Earnings

Changes in reporting and portfolio

We reported Postbank’s activities as discontinued operations until it was sold at the end of February 2009. We report our other business activities as continuing operations.

Consistent with international practice and to improve the clarity of presentation, we no longer report the return on plan assets in connection with pension obligations as part of EBIT but under net finance costs/net financial income. In order to increase the transparency of financial assets and liabilities in accordance with IAS 39, we have revised our chart of accounts and changed the financial statement presentation. The prior-year amounts have been adjusted accordingly.

In the reporting year, the main changes to our portfolio were as follows:

• Effective 6 February 2009, we increased our stake in Selekt Mail Nederland C.V., a Dutch company, from 51% to 100%.
• We sold the French company DHL Global Mail Services SAS in June.
• In July, DHL Sinotrans International Air Courier Ltd. – of which we hold a 51% share – acquired Shanghai Quanyi Express Co. Ltd. The company has been fully consolidated since then.
• At the end of December, we sold DHL Container Logistics UK Ltd.

Due to the deconsolidation of Postbank, which is now accounted for using the equity method, we no longer prepare additional consolidated financial statements including the Deutsche Postbank Group on an equity-accounted basis.