DHL 2011 Annual Report Download - page 77

Per-day shipment volumes in the  product line increased by .  in  com-
pared with the prior year, with fourth-quarter growth amounting to . .
Business in the  region improves steadily
Despite the challenges due to the political unrest in the Middle East, our revenue
in the  region (Eastern Europe, the Middle East and Africa) rose by .  to
, million, up from , million in the previous year.  is  gure contains nega-
tive currency e ects of  million. Excluding these e ects, growth amounted to . .
Daily shipment volumes increased on the prior year in all product lines.
 reaches a record high
 for the  division rose from  million in  to  million in
the reporting year, its highest level to date. Return on sales also increased signi cantly,
growing from .  to . .  e fact that we achieved higher revenues and volumes in
all regions and focused keenly on international express services made a major contribu-
tion to this improvement.  e previous year’s  had been impacted by restructuring
costs in the amount of  million, mainly due to the disposals in France and the .
 for the fourth quarter of  improved from  million to  million year-
on-year, with return on sales amounting to .  (previous year: . ). In the fourth
quarter of , earnings had been impacted by restructuring costs of  million.
Due to higher income, lower cash out ows for restructuring and strict working
capital management, operating cash  ow amounted to , million in the year under
review (previous year:  million). In the fourth quarter, operating cash  ow grew
signi cantly from  million to  million.
Deutsche Post DHL Annual Report 
Group Management Report
Divisions
 division
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