DHL 2003 Annual Report Download - page 72
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Revenue for this Corporate Division increased by €61 million to €5,878 million
in 2003 (previous year: €5,817 million). Both Business Divisions drove growth,
and DHL Solutions developed particularly well. We recorded exchange rate losses of
€366 million in the LOGISTICS Corporate Division, although these were more than
counteracted by the growth in business.
Revenue increased by 3.5% to €1,640 million in the DHL Solutions Business
Division (previous year: €1,584 million). The increase was a result of acquisitions
on the one hand, and growth that we generated particularly in the electronics/tele-
communication sector on the other.
Revenue increased by €13 million to €4,246 million in the DHL Danzas Air
& Ocean Business Division in the year under review. In air freight, the amount trans-
ported rose by 3.0% due to acquisitions; freight rates increased slightly compared with
the previous year. In ocean freight, transport volumes recorded double digit growth;
in addition, freight rates rose sharply, in particular on routes from the Asia/Pacific
region.
The profit from operating activities before goodwill amortization (EBITA)
for the entire Corporate Division rose to €206 million (previous year: €173 million),
an increase of 19.1%. The prior-period amount was restated, as we reclassified interest
cost on provisions for pensions and other interest-bearing provisions from EBITA to
net finance costs, and activities from the former Eurocargo Business Unit are now
reported in the EXPRESS Corporate Division. The earnings growth is largely due to
successful cost management in Germany and Scandinavia in the DHL Solutions Busi-
ness Division. Operating performance was also up on the previous year in the DHL
Danzas Air & Ocean Business Division. However, it suffered greatly from foreign
exchange losses.
The return on sales rose to 3.5% (previous year: 3.0%). We therefore met our
target of achieving a figure in excess of 3.2% in the year under review.
in €m 2002 2003 Change
in %
DHL Solutions 1,584 1,640 3.5
DHL Danzas Air & Ocean 4,233 4,246 0.3
Reconciliation – 8
Total 5,817 5,878 1.0
Revenue by Business Division
in €m 2002 2003 Change
in %
Automotive 93 80 –14.0
Pharma/healthcare 72 71 –1.4
Electronics/telecommunications 563 618 9.8
Fast moving consumer goods 551 575 4.4
Textiles/fashion 235 239 1.7
Other 70 57 –18.6
Total 1,584 1,640 3.5
DHL Solutions: revenue by sector