What we achieved in the first quarter of 2009:
We sold shares of Deutsche Postbank, as planned, to Deutsche Bank, and we exited the domestic US express business. Despite significant restructuring costs, reported Group EBIT was slightly positive. We made further progress with our cost reduction initiatives in order to soften the sharp impact of the economic crisis. We launched our Strategy 2015 and set a new course for Deutsche Post DHL.
What we intend to achieve by the end of 2009:
Our goal is to safely navigate the economic crisis and to emerge a stronger market leader. To mitigate adverse effects from materially lower business volumes, we plan to make fewer investments and, in a Group-wide cost-cutting drive, lower indirect costs by €1 billion by 2010. Particularly in times of economic crisis it is critical that we continue to strengthen our already healthy financial capabilities.