not
necessarily occur. Any stabilisation action may begin on or after the date on which adequate public
disclosure of the terms of the offer of the relevant Tranche of the Notes is made and, if begun, may
cease at any time, but it must end no later than the earlier of 30 days after the Issue Date of the relevant
Tranche of Notes and 60 days after the date of the allotment of the relevant Tranche of Notes. Any
stabilisation action or over-allotment must be conducted by the relevant stabilisation manager(s) (or
persons acting on behalf of any stabilisation manager(s)) in accordance with all applicable laws and
rules.
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The Final Terms in respect of any Notes offered on the basis of this Prospectus may specify that interest
amounts payable under the relevant Notes may be calculated by reference to EURIBOR, which as at the date
of this Prospectus is provided by European Money Markets Institute ("EMMI"), or LIBOR, which as at the date of
this Prospectus is provided by ICE Benchmark Administration ("IBA"). As at the date of this Prospectus, IBA
appears whereas EMMI does not appear on the register of administrators and benchmarks established and
maintained by the European Securities and Markets Authority pursuant to article 36 of the Benchmark
Regulation (Regulation (EU) 2016/1011) (the "Benchmark Regulation"). As far as the Issuers are aware, the
transitional provisions in Article 51 of the Benchmark Regulation apply, such that EMMI is not currently required,
or may not be required at the date of the relevant Final Terms, to obtain authorisation/registration (or, if located
outside the European Union, recognition, endorsement or equivalence). The registration status of any
administrator under the Benchmark Regulation is a matter of public record and save where required by
applicable law the Issuers do not intend to update relevant Final Terms to reflect any change in the registration
status of administrator.
In this Prospectus, all references to "EUR" or "Euro" are to the currency introduced at the start of the third stage
of the European economic and monetary union, and defined in article 2 of Council Regulation (EC) No 974/98
of 3 May 1998 on the introduction of the Euro, as amended.
Tranches of Notes may be rated or unrated. Where a Tranche of Notes is rated, such rating and the respective
rating agency will be specified in the relevant Final Terms. A rating is not a recommendation to buy, sell or hold
Notes and may be subject to suspension, reduction or withdrawal at any time by the assigning rating agency.
To the extent not otherwise indicated, the information contained in this Prospectus on the market environment,
market developments, growth rates, market trends and competition in the markets in which Deutsche Post DHL
Group operates is taken from publicly available sources, including, but not limited to, third-party studies or the
Group's own estimates that are also primarily based on data or figures from publicly available sources. The
information from third-party sources that is cited here has been reproduced accurately. As far as the Issuers are
aware and are able to ascertain from information published by such third-party, no facts have been omitted
which would render the reproduced information published inaccurate or misleading.
This Prospectus also contains estimates of market data and information derived from these estimates that
would not be available from publications issued by market research firms or from any other independent
sources. This information is based on Deutsche Post DHL Group's internal estimates and, as such, may differ
from the estimates made by Deutsche Post DHL Group's competitors or from data col ected in the future by
market research firms or other independent sources. To the extent the Issuers derived or summarized the
market information contained in this Prospectus from a number of different studies, an individual study is not
cited unless the respective information can be taken from it directly.
The Issuers have not independently verified the market data and other information on which third parties have
based their studies or the external sources on which the Issuers' own estimates are based. Therefore, the
Issuers assume no responsibility for the accuracy of the information on the market environment, market
developments, growth rates, market trends and competitive situation presented in this Prospectus from third-
party studies or the accuracy of the information on which the Issuers' own estimates are based. Any statements
regarding the market environment, market developments, growth rates, market trends and competitive situation
presented in this Prospectus regarding Deutsche Post DHL Group and its operating divisions contained in this
Prospectus are based on its own estimates and/or analysis unless other sources are specified.
Any websites included in the Prospectus are for information purposes only and do not form part of the
Prospectus (except with respect to the documents incorporated by reference into this Prospectus).
FORWARD-LOOKING STATEMENTS
This Prospectus contains certain forward-looking statements. A forward-looking statement is a statement that
does not relate to historical facts and events. They are based on analyses or forecasts of future results and
estimates of amounts not yet determinable or foreseeable. These forward-looking statements are identified by
the use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may",
"plan", "predict", "project", "will" and similar terms and phrases, including references and assumptions. This
applies, in particular, to statements in this Prospectus containing information on future earning capacity, plans
and expectations regarding Deutsche Post DHL Group's business and management, its growth and profitability,
and general economic and regulatory conditions and other factors that affect it.
