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            february 18, 2019

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SIL 2019

LKW Walter

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Deutsche Post DHL quarterly profit falls 14.3pc as revenues rise 1.4pc


Germany's Deutsche Post DHL Group's (DP DHLG) second quarter operating profit declined 14.3 per cent to EUR16 million (US$598.1 million), drawn on revenues of EUR15 billion, up 1.4 per cent.
Group revenue for the first half remained at the prior-year level, coming in at EUR29.8 billion, versus EUR29.7 billion in 2017.
"The second-quarter results were in line with expectations. Our three DHL divisions - Express, Global Forwarding, Freight and Supply Chain - performed well," said Group CEO Frank Appel.
"We are clear about the challenges that face us at Post-eCommerce-Parcel (PeP) and are implementing the measures for aligning the division toward long-term profitable growth.
"The booming e-commerce business remains the primary growth driver for our German and international parcel businesses - here we continue to see tremendous potential for profitable future growth," he said.
"In the last years, we have worked hard to expand our leading position in the competitive German parcel market.
"In the next market development phase, we will focus more closely on our prices and costs in both the Post and Parcel businesses in order to translate the volume development into steadily rising earnings."
The group again made "targeted investments" during the second quarter, to further strengthen its foundation for long-term profitable growth, including the June 2018 order for 14 new Boeing 777 freighter aircraft.
The upward trend was once again driven by "solid growth in the international time-definite (TDI) delivery business, where daily volumes rose by 8.4 per cent compared with the prior-year period".
The division succeeded in growing operating profit by 10.2 per cent to EUR517 million on the back of strict yield management and continuous improvements in the network. The operating margin improved to a record level of 12.8 per cent (2017: 12.5 per cent).
The Global Forwarding, Freight division "maintained the positive trend" of previous quarters during the second quarter of 2018.
Divisional revenue was up by 2.5 per cent to EUR3.7 billion, "despite having taken a more selective approach with regard to the profitability of certain contracts." Adjusted for negative currency effects, revenue improved by an even more substantial six per cent.
At the same time, the division was "better able to pass on higher freight market rates" to its customers than in the first quarter.
"The measures introduced to improve cost efficiency are also proving effective. As a result, operating profit at Global Forwarding, Freight rose significantly by 56.7 per cent to EUR105 million."

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