Earnings, Financial Position and Assets and Liabilities

The Group’s economic position

Overall assessment by the Board of Management

The global economy continued to recover in the third quarter of 2010, enabling Deutsche Post DHL to generate significant improvements in almost all divisions in the financial year to date. Increased revenues and improved profitability coupled in some cases with significantly higher margins led to impressive earnings growth. Operating cash flow also profited from this, improving considerably. Our financial position is very solid thanks to the significant liquidity we have maintained.