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Forward-looking statements in this Prospectus are based on current estimates and assumptions that the
Issuers make to the best of their present knowledge. These forward-looking statements are subject to risks,
uncertainties and other factors which could cause actual results, including Deutsche Post DHL Group's financial
condition and results of operations, to differ materially from and be worse than results that have expressly or
implicitly been assumed or described in these forward-looking statements. Deutsche Post DHL Group's
business is also subject to a number of risks and uncertainties that could cause a forward-looking statement,
estimate or prediction in this Prospectus to become inaccurate. Accordingly, investors are strongly advised to
read the following sections of this Prospectus: "Summary", "Risk Factors", "Deutsche Post AG ­ Issuer and
Guarantor ­" and "Deutsche Post Finance ­ Issuer ­". These sections include more detailed descriptions of
factors that might have an impact on Deutsche Post DHL Group's business and the markets in which it
operates.
In light of these risks, uncertainties and assumptions, future events described in this Prospectus may not occur.
In addition, neither the Issuers nor the Dealers assume any obligation, except as required by law, to update any
forward-looking statement or to conform these forward-looking statements to actual events or developments.
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TABLE OF CONTENTS
Summary ............................................................................................................................................................... 7
German translation of the Summary .................................................................................................................... 20
Risk Factors ......................................................................................................................................................... 35
Deutsche Post AG ­ Issuer and Guarantor ­ ..................................................................................................... 48
Deutsche Post Finance ­ Issuer ­ ...................................................................................................................... 64
General Description of the Programme ............................................................................................................... 68
Terms and Conditions of the Notes ..................................................................................................................... 70
Guarantee and Negative Pledge (English language version) ............................................................................ 146
Guarantee and Negative Pledge (German language version)........................................................................... 150
Form of Final Terms .......................................................................................................................................... 154
Use of Proceeds ................................................................................................................................................ 172
Taxation ............................................................................................................................................................. 173
Subscription and Sale ........................................................................................................................................ 184
General Information ........................................................................................................................................... 190
Documents Incorporated by Reference ............................................................................................................. 192
Names and Addresses ...................................................................................................................................... 195
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SUMMARY
Summaries are made up of disclosure requirements known as `Elements'. These elements are numbered in
Sections A ­ E (A.1 ­ E.7).
This Summary contains all the Elements required to be included in a summary for this type of securities and
Issuer. Because some Elements are not required to be addressed, there may be gaps in the numbering
sequence of the Elements.
Even though an Element may be required to be inserted in the summary because of the type of securities and
Issuer, it is possible that no relevant information can be given regarding the Element. In this case a short
description of the Element is included in the summary with the mention of `not applicable'.
Section A ­ Introduction and warnings
Element Description of
Disclosure requirement
Element
A.1
Warnings
Warning that:
· this Summary should be read as an introduction to the Prospectus;
· any decision to invest in the Notes should be based on consideration of
the Prospectus as a whole by the investor;
· where a claim relating to the information contained in the Prospectus is
brought before a court, the plaintiff investor might, under the national
legislation of the Member States, have to bear the costs of translating the
Prospectus, before the legal proceedings are initiated; and
· civil liability attaches only to the Issuers which have tabled the Summary
including any translation thereof, but only if the Summary is misleading,
inaccurate or inconsistent when read together with the other parts of the
Prospectus or it does not provide, when read together with the other parts
of the Prospectus, key information in order to aid investors when
considering whether to invest in the Notes.
A.2
Consent to use
[Each Dealer and/or each further financial intermediary subsequently reselling
the Prospectus
or finally placing the Notes to the extent so expressed in the Final Terms is
entitled to use the Prospectus and the Final Terms for the subsequent resale or
final placement of the Notes during the offer period. The offer period will be
from [] to [], provided however, that the Prospectus is still valid in
accordance with article 11(2) of the Luxembourg act relating to prospectuses
for securities as amended (Loi du 10 juillet 2005 relative aux prospectus pour
valeurs mobilières) which implements Directive 2003/71/EC of the European
Parliament and of the Council of 4 November 2003 (as amended inter alia by
Directive 2010/73/EU of the European Parliament and of the Council of
24 November 2010).
The Prospectus may only be delivered to potential investors together with all
supplements published before such delivery. Any supplement to the Prospectus
is available for viewing in electronic form on the website of the Luxembourg
Stock Exchange (www.bourse.lu).
