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CEO Frank Appel at the Annual General Meeting: "We are strongly positioned for a successful future" [Integrator]

After a record year in 2017: financial goals of Strategy 2020 confirmed
Dividend increase to EUR 1.15 per share proposed
E-commerce continuing to generate sustained growth
Change in the Supervisory Board: Chairman Wulf von Schimmelmann steps down

After a very successful year in 2017, Deutsche Post DHL Group, the world's leading mail and logistics company, considers itself to be well on track to achieve its strategic and financial goals for 2020. "We are strongly positioned for a successful future," said CEO Frank Appel at the Group's Annual General Meeting in Bonn. "In 2017, with the current structure in place, we achieved the best result in the history of our company." Appel confirmed the goal of increasing operating profit (EBIT) in the current financial year to EUR 4.15 billion, including the effect of EUR 150 million resulting from the transition to IFRS 16. EBIT would top EUR 5 billion by 2020, he said, adding that this was challenging, but realistic.

All the signs pointed toward solid growth, Appel said. E-commerce was growing further and would remain a key engine for the business of Deutsche Post DHL Group. In 2020, an estimated 2.1 billion people around the world would shop online. Global online revenue would increase to USD 4.1 trillion - assuming e-commerce is simple for customers. "Logistics is the backbone of e-commerce. And we make it really simple. From placing a pick-up order to tracking the current status of an item through to payment." DHL Parcel Europe's network already covered 26 countries, said Appel. Bulgaria, Ireland, Croatia and Romania were added in 2017. More than 60,000 parcel drