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MarketScreener Homepage  >  Equities  >  Xetra  >  Deutsche Post AG    DPW   DE0005552004

DEUTSCHE POST AG

(DPW)
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Deutsche Post : Electric Van Unit to Enter Chinese Market in JV With Chery

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09/06/2019 | 01:59am EDT

By Max Bernhard

Deutsche Post AG (DPW.XE) said Friday that its subsidiary StreetScooter, which makes electric vans and trucks, is entering the Chinese market.

StreetScooter and China's state-owned Chery Holding Group signed a memorandum of understanding for a joint venture to locally produce, source and develop last-mile electric light commercial vehicles for the Chinese market, the German postal service said.

The car maker plans to enter mass production in 2021 targeting production capacities of up to 100,000 vehicles per year.

The deal is part of an economic agreement reached during German Chancellor Angela Merkel's trip to China, Deutsche Post, which is partially state-owned, said.

Deutsche Post acquired StreetScooter in 2014. According to media reports, Deutsche Post decided to develop an electric delivery vehicle itself after initial attempts to have one developed by a car maker failed.

Write to Max Bernhard at max.bernhard@dowjones.com; @mxbernhard

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Financials (EUR)
Sales 2019 63 845 M
EBIT 2019 4 147 M
Net income 2019 2 663 M
Debt 2019 13 555 M
Yield 2019 3,89%
P/E ratio 2019 14,3x
P/E ratio 2020 12,5x
EV / Sales2019 0,81x
EV / Sales2020 0,77x
Capitalization 37 942 M
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 34,67  €
Last Close Price 30,76  €
Spread / Highest target 49,5%
Spread / Average Target 12,7%
Spread / Lowest Target -17,6%
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Managers
NameTitle
Frank Appel CEO & Head-Global Business Services
Nikolaus von Bomhard Chairman-Supervisory Board
Melanie Kreis Head-Finance
Kenneth Allen Director
Werner Gatzer Independent Member-Supervisory Board
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