DHL Global Forwarding and Freight saw operating profit increase 140 per cent to EUR372 million (US$429 million) year on year drawn on revenues of EUR5.7 billion, up 53 per cent.
Overall, Deutsche Post dhl increased revenue by 23.5 per cent year on year to EUR20 billion and third quarter operating profit 2021 increased by 28.6 per cent EUR1.8 billion.
Air freight volumes in the third quarter increased by 34.4per cent year on year to 524,000 tonnes, air revenues improved by 52per cent to EUR2.1 billion and air gross profit was up 25.9 per cent to EUR326 million.
The company said the performance was 'buoyed by the global trade recovery'.
'We registered year-on-year growth of 34.4 per cent in air freight volumes in the third quarter of 2021, due mainly to global trade in goods,' DHL said.
'The highest growth was attributable to the trade lanes between Asia and the US.'
Air freight rates across the market have continued to improve this year, which has supported revenue and profit growth.
'Gross profit and EBIT/GP conversion are currently supported by the rate environment reflecting tight and partly disrupted capacities in air and ocean freight,' DHL said.
Frank Appel, chief executive of DP DHL Group, said: 'Our business continued to develop extremely positively in the third quarter of 2021. After nine months, we have already exceeded our record full-year result from the previous year.
'Based on this substantially higher earnings level, the prospects for Deutsche Post DHL Group's future development remain positive: Global trade returns to its old strength.
'Online shopping is maintaining its new higher level. With our focus on e-commerce and digitalisation, we have positioned Deutsche Post DHL Group excellently,' he said.
SeaNews Turkey
Overall, Deutsche Post dhl increased revenue by 23.5 per cent year on year to EUR20 billion and third quarter operating profit 2021 increased by 28.6 per cent EUR1.8 billion.
Air freight volumes in the third quarter increased by 34.4per cent year on year to 524,000 tonnes, air revenues improved by 52per cent to EUR2.1 billion and air gross profit was up 25.9 per cent to EUR326 million.
The company said the performance was 'buoyed by the global trade recovery'.
'We registered year-on-year growth of 34.4 per cent in air freight volumes in the third quarter of 2021, due mainly to global trade in goods,' DHL said.
'The highest growth was attributable to the trade lanes between Asia and the US.'
Air freight rates across the market have continued to improve this year, which has supported revenue and profit growth.
'Gross profit and EBIT/GP conversion are currently supported by the rate environment reflecting tight and partly disrupted capacities in air and ocean freight,' DHL said.
Frank Appel, chief executive of DP DHL Group, said: 'Our business continued to develop extremely positively in the third quarter of 2021. After nine months, we have already exceeded our record full-year result from the previous year.
'Based on this substantially higher earnings level, the prospects for Deutsche Post DHL Group's future development remain positive: Global trade returns to its old strength.
'Online shopping is maintaining its new higher level. With our focus on e-commerce and digitalisation, we have positioned Deutsche Post DHL Group excellently,' he said.
SeaNews Turkey