- Income Statement
- Balance Sheet
- Cash Flow Statement
- Statement of Changes in Equity
- Segment Reporting
- Notes
- Basis of accounting
- Income Statement Disclosures
- Balance Sheet Disclosures
- Cash Flow Disclosures
- Other Disclosures
- 51 Financial instruments
- 52 Contingent liabilities
- 53 Other financial obligations
- 54 Litigation
- 55 Share-based remuneration
- 56 Related-party disclosures
- 57 Significant subsidiaries, joint ventures and associates
- 58 Auditors' fees
- 59 Making use of Section 264 (3) HGB
- 60 Declaration of Conformity with the German Corporate Governance Code
- 61 Significant events after the balance sheet date
- 62 Miscellaneous
- 63 Additional information
- Responsibility Statement
- Auditor's Report
56 Related-party disclosures
56.1 Related-party disclosures (companies and Federal Republic of Germany)
All companies classified as related parties that are controlled by the Group or on which the Group can exercise significant influence are recorded in the list of shareholdings together with information on the equity interest held, their equity and their net profit or loss for the period, broken down by division. The list of shareholdings is filed with the commercial register of the Bonn Local Court.
Deutsche Post AG and Deutsche Postbank AG have a variety of relationships with the Federal Republic of Germany and other companies controlled by the Federal Republic of Germany.
The federal government is a customer of Deutsche Post AG and as such uses the company’s services. Deutsche Post AG’s business relationships are entered into with the individual public authorities and other government agencies as independent individual customers. The services provided to the respective individual customers are immaterial to the overall revenue of Deutsche Post AG.
Relationships with the Bundesanstalt für Post und Telekommunikation (BAnstPT)
The Federal Republic of Germany manages its interest in Deutsche Post AG and exercises its shareholder rights via the Bundesanstalt für Post und Telekommunikation (“Bundesanstalt”) which has legal capacity and falls under the supervision of the German Federal Ministry of Finance. The Gesetz über die Errichtung einer Bundesanstalt für Post und Telekommunikation or Bundesanstalt Post Gesetz (BAnstG – German act to establish a Deutsche Bundespost Federal Posts and Telecommunications Agency or Federal Posts and Telecommunications Agency act) transferred specific legal rights and duties to the Bundesanstalt that relate to matters jointly affecting Deutsche Post AG, Deutsche Postbank AG and Deutsche Telekom AG. In addition, the Bundesanstalt manages the Postal Civil Service Health Insurance Fund, the recreation programme, the Versorgungsanstalt der Deutsche Bundespost (“VAP”) and the welfare service for Deutsche Post AG, Deutsche Postbank AG, Deutsche Telekom AG and the Bundesanstalt. The coordination and administration tasks are performed on the basis of agency agreements. In 2008, Deutsche Post AG was invoiced for €64 million (previous year: €65 million) in instalment payments relating to services provided by the Bundesanstalt, and Deutsche Postbank AG was invoiced for €8 million (previous year: €4 million).
Relationships with the German Federal Ministry of Finance
In financial year 2001, the Bundesministerium der Finanzen (BMF – German Federal Ministry of Finance) and Deutsche Post AG entered into an agreement that governs the terms and conditions of the transfer of income received by Deutsche Post AG from the levying of the settlement payment under the Gesetze über den Abbau der Fehlsubventionierung im Wohnungswesen (German acts on the reduction of misdirected housing subsidies) relating to housing benefits granted by Deutsche Post. In financial year 2008, Deutsche Post AG paid to the federal government the aggregate amount of approximately €0.68 million for financial year 2007 and around €0.60 million in monthly instalments relating to financial year 2008. As agreed, the final settlement for financial year 2008 will be made by 1 July 2009.
Deutsche Post AG also entered into an agreement with the BMF dated 30 January 2004 relating to the transfer of civil servants to German federal authorities. Under this agreement, civil servants are seconded with the aim of transferring them initially for six months, and are then transferred permanently if they successfully complete their probation. Once a permanent transfer is completed, Deutsche Post AG contributes to the cost incurred by the federal government by paying a flat fee. In 2008, this initiative resulted in six permanent transfers (previous year: 33) and two secondments with the aim of a permanent transfer (previous year: 2).
Relationships with Deutsche Telekom AG and its subsidiaries
In financial year 2008, the Group provided goods and services for Deutsche Telekom AG amounting to €0.35 billion (previous year: €0.4 billion). These were mainly transportation services for letters and parcels. In the same period, the Group purchased goods and services (including IT products and services) worth €0.4 billion (previous year: €0.4 billion) from Deutsche Telekom. Deutsche Telekom AG and Deutsche Postbank AG have also entered into a master loan agreement for €0.6 billion (previous year: €0.6 billion). In 2008, Deutsche Telekom AG had an issue of two loan notes placed by Deutsche Postbank International S.A. Luxembourg for €50 million each and a term to maturity of 6 years each.
Bundes-Pensions-Service für Post und Telekommunikation e. V.
Information on the Bundes-Pensions-Service für Post- und Telekommunikation e. V. can be found in Note 7.
Deutsche Post Pensionsfonds GmbH & Co. KG
The real estate, with a fair value of €1,041 million (previous year: €1,040 million), of which Deutsche Post Betriebsrenten Service e. V. (DPRS), Deutsche Post Pensionsfonds GmbH & Co. KG, Deutsche Post Betriebsrenten-Service e. V. & Co. Objekt Gronau KG and Deutsche Post Grundstücks Vermietungsgesellschaft beta mbH Objekt Leipzig KG are the legal or beneficial owners, is exclusively let to Deutsche Post Immobilien GmbH. Rental expense for Deutsche Post Immobilien GmbH amounted to €58.0 million in 2008 (previous year: €56.4 million). The rent was always paid on time. Therefore no expense was incurred for valuation allowances on receivables and for bad debt losses in 2008 and none is expected to be incurred in future years. There were no sales relationships between external authorities and a Group company of Deutsche Post AG in 2008.
Relationships with unconsolidated companies and associates
In addition to the consolidated subsidiaries, the Group has direct and indirect relationships with a large number of unconsolidated subsidiaries and associates deemed to be related parties to the Group, in the course of its ordinary business activities. In the course of these activities, all transactions for the provision of goods and services entered into with unconsolidated companies were conducted on an arm’s length basis at standard market terms and conditions. Transactions were conducted in financial year 2008 with major related parties, resulting in the following items in the consolidated financial statements:
Print page
Save as PDF
Add to my cart