When using the Prospectus and the Final Terms, each Dealer and/or relevant
further financial intermediary must make certain that it complies with all
applicable laws and regulations in force in the respective jurisdictions.
[Such consent is also subject to and given under the condition [].]
In the event of an offer being made by a Dealer and/or a further financial
intermediary, the Dealer and/or the further financial intermediary shall
provide information to investors on the terms and conditions of the Notes
at the time of that offer.]
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[Not applicable. The Issuer does not give consent to the use of the Prospectus
for the subsequent resale or final placement of the Notes to any dealer or
financial intermediary.]
Section B ­ Deutsche Post AG ­ [Issuer][Guarantor]
Element Description of
Disclosure requirement
Element
B.1
Legal and
Legal name: Deutsche Post AG
commercial
Commercial name: Deutsche Post DHL Group
name
B.2
Domicile, legal
Deutsche Post AG is a stock corporation (Aktiengesellschaft) incorporated
form,
under and governed by the laws of the Federal Republic of Germany and
legislation,
domiciled in the Federal Republic of Germany.
country of
incorporation
B.4b
Known trends
After the first six months of 2018 having elapsed, current projections still
affecting the
indicate that the global economy is expected to pick up slightly once more in
[Issuer]
2018. The International Monetary Fund continues to expect global economic
[Guarantor] and
output to grow by 3.9%. Although the International Monetary Fund raised its
the industries in forecast for growth in global trade slightly to 4.8%, the risks to that forecast
which it
have, however, become more significant. The customs tariff increases recently
operates
announced by the United States of America (and those likely to follow) and
counter-measures on the part of its trading partners have raised the likelihood
that escalating trade conflicts could turn into full-out trade wars. This could put
downward pressure on economic growth in the near term.
A number of additional political and structural risks remain, whose occurrence
could ultimately impact the economies of both emerging markets and industrial
countries. Deutsche Post DHL Group is dependent on the economic
environment and cyclical trends in the world economy and may be adversely
affected by any downturn in regional or worldwide economies, market crises as
well as prolonged periods of instability. Deutsche Post DHL Group believes that
there is a strong correlation between economic development and trade flows.
Consequently, economic downturns and phases of prolonged instability often
coincide with a decline in trade volumes.
Competition in Deutsche Post DHL Group's business is already intense and
might intensify in the future, in particular in case of targeted, aggressive actions
by competitors resulting in a loss of market share or otherwise adversely
affecting Deutsche Post DHL Group.
The increasing use of electronic forms of communication has resulted in a
shrinkage of the German mail market. Demand for mail in Germany depends on
the trend of Deutsche Post DHL Group's customers' communication channels
and the extent to which electronic media continue to replace the physical letter.
Deutsche Post DHL Group expects the market for mail communication to
continue to shrink.
A large number of Deutsche Post DHL Group's services are subject to sector-
specific regulation under the German Postal Act (Postgesetz). In particular, the
regulator approves or reviews prices, formulates the terms of downstream
access and has special supervisory powers to combat market abuse. Since
Deutsche Post operates in regulated industries, changes in regulatory controls
and associated implementation of measures to comply with regulations could
affect earnings.
B.5
Description of
Deutsche Post AG is the parent company of Deutsche Post DHL Group.
the Group and
Deutsche Post DHL Group is a world leading mail and logistics company
position of the
(according to estimates of Deutsche Post AG). Under the Deutsche Post and
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[Issuer]
DHL brands, Deutsche Post DHL Group provides an international service
[Guarantor]
portfolio consisting of letter and parcel dispatch, express delivery, freight
within the Group transport, supply chain management and e-commerce solutions. About 520,000
(as of 31 December 2017) employees in more than 220 countries and territories
form the global network of Deutsche Post DHL Group.
B.9
Profit forecast
Not applicable; no profit forecast or estimate has been included.
or estimate
B.10
Nature of any
Not applicable;
PricewaterhouseCoopers GmbH
qualifications in Wirtschaftsprüfungsgesellschaft, Moskauer Straße 19, 40227 Düsseldorf,
the audit report
Federal Republic of Germany, issued unqualified auditor's reports on the
on historical
annual consolidated financial statements of Deutsche Post AG for the financial
financial
years ending 31 December 2017 and 2016.
information
B.12
Selected
The information has been extracted from the audited consolidated financial
historical key
statements of Deutsche Post AG for the financial years ending 31 December
financial
2017 and 31 December 2016 and the unaudited condensed consolidated
information
interim financial statements of Deutsche Post AG for the interim period ending
30 June 2018.
Six-month period ending
Financial year ending
30 June
31 December
20181
2017
2017
2016
(EUR in million,
unless otherwise indicated)
(unaudited)
(audited)
Revenue
29,775
29,696
60,444
57,334
Profit/loss from operating activities
1,652
1,726
3,741
3,491
(EBIT2)
Net profit attributable to
1,116
1,235
2,713
2,639
shareholders of
Deutsche Post
Net cash from/used in operating
1,723
816
3,297
2,439
activities
Total Assets at end of period
47,392
36,590
38,672
38,295
Total equity at end of period
12,433
11,530
12,903
11,350
Employees
479,393
461,518
468,724
453,990
(full time equivalents)3
1 Effective 1 January2018, Deutsche Post DHL Group has been applying International Financial Reporting
Standard 9 (IFRS 9), 15 (IFRS 15) and 16 (IFRS 16). Since the prior-year figures were not adjusted, not all
figures for the six month period ending 30 June 2018 are comparable with prior year figures. In particular, the
initial application of IFRS 16 results, inter alia, in an increase of net cash from operating activities, total assets
and EBIT.
2 "EBIT" is calculated as revenue and other operating income minus materials expense and staff costs,
depreciation, amortisation and impairment losses as well as other operating expenses and adding net income
from investments accounted for using the equity method. Deutsche Post's board of management reports EBIT
because it helps the board of management judge the operating performance of Deutsche Post DHL Group.
EBIT is not recognized as a performance indicator under IFRS. The EBIT that Deutsche Post reports is not
necessarily comparable to the performance figures published by other companies as "EBIT" or under a similar
designation.
3 Average.
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Material adverse There has been no material adverse change in the prospects of Deutsche Post
change in the
AG since 31 December 2017.
prospects of the
[Issuer]
[Guarantor]
Significant
Not applicable; there has been no significant change in the financial or trading
change in the
position of Deutsche Post DHL Group since the date of the last published
financial and
interim report (30 June 2018).
trading position
B.13
Recent Events
Not applicable; there are no recent events since the date of the last published
interim report (30 June 2018) particular to Deutsche Post AG which are to a
material extent relevant to the solvency of Deutsche Post AG.
B.14
Please see Element B.5
Dependence
Not applicable; Deutsche Post AG is not dependent on other entities within the
upon other
group.
entities within
the Group
B.15
Principal
Deutsche Post DHL Group maintains a global network and offers everything its
activities
customers need for transporting, storing and processing goods and information,
from standard products to customised solutions. Deutsche Post DHL Group is
organised in four operating divisions: Post - eCommerce - Parcel; Express;
Global Forwarding, Freight and Supply Chain. Each of the divisions is managed
by its own divisional headquarters and is subdivided into functions, business
units or regions for reporting purposes.
To reflect the importance of state-of-the-art mobility solutions such as Deutsche
Post DHL Group's StreetScooter electric vehicles and other technological
innovations, these activities have been transferred in April 2018 from the
division Post - eCommerce ­ Parcel and combined in the new Corporate
Incubations board department. Corporate Incubations is designed to act as an
incubator for mobility solutions, digital platforms and automation. The results of
Corporate Incubations and Corporate Center/Other are now presented together
in Corporate Functions.
In the Corporate Center, Deutsche Post DHL Group centralised its
management functions. The internal services that support the entire Deutsche
Post DHL Group, including Finance Operations, Procurement and Real Estate
are mainly consolidated in its Global Business Services.
The Post - eCommerce - Parcel division is the only provider of universal postal
services in Germany. In this division, Deutsche Post DHL Group delivers
domestic and international mail and parcels and offers dialogue marketing,
nationwide press distribution services and all the electronic services associated
with mail delivery. Beside in Germany, Deutsche Post DHL Group also offers
domestic parcel services in other markets and is constantly expanding its
portfolio of cross-border parcel and goods shipping services including setting
up own delivery networks.
The Express division offers time-definite courier and express services to
business and private customers in more than 220 countries and territories, the
most comprehensive network in the world.
The Global Forwarding, Freight division handles the carriage of goods by rail,
road, air and sea. Its services extend from standardised container transport to
specialised end-to-end solutions for industrial products and solutions tailored to
specific sectors.
The Supply Chain division delivers customised logistics solutions based on
globally standardized modular components including warehousing, transport
and value-added services. Moreover, the division offers specialized Business
Process Outsourcing and marketing communications solutions tailored to
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