Deutsche Post aims to be global No.1 in parcel delivery by 2020
FRANKFURT May 27 (Reuters) - Deutsche Post is aiming for a global expansion of its Germany-based parcel delivery business and wants to become world No. 1 by 2020, Chief Executive Frank Appel said on Tuesday.
The world's biggest postal and logistics company unveiled medium-term financial goals last month, forecasting annual operating profit to rise by an average of more than 8 percent through 2020 - due in large part to expansion of its logistics business.
Appel told an annual shareholders meeting on Tuesday that Deutsche Post wanted to apply the German parcel strategy in other countries in Europe, Asia and the Americas.
"We intend to remain the number one in Germany and expand our position. We also intend to become the global number one in this business by 2020," Appel told the shareholders.
Deutsche Post, which holds a 42 percent market share in Germany's 8.2 billion euros ($11.2 billion) parcel delivery market, competes with DPD, majority owned by France's La Poste ; Hermes, owned by Germany's Otto group; United Parcel Service ; FedEx ; and General Logistics System of Britain's Royal Mail Group.
Deutsche Post makes about three-quarters of revenues from its DHL logistics units - comprising express courier, forwarding and supply chain. The rest comes from its mail and parcel division, which is benefiting from growth in e-commerce.
($1 = 0.7325 Euros) (Reporting by Marilyn Gerlach; Editing by Mark Potter)