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DHL's Forwarding and Freight division results hit by challenging business environment

March 12 -In Deutsche Post DHL's (DPDHL) 2013 results, announced earlier today, the companies Global Forwarding and Freight division was highlighted as the weaker performer in what was largely a successful year for the group.

"In a business environment that remains challenging," revenues in the division decreased by 5.3 percent last year to EUR14.8 billion (USD20.51 billion) (2012: EUR 15.7 billion/USD21.76 billion). Adjusted for negative exchange-rate effects, the decrease was a little more than 2 percent, the company stated, compared to adjusted revenue growth of more than 4 percent in the group's Express division and nearly 6 percent in its Supply Chain division.

The company revealed that volume and revenues in air freight fell below the previous year's level primarily because of weakened demand from several large customers in the technology, engineering and manufacturing sectors.

Ocean freight volume and revenues also decreased and the main reason for this development was lower demand in the Americas and Europe regions. Demand rose on intra-Asian and North-South routes.

DPDHL said that a selective market strategy and continued strict cost controls enabled the division to maintain its operating margin despite the decline in revenues and increased investments in the transformation of its IT infrastructure. Nevertheless, the division's EBIT fell to EUR 483 million (USD669.4 million) (2012: EUR 514 million/USD712.35 million).

Overall DPDHL, posted revenues of more than EUR55 billion (USD76.22 billion) for 2013 down by 0.8 percent on 2012 due to "negative exchange-rate and other inorganic effects".

Adjusted for these factors, however, revenues rose by nearly 3 percent.

Consolidated net profit reached EUR2.1 billion (USD2.91 billion) during the past year, an increase of more than EUR450 million (USD623.65 million) compared to 2012.

 

www.dpdhl.com

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