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            january 20, 2019

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DHL Q1 sales slip to US$17.4 billion because of unit sale


Deutsche Post DHL Group's first quarter 2018 revenues dropped to EUR14.7 billion (US$17.445 billion) from EUR14.9 billion the previous year due to the sale of UK supply chain subsidiary Williams Lea Tag and negative currency adjustments, according to Shipping Gazette.
Removing currency and portfolio effects from the equation and DP-DHL's first quarter revenue rose 6.4 per cent, while EBIT was up 2.3 per cent to EUR905 million.
The global forwarding, division continued its turnaround in the first quarter with revenue up by 1.3 per cent to EUR3.6 billion. Adjusted for negative currency effects the improvement was 7.2 per cent, London's Air Cargo News reported.
Said DP-DHL: "The division was increasingly able to pass on higher freight market rates to its customers. At the same time, the additional measures introduced to raise profitability are proving effective. The division's EBIT therefore increased by a considerable 75 per cent to EUR70 million."
Revenue in the post-e-commerce parcel division rose 1.7 per cent to EUR4.6 billion in the first quarter.
Express revenue grew 4.9 per cent to EUR3.8 billion. Adjusted for currency effects, the increase was 13.2 per cent on the back of 9.6 per cent volume growth increase in the international time-definite (TDI) delivery business, where daily volumes rose.
The supply chain division saw first quarter revenue of EUR3.1 billion in the first quarter, down from EUR3.5 billion in the same period 2017. In addition to negative currency effects, the revenue decline reflects the sale of UK subsidiary Williams Lea Tag in the fourth quarter of 2017. After adjusting for those factors, the division's revenue rose 3.8 per cent.
Operating profit dropped to EUR55 million, down from EUR99 million in 2017 on account of the one-time effects. Adding on the "deconsolidation" of Williams Lea Tag, the operating profit reflects negative one-off effects of EUR50 million from customer contracts.
DP-DHL Group chief executive Frank Appel said: "Overall, we had a good start to the year, although we still have a lot of work ahead of us. Global e-commerce continues to boom, meaning that the most important growth driver for our businesses is still intact. We remain confident that we will achieve our ambitious goals for 2018 and beyond."

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