DHL 2013 Annual Report Download - page 72

Our industrial project business (in table , reported as part of Other) saw weaker
performance in the reporting year compared with the prior year. Discontinuing the
unprotable part of our ship charter business in China in  resulted in a drop in
revenue; however, this could be partially oset by the addition of new protable business.
e share of revenue related to industrial project business and reported under Other
was .  and therefore almost on a par with the previous year . . Gross prot
improved by a double-digit percentage compared with the prior year.
. Global Forwarding: revenue
 m
2012 2013 + / – % Q 4 2012 Q 4 2013 + / – %
Air freight 5,517 4,968 –10.0 1,397 1,315 – 5.9
Ocean freight 3,738 3,532 – 5.5 921 848 –7.9
Other 2,349 2,227 – 5.2 624 568 – 9.0
Total 11,604 10,727 –7.6 2,942 2,731 –7.2
. Global Forwarding: volumes
thousands
2012 2013 + / – % Q 4 2012 Q 4 2013 + / – %
Air freight tonnes 4,147 3,949 – 4.8 1,070 1,046 –2.2
of which exports tonnes 2,327 2,215 – 4.8 606 591 –2.5
Ocean freight  s 1 2,840 2,807 –1.2 701 707 0.9
1 Twenty-foot equivalent units.
Slight revenue growth in European overland transport business
In the Freight business unit, revenue was up by .  to , million in 
(previous year: , million). In addition to the eect of one additional working day,
business grew primarily in Germany, Eastern Europe, the Benelux countries and France.
Despite continuing pressure on margins in the highly competitive European transport
market, gross prot was , million in the reporting year and thus on a par with the
prior year’s gure of , million.
 includes higher expenses for 
 in the division was  million and therefore .  below the prior-year level
(adjusted:  million). Whilst gross prot margins declined, eciency increased and
the relationship between gross margin and  improved. As in the previous year,
earnings included expenses for the  project, which, as expected, were higher than
in . Return on sales was .  as in the previous year.
In the fourth quarter of ,  fell year-on-year by .  to  million.
Net working capital was reduced considerably year-on-year, thanks to strict
cash management, leading to an operating cash ow of  million (previous year:
 million).
68 Deutsche Post DHL 2013 Annual Report
Report on Economic Position
Business performance in the divisions
Group Management Report