Deutsche Post World Net closed the 2005 fiscal year very successfully. Consolidated revenue rose by 3.3% to €44,594 million and profit from operating activities (EBIT) increased by 25.1% to €3,755 million. We thus even slightly exceeded the earnings forecast of at least €3.7 billion confirmed by the Board of Management in December.

Although the express business in the Americas region grew in terms of shipment volumes, revenue and EBIT, in overall terms it fell short of our expectations. Consolidated earnings contain a write-down of goodwill for the EXPRESS Americas region of €434 million. This is offset by non-recurring earnings resulting from changes in statutory regulations relating to the Postal Civil Service Health Insurance Fund.

The corporate divisions developed as follows:

• As expected, with EBIT of €2,030 million, MAIL matched the high levels generated the previous year. The predicted decline in domestic mail was more than offset by strong growth in the international mail business.
• EXPRESS generated EBIT of €11 million. This represents a fall of 90.6% compared to the prior-year figure of €117 million. Earnings contain the write-down of goodwill of €434 million in the Americas region mentioned above. Excluding the effects of this write-down, earnings fell short of our expectations of around €500 million.
• LOGISTICS continued to develop positively. EBIT amounted to €315 million, a significant increase of 73.1% on the prior-year figure of €182 million.
• FINANCIAL SERVICES also continued its positive trend. EBIT totaled €790 million, a rise of 10.6% compared to the prior-year figure of €714 million.

Consolidated net profit excluding minorities increased by 40.0% to €2,235 million. Earnings per share increased accordingly from €1.44 to €1.99.