DHL 2005 Annual Report Download - page 58
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development was also positively impacted by the takeover of KarstadtQuelle AG’s depart-
ment store logistics as of April 1, 2005. Revenue beneted from positive overall eects
from acquisitions amounting to €294 million. e positive eect from currencies amount-
ed to €136 million, due in particular to the relatively stable US dollar exchange rate com-
pared to the previous year.
Aer the acquisition of Exel we renamed the business divisions in LOGISTICS at the turn
of the year, as shown on page 40. Exel is not yet included in the revenue and earnings
development in 2005 presented below.
e DHL Global Forwarding Business Division exceeded its revenue and earnings targets
in 2005. All three business areas achieved substantial increases, as shown in the following
table. A rise in revenue of 14.7% to €5,723 million (previous year: €4,990 million) reects
sustained organic growth. As expected, Asia made an above-average contribution to this
– in particular China, Hong Kong, South Korea and Singapore.
DHL Global Forwarding: revenue by area 2004 2005 +/– %
€m
Air freight 2,594 2,925 12.8
Ocean freight 1,630 1,883 15.5
Projects/other 766 915 19.5
Total 4,990 5,723 14.7
e increase in air freight revenue is the result of higher volumes and higher fuel surcharges,
which led to an increase in prices even though rates remained stable overall. Ocean freight
recorded increases in transport volumes in particular. Freight rates including security and
fuel surcharges increased slightly. e development in volumes is shown in the table below.
We achieved signicant growth in logistics value-added services, which we report under
Projects/other. We generated additional business from new and existing customers alike.
DHL Global Forwarding: volumes 2004 2005 +/– %
thousands
Air freight Tonnage 2,200 2,380 8.2
Ocean freight TEU1) 1,120 1,240 10.7
e DHL Exel Supply Chain Business Division also recorded organic growth, improving
revenue by 24.2% over the prior year to €2,239 million (previous year: €1,803 million).
e highest increase in revenue came from the fast-moving consumer goods and tex-
tiles/fashion sectors, mainly due to the successful integration of KarstadtQuelle’s logistics
business. Our activities for the telecommunications industry suered from the eects of
changes to customer contracts, but this was more than oset by new business.
DHL Exel Supply Chain: revenue by sector
€m 2004 2005 +/– %
Automotive 87 81 –6.9
Pharma/healthcare 66 60 –9.1
Electronics/telecommunications 738 851 15.3
Fast-moving consumer goods 615 750 22.0
Textiles/fashion 241 418 73.4
Other 56 79 41.1
Total 1,803 2,239 24.2
1) Twenty-foot equivalent units
Disclosures relating to the first-time consolidation
of Exel and the resulting effects can be found in
item 3 in the “Notes” section.
Annual Report 2005
54