The companywas incorporated in 2000, and is located in Palm Beach Gardens, FL. For moreinformation, visit AuthentiumRed Herring:Yvonne Caprini, +1 (650) 428 2900 orAuthentium:Kate Ritchie, 610-642-8253 ext. Copyright Business Wire 2009. * CEO says no M&A plans, no bid for Royal Mail Stocks * Says will reach 1 bln eur cost cuts sooner than planned * Says Q1 underlying EBIT down 42.1 pct at 312 mln eur * Says to reorganise Express, Mail divisions * Shares up 1.6 pct in line with German blue chips(Adds CEO comments on M&A) By Maria Sheahan FRANKFURT, May 6 (Reuters) - Deutsche Post DHL (DPWGn.DE)aims to cut its cost base further and focus on organic growth towin market share from rivals such as United Parcel Service(UPS.N) and FedEx (FDX.N), its chief executive said. "There is no interest in new adventures just because we havecash," Frank Appel said at its annual Capital Markets Day onWednesday after quarterly operating profit at Europe's biggestmail and express delivery group beat expectations.
Deutsche Post has pocketed more than 4 billion euros in cashfrom a deal to sell its unit Deutsche Postbank (DPBGn.DE) toDeutsche Bank (DBKGn.DE), eradicating its net debt. But Appel said Deutsche Post had not submitted a bid forBritain's Royal Mail [GBPO.UL], for which the government thereis seeking an investor, and brushed off speculation Post may beinterested in Austria's Oesterreichische Post (POST.VI). "Our international foreign domestic business is not verysuccessful. Cross-border is successful, and in foreign domesticwe are much more cautious than we were before," he said. Reuters had reported on Monday that Post had not bid forRoyal Mail, citing people close to the matter. Shares in Deutsche Post rose 1.6 percent to 9.969 euros by1249 GMT, in line with Germany's blue-chip index .GDAXI.
For now, Post said it would focus on cutting costs in itsMail and Express divisions and may reach its target of cuttingcosts by 1 billion euros ($1.34 billion) sooner than planned. "Deutsche Post DHL still managed to surprise positively withvery good progress in cost savings and a further upgrade inrestructuring measures," Commerzbank analyst Frank Skodzik said. UNION TALKS Deutsche Post said it aimed to negotiate longer workinghours at the Mail division, try to postpone wage increases andshift some air mail to ground transportation to add around 300million euros to annual earnings before tax and interest (EBIT). "The further cost initiatives in the Mail business arepositive in general, but from our point of view the outcome ofthe discussions (between the company and the union) are uncleardue to the strong position of the unions in Germany," said DZBank analyst Robert Czerwensky. In the first quarter, underlying EBIT fell 42 percent to 312million euros, better than the 290 million euro average analystestimate in a Reuters poll.