Announcing storm-damaged figures and government plundering of its profits that left nothing over for investment, Deutsche Bundespost Telekom yesterday said that following its move to set up its cellular operations as a separate company as a first step to privatisation, it was also considering privatising the unit it has created to look after large customers. The unit in question, for what Telekom calls Systems Customers, is part of its Business Customers division, and was established as part of the thorough restructuring Telekom has set in train; it serves 500 major companies and organisations, and its business is growing at 13% to 14% a year, against less than 5% overall growth from private customers in 1992. Among the arguments that had to be considered in connection with any privatisation was that the Systems division would have to compete immediately in a very competitive field, unlike the mobile business, which is still developing. Bundespost Telekom says that operating profit in 1992 fell 4.6% to the equivalent of $4,157m; after Telekom has made its required subvention to the federal government and its two loss-making sister units, it will be left with nothing to add to reserves – it is required by law to transfer 10 pct of its annual turnover to the federal government and to make up for losses at the Postdienst mail service and Postbank postal banking unit, Reuter notes. Turnover in 1992 rose 11% to $32,095m, and is forecast to grow 6.7% this year.
