Review/Preview

What we achieved in the first quarter

We significantly increased our earnings on the back of the continued recovery of the global economy. Last year’s restructuring and cost-cutting measures are now starting to pay off: margins improved year-on-year in nearly all of our divisions. We maintained our financial stability at a high level and also achieved a solid operating cash flow.

What we intend to achieve by the end of the year

Provided that there is a moderate recovery in trade volumes, we continue to expect consolidated EBIT before non-recurring items to reach €1.6 billion to €1.9 billion in 2010. We now assume that we will be able to close the year as a whole at the upper end of this range. Deutsche Post and DHL should contribute nearly equally to this result. Our liquidity will remain strong despite restructuring expenses. Consolidated net profit is expected to continue to improve in line with our operating business.