Deutsche Post AG maintains a variety of relationships with the Federal Republic of Germany and other companies controlled by the Federal Republic of Germany.
55 Related party disclosures
Deutsche Post DHL applied the partial exemption from disclosure provided by the revised IAS 24 for government-related entities early as at 31 December 2010.
55.1 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, see Note 60, together with information on the equity interest held, their equity and their net profit or loss for the period, broken down by geographical areas.
The federal government is a customer of Deutsche Post AG and as such uses the company’s services. Deutsche Post AG has direct business relationships with the individual public authorities and other government agencies as independent individual customers. The services provided for these customers are insignificant in respect of Deutsche Post AG’s overall revenue.
RELATIONSHIPS WITH KFW BANKENGRUPPE
KfW Bankengruppe (KfW) supports the federal government in continuing to privatise companies such as Deutsche Post AG or Deutsche Telekom AG. In 1997, KfW, together with the federal government, developed a “placeholder model” as a tool to privatise government-owned companies. Under this model, the federal government sells all or part of its investments to KfW with the aim of fully privatising these state-owned companies. On this basis, KfW has purchased shares of Deutsche Post AG from the federal government in several stages since 1997 and executed various capital market transactions using these shares. KfW’s current interest in Deutsche Post AG’s share capital is 30.5%.
RELATIONSHIPS WITH THE BUNDESANSTALT FÜR POST UND TELEKOMMUNIKATION
The Bundesanstalt für Post und Telekommunikation e.V. (BAnstPT) is a government agency and falls under the technical and legal supervision of the German Federal Ministry of Finance. Under the Bundesanstalt-Reorganisationsgesetz (German federal agency reorganisation act), which entered into force on 1 December 2005, the Federal Republic of Germany directly undertakes the tasks relating to holdings in postal service successor companies through the Federal Ministry of Finance. It is therefore no longer necessary for the BAnstPT to perform the “tasks associated with ownership”.
The BAnstPT manages the social facilities such as the Postal Civil Service Health Insurance Fund, the recreation programme, the Versorgungsanstalt der Deutschen Bundespost (VAP) and the welfare service for Deutsche Post AG, Deutsche Postbank AG and Deutsche Telekom AG, as well as setting the objectives for social housing. The tasks are performed on the basis of agency agreements. In 2010, Deutsche Post AG was invoiced for €72 million (previous year: €68 million) in instalment payments relating to services provided by the BAnstPT.
