DHL 2014 Annual Report Download - page 72

GLOBAL FORWARDING, FREIGHT DIVISION
Freight forwarding volumes recovered slightly during the year
Revenue in the division increased by .  to , million in the reporting year
(previous year: , million). Excluding negative currency eects of  million,
revenue was .  above the previous year. Aer declining in the rst half of the year,
the freight forwarding business recovered slightly over the course of the year. In the
fourth quarter, revenue was up year-on-year by .  to , million (previous year:
, million). e fourth-quarter gure included positive currency eects of  mil-
lion. Excluding currency eects, revenue saw a .  year-on-year increase. Our rev enue
continued to be impacted by reduced prices.
In the Global Forwarding business unit, revenue in the reporting year increased
slightly by .  to , million (previous year: , million). Excluding negative
currency eects of  million, the increase was . . Gross prot declined by .  to
, million (previous year: , million).
Implementation of our  strategic project is on-going.
Volume rise in air and ocean freight confirmed
Revenues and volumes in air and ocean freight increased year-on-year in the reporting
year.
Our air freight volumes grew in nancial year  by .  compared with the
previous year. Margin pressure continued to rise over the course of the year. In light
of the falling oil price, major customers engaged in aggressive competitive bidding in
the second half of the year. Furthermore, airlines reduced their capacities, in particular
along the very busy routes from Asia. Our revenue in the reporting period grew by . ;
however, gross prot declined by . . In the fourth quarter, volumes were .  and
revenue .  above the prior-year quarter.
Ocean freight volumes for  as a whole were up by .  year-on-year, driven
mainly by newly acquired customers and increased volumes from existing customers.
Asia remains the largest growth engine. Despite the fact that new, larger vessels are being
put into operation, ocean carriers continued to reduce eective capacity and therefore
maintain the balance between supply and demand. At the same time, rates were in-
creased, which added pressure to the margins. Our ocean freight revenue increased by
.  in the reporting year. Although we implemented strict operational cost control
measures, gross prot declined by . . In the fourth quarter, volumes were .  and
revenue .  above the prior-year quarter.
Our industrial project business (in table ., reported as part of Other in the Global
Forwarding business unit) saw weaker performance compared with the prior year. In the
reporting year, the share of revenue related to industrial project business and reported
under Other was .  and therefore down year-on-year (previous year: . ). Gross
prot therefore declined by .  compared with the prior-year period.
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