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Set against a background of strong free cash flow generation
In light of the Deutsche Post DHL Group’s strong free cash flow performance in 2015 and the expected improvement of its operating performance, the Management Board and the Supervisory Board have announced the initiation of a share buy-back programme.
The share buyback programme starting in March 2016 is restricted to a duration of one year and a notional amount of up to €1.0 billion. The execution of the share buyback is based on the authorisation of the AGM on May 27th, 2014. The purchased shares will either be cancelled, used to service long term management incentive programmes or to meet possible obligations arising from valid exercises under the convertible bond 2012 / 2019.
Deutsche Post DHL Group will keep the capital market informed about the progress of the share buyback programme on its web site.
The decision to initiate a share buyback programme is in line with the group's corporate finance policy and is to be seen against the background of the strong free cash flow generation amounting to €1.7 billion for 2015, meeting the EBIT guidance for 2015 and the reconfirmation of the targets for 2016 and 2020.