Deutsche Post DHL Group has seen profits increase by 29.1 per cent to 639 million euros ($728.4 million) despite revenue falling due to negative currency effects and lower fuel surcharges.
Revenue fell by 6.1 per cent to 13.8 billion euros with Global Forwarding and Supply Chain seeing the biggest revenue falls. Global Forwarding saw revenue fall by 12.2 per cent to 3.3 billion euros and Supply Chain was down by 13.9 per cent to 3.4 billion euros. Revenue for Post was up by 2.4 per cent to 4.2 billion euros and Express saw an increase of 0.3 per cent to 3.2 billion euros.
Deutsche Post DHL Group chief executive officer, Frank Appel says: “We’ve had a good start to the current year. With an EBIT [earnings before interest and tax] of 873 million euros we have registered the strongest first quarter in our company history.”
“The efforts we made in 2015 to position ourselves for profitable growth in all divisions are paying off. Last year was a year of transition, and we are now firmly on track to achieve our targets for 2016.”
EBIT increased by 21.3 per cent to 873 million euros, with Post seeing a 3.3 per cent increase to 412 million euros and DHL up 32.8 per cent to 534 million euros. Express EBIT was up 7.5 per cent, and Global Forwarding and Supply Chain both more than doubled to 51 million euros and 127 million euros, respectively.