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"Solid" 2014 performance from Deutsche Post DHL

BONN: Deutsche Post DHL (DPDHL) has reported a 3.1 percent increased in 2014 revenue to €56.6 billion and a net profit of €2.07 billion, a one percent decline from the previous year. Operating profit (EBIT) rose 3.5 percent year-on-year to €2.96 billion.

The group's express division showed the greatest gains with a 5.7 percent rise in revenue to €12.49 billion and a 16.3 percent increase in EBIT to €1.26 billion compared to the previous year.

Post-eCommerce-Parcel (PeP) revenue remained the largest business sector for DPDHL producing revenue of €15.68 billion in 2014 – a year-on-year rise of 2.6 percent. The EBIT figure was less than one percent higher than the previous 12 months at €1.3 billion.

DHL logistics"Despite a still challenging environment we delivered a solid performance in 2014 by building on our strong market position in e-Commerce and emerging markets," said group CEO Frank Appel.

Global forwarding revenue rose less than one percent to €14.92 billion while the EBIT result fell 38.7 percent year-on-year to €293 million. Commenting on the drop, Appel said rate and margin pressure remained high throughout the forwarding industry and the company's transformation program 'New Forwarding Environment' (NFE) not only required a lot of money but also management time to implement. While he expected the result to give DHL a competitive edge in the mid-term, the continued cost of NFE change "will again weight on earnings in 2015".

DPDHL is forecasting operating profits in the €3.05-€3.2 billion range in 2015, with PeP contributing at least €1.3 billion and DHL an additional €2.1-€2.25 billion during the year. By the end of 2016, the group expects an operating profit of €3.4-€3.7 billion.

Looking to prospects in 2015 Appel added: "Our overall business environment is unlikely to change very much this year. The political uncertainties we face seem to be increasing, and the global economy will only see moderate growth...The leading growth drivers in our business are - and will remain - the booming e-Commerce business and the dynamic growth of emerging markets. We are better positioned to take advantage of both megatrends than any other company in our industry."

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