DHL 2008 Annual Report Download - page 72
Download and view the complete annual report
Please find page 72 of the 2008 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.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62 -
63 -
64 -
65 -
66 -
67 -
68 -
69 -
70 -
71 -
72 -
73 -
74 -
75 -
76 -
77 -
78 -
79 -
80 -
81 -
82 -
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
 |
 |
Deutsche Post World Net Annual Report 2008
Global Forwarding: revenue by segment
€ m
2007 2008 + / – % Q 4 2007 Q 4 2008 + / – %
Air freight 4,809 5,388 12.0 1,268 1,341 5.8
Ocean freight 3,014 3,418 13.4 810 924 14.1
Other 1,587 1,779 12.1 444 479 7.9
Total 9,410 10,585 12.5 2,522 2,744 8.8
Global Forwarding: volumes
thousands
2007 2008 + / – % Q 4 2007 Q 4 2008 + / – %
Air freight Tonnage 4,409 4,291 − 2.7 1,203 1,007 – 16.3
Ocean freight TEU1) 2,764 2,882 4.3 873 754 – 13.6
1) Twenty-foot equivalent units.
Market growth in the ocean freight business also su ered from a very weak
fourth quarter. We estimate the market to have grown by only to in the year
under review. However, we outperformed the market on the whole with growth of .
despite a fourth-quarter volume decline of . . anks to a favour able trend in freight
rates, revenue rose by . in . We increased revenues in Latin America, North
Asia and Europe in particular.
Our industrial projects business, which we have been focussing on for two years,
made another above-average contribution to growth, especially in Asia, North America,
the Middle East and Africa.
European overland transport business performs stably
e Freight Business Unit reported revenue of , million for the year as
a whole (previous year: , million) and organic growth of . compared with
the previous year. e business performed well in the Benelux countries, in Eastern
Europe and in Germany. Gross pro t amounted to million, around the same as
in the prior year.
EBIT before non-recurring items rises 6 %
Division declined to million from million in the previous year.
e gure for includes restructuring provisions amounting to more than mil-
lion. Additionally, adjusted for negative currency e ects of nearly million as well as
acqui sitions, the business performed well with earnings growth of . anks to our
e ective cost management, we held our ground well in a di cult and volatile market
environment. Return on sales (excluding restructuring provisions) remained stable
compared with the previous year at .
Operating cash ow amounted to million (previous year: million).
e gure greatly increased because we are consistently implementing our Roadmap
to Value initiatives. Working capital and the cash conversion rate both improved. e
cash conversion rate measures the proportion of operating earnings that are con verted
to cash ow.
Calculation of cash conversion rate
Operating cash flow
EBIT
Cash conversion rate
68