DHL 2008 Annual Report Download - page 68
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Deutsche Post World Net Annual Report 2008
Growth continues in the Asia Pacifi c region
Revenue in the Asia Paci c region increased by . to , million (previous
year: , million). Changes in the euro exchange rate gave rise to negative currency
e ects in the amount of million. Although the rate of growth in the region slowed
mainly in the second half of , we posted organic revenue growth of . . Domestic
shipment volumes continued to rise in this region.
Double-digit revenue growth in the emerging markets
In the region (Eastern Europe, the Middle East and Africa), revenue
increased by . to , million (previous year: , million). is translates into
organic growth of . a er factoring in the negative currency e ects of million.
Once again, we achieved the highest growth rates in all of our product lines in the
Middle East and Russia.
Realignment of US business impacts earnings
declined by , million in , from – million in the previous
year to – , million. e drop in was mainly due to restructuring activities,
which led to non-recurring expenses of , million. Most of these expenses were
related to the realignment of our business, which accounted for , million of
non-recurring expenses. Losses in the continued to rise in . Outside the ,
our earnings from operating activities and a er adjustment for restructuring costs
were satisfactory. e e ect of a declining economy was mainly felt in the last quarter
of . e unfavourable economic trend led to lower volumes, which we were able
to o set by implementing several cost reduction initiatives. Operating cash ow, which
includes the cash out ow for restructuring activities and the losses from the busi-
ness, fell from , million to million.
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