DHL 2003 Annual Report Download - page 58
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Please find page 58 of the 2003 DHL annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Change in Gross Domestic Product (GDP) and exports in 2003
in %
3.1 1.9 2.2
9.5 9.1
34.6
0.4 0.4
USA China Euro zone1)
– 0.1 1.1
GermanyJapan1)
GDP
Exports
1) Based on estimates as of mid-February 2004
Source: Postbank research
54
In the Chinese growth market, we acquired an interest in Sinotrans Ltd. In Europe,
we expanded our parcel network with the acquisition of the Italian company, Casa di
Spedizioni Ascoli S.p.A.
These acquisitions, coupled with our operational strengths, meant that we
were able to withstand the negative effects of the price reductions imposed, and again
reported positive business developments. We increased overall revenue by 1.9% to
€40,017 million. The proportion of revenue generated abroad rose again, from 41.2%
to 43.2%. The profit from operating activities before goodwill amortization (EBITA)
also rose slightly year-on-year to €2,975 million.
Consolidated net profit increased to €1,309 million after being impacted in the
previous year by the provision that we had to recognize for the European Commission’s
ruling on state aid. Earnings per share improved accordingly, doubling from €0.59 in
the previous year to €1.18.
We intend to let our shareholders share in this positive development, and plan
distributing a dividend of €0.44 per share or €490 million in total, equivalent to a
10% year-on-year increase.
Economic Environment
Global economy recovered slightly in H2
The global economy experienced a weak start to 2003. The Iraq war paralyzed eco-
nomic activity by sharply curtailing investment and consumer spending. However,
the global economy recovered after the end of the war and picked up further during
the course of the year. In total, global trade rose by approximately 4% in the year
under review.
The USA was the first of the large industrialized nations to recover. Private
consumption and capital spending increased sharply again here in the second half
of the year. US exports, too, saw a trend reversal in the course of the year, as they
benefited increasingly from the economic recovery and the weak dollar.