Earnings, Financial Position and Assets and Liabilities

The Group’s economic position

Overall assessment by the Board of Management

The global economic recovery continued in the first half of 2010. As a globally operating logistics service provider, Deutsche Post DHL benefited noticeably from this recovery: revenue and earnings were up considerably compared with the prior year. The restructuring measures initiated last year have led to higher margins and increased profitability across all divisions. Following on these improvements, operating cash flow was also up year-on-year. As a result, our financial position continues to be very solid.