Latvian post privatisation attracts Deutsche Post

[TrueBlueTerrier]

http://zephyr.bvdep.com/version-2010610 ... ewsid=8109" onclick="window.open(this.href);return false;

German postal operator Deutsche Post is interested in acquiring its Latvian equivalent Latvijas Pasts, according to press speculation.

Baltic Business Daily reported the possible deal, suggesting Deutsche Post would buy the company from the Latvian government and is interested in other postal operators in the Baltic region.

It gave no suggestion of how much Latvijas Pasts might fetch in a sale and recent financial results are not available.

The group generated LVL 51.89 million (USD 102.37 million) in 2008 revenue after an annual increase of 15.8 per cent (FY 2007: LVL 44.80 million).

It delivers private and business mail throughout its domestic market, as well as offering courier and e-commerce services.

Bonn-based Deutsche Post is looking to expand in high-growth regions and segments as western postal markets stagnate and decline.

Last year group sales fell for the second successive period, slipping 15.6 per cent to EUR 47.60 billion from EUR 56.37 billion in 2008 (FY 2007: EUR 65.10 billion).

The figure was Deutsche Post’s lowest annual revenue result since it recorded EUR 45.75 billion in 2005.

However, the firm did manage to turn a EUR 1.69 billion net loss into EUR 644.00 million profit, while earnings before interest, tax, depreciation and amortisation remained stable (FY 2009: EUR 2.05 billion; FY 2008: EUR 2.04 billion).

In August the group confirmed it will acquire domestic online advertising business nugg.ad – the first purchase it has announced since 2008.

© Zephus Ltd