DHL 2011 Annual Report Download - page 53

 e acquisition of the   interest in Eurodifarm srl., Lodi, Italy, was completed in
the middle of May . As part of the   division, the company specialises
in the temperature-controlled distribution of pharmaceutical and diagnostic products.
On  June , we acquired all the shares of Standard Forwarding , East Moline,
.  is acquisition expands our freight business capacities in the Freight business unit.
 Express Canada sold its domestic business to the transport company Trans-
Force at the end of June and is now focusing on international express services in Canada.
In the middle of July, we acquired Tag EquityCo Limited, Cayman Islands, together
with its subsidiaries.  e Tag Group is an international provider of marketing execution
and production services.  e company has been assigned to the Williams Lea business
unit. We expect to achieve synergies and economies of scale through the combined
service o ering.
Due to a change in the legal framework in China, we sold our domestic express
business to the Chinese company Unitop Industry, Shenzhen, in the third quarter.
In the  division, we adjusted our method of reporting revenues and materials
expense in the Williams Lea business unit at the end of . Discounts granted to cus-
tomers are no longer recognised under materials expense but are consistently deducted
from revenues.  e prior-year  gures were adjusted.
As at  July, we transferred the Home Delivery business in Germany from the 
 division to the  division.  e signi cant synergies between this delivery
service and the German parcel business will allow us to cultivate the market in this
sector more intensively.
Consolidated revenue up . 
In  nancial year , consolidated revenue rose  , million or .  year-on-
year to  , million.  e share of consolidated revenue generated abroad increased
from .  to .  despite negative currency e ects of   million.  e changes in
the portfolio reduced revenue by   million. Without these e ects, revenue would
have increased by . .
In the fourth quarter, revenue rose .  to  , million (previous year:
 , million). It was impacted by negative currency e ects of   million and port-
folio changes amounting to   million.
Other operating income declined by . , from  , million to  , million in
the year under review.  e higher  gure last year was largely attributable to the reversal
of provisions recognised for restructuring.
. Consolidated revenue
 m
2011
52,829
16,743 36,086
2010
51,388
16,434 34,954
Germany Abroad
Deutsche Post DHL Annual Report 
Group Management Report
Economic Position
Earnings
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