BONN-based dhl Global Forwarding's second quarter net profit increased 140 per cent year on year to EUR1.4 billion (US$1.6 billion), drawn on revenues of EUR19.5 billion, up 222 per cent.
The Deutsche Post (DP) DHL-owned forwarder reported a nine per cent year-on-year increase in second quarter air freight revenues to EUR2 billion on the back of a 35.7 per cent improvement in volumes to 517,000 tonnes.
The company said that this year it has benefited from the 'resumption of trade in some regions'. The highest growth rates were in Asia and the US.
'At the same time, available market capacity remained at a low level on account of the limitations on passenger flights, which led to significantly increased freight rates,' DP DHL said.
In the first half, DHL's air volumes were up 26.5 per cent at just over one million tonnes.
For comparison, DB Schenker saw its first-half air freight volumes increase 43.8 per cent year on year, Kuehne+Nagel said that its air freight volumes improved by 44 per cent in the first half while last week DSV noted an improvement of 5.9 per cent.
But DHL's air freight gross profits for the period were down by 4.1 per cent to EUR325 million as a result of the PPE crisis and collapse of airfreight capacity in the same period last year.
The company pointed out that compared with pre-crisis 2019 levels, gross profit in the second quarter was up by 37 per cent.
Said chief financial officer Melanie Kreisd: 'After more than a year into the Covid pandemic, e-commerce has seen structural growth and shipment volumes reached a substantially higher level. At the same time, our business is benefitting from a resurgence in business customer activities.
'Based on significantly elevated demand for logistics solutions, all divisions are able to utilise their networks more efficiently than ever before. Thus, we have an excellent position to grow further profitably in the future with targeted investments in our core business and digitalisation,' she said.
SeaNews Turkey
The Deutsche Post (DP) DHL-owned forwarder reported a nine per cent year-on-year increase in second quarter air freight revenues to EUR2 billion on the back of a 35.7 per cent improvement in volumes to 517,000 tonnes.
The company said that this year it has benefited from the 'resumption of trade in some regions'. The highest growth rates were in Asia and the US.
'At the same time, available market capacity remained at a low level on account of the limitations on passenger flights, which led to significantly increased freight rates,' DP DHL said.
In the first half, DHL's air volumes were up 26.5 per cent at just over one million tonnes.
For comparison, DB Schenker saw its first-half air freight volumes increase 43.8 per cent year on year, Kuehne+Nagel said that its air freight volumes improved by 44 per cent in the first half while last week DSV noted an improvement of 5.9 per cent.
But DHL's air freight gross profits for the period were down by 4.1 per cent to EUR325 million as a result of the PPE crisis and collapse of airfreight capacity in the same period last year.
The company pointed out that compared with pre-crisis 2019 levels, gross profit in the second quarter was up by 37 per cent.
Said chief financial officer Melanie Kreisd: 'After more than a year into the Covid pandemic, e-commerce has seen structural growth and shipment volumes reached a substantially higher level. At the same time, our business is benefitting from a resurgence in business customer activities.
'Based on significantly elevated demand for logistics solutions, all divisions are able to utilise their networks more efficiently than ever before. Thus, we have an excellent position to grow further profitably in the future with targeted investments in our core business and digitalisation,' she said.
SeaNews Turkey