Tuesday, March 9, 2010

Deutsche Bahn DHL Announce Profits For Last Year

Cost Cutting Exercise Turns Around Results
Shipping News Feature

GERMANY – Post and logistics giant Deutsche Post DHL has announced that despite the recession and making a loss for the 2008 financial year due to a drop of over 15% in turnover, the group has returned to profitability in 2009 with a full-year consolidated net profit of 644 million euros.

The company attributes this to strict cost management and the introduction of their ‘IndEx’ program. This generated cost savings of 1.1 billion euros and has apparently been completed a year ahead of schedule.

Deutsche Post DHL state that their EBIT (Earnings Before Interest and Taxes) last year reached 1.47 billion euros, greater than their November forecast of 1.35 billion.

Speaking of the good financial results Frank Appel, Chief Executive Officer of Deutsche Post DHL said that: "We have successfully managed the repercussions of the economic crisis and exceeded our targets for 2009.

"Thanks to strict cost management and the consistent implementation of our Strategy 2015, we are now able to benefit overproportionally from the accelerating global economic recovery."

For this year the Group is predicting a “moderate recovery in global transport volumes.” Appel continued that: "We are optimistic about the future, even though many uncertainties remain about the strength of the economic recovery as well as about political and regulatory issues.

"We will move ahead as planned this year and sustainably improve the Group's profitability with innovative products, high service levels and the ongoing development of customer-oriented solutions."

(pic: © Deutsche Bahn DHL)