Deutsche Post DHL: Significant decline in Global Forwarding
Cost-cutting measures and efficiency increases pay off for post and logistics group Deutsche Post DHL "We have successfully managed the crisis", CEO Frank Appel expressed his delight about the good performance of Deutsche Post DHL in 2009 at the balance press conference. With a strict cost-cutting program and efficiency increases the globally operating post and logistics group exceeded its targets. Underlying EBIT amounted to EUR 1.47 billion. Following a loss in the previous year, the consolidated net profit reached EUR 644 million. Due to a significant decrease in transport volumes turnover dropped 15.2 per cent to EUR 46.2 billion. In its Express division the group shows revenues of EUR 10.3 billion (down 24.4 per cent) in the 2009 annual report, and an underlying EBIT of EUR 238 million. In the Global Forwarding, Freight division there is a positive trend in the form of increasing transport volumes particularly in the areas of life sciences and consumer goods. In the reporting period revenues DHL achieved in this segment were EUR 10.9 billion (down 23.3 per cent), as a consequence of the decline in freight volumes, lower fuel surcharges and reduced freight rates. The underlying EBIT decreased from EUR 403 million in 2008 to EUR 272 million. The enterprise was able to maintain or even expand its market share in the international air and ocean freight markets and in European road transport. In the Supply Chain division DHL was able to further expand its market position in 2009 thanks to new business contracts. Nonetheless, revenues fell by 8.8 per cent to EUR 12.5 billion. This decrease resulted from substantial negative currency translation effects and the company’s decision to decline renewal of underperforming contracts. The underlying EBIT was minus EUR 121 million. “This loss was exclusively related to charges totalling EUR 213 million that were connected with the insolvency of Arcandor“, Deutsche Post DHL states calmingly. Quelle: Österreichische Verkehrszeitung |