Group management

EBIT after asset charge as additional control parameter

In 2008, Deutsche Post DHL introduced a new performance metric, which it uses to assess the degree of target achievement. In the year under review, EBIT after asset charge (EAC) was used as an additional key control parameter together with profit from operating activities (EBIT).

We aim for sustained value growth in all areas of our operating business. To this end, we carefully control not only targeted profits but also the use of resources necessary to meet this goal. Executives are now expected to place greater emphasis on the asset charge that their operating business must generate.

To calculate the asset charge, the net asset base is multiplied by the weighted average cost of capital (WACC).

The Group’s WACC is defined as the weighted average net cost of interest-bearing liabilities and equity, taking into account division-specific risk factors in a beta factor according to the Capital Asset Pricing Model. Deutsche Post DHL aims to increase enterprise value via efficient management of the net asset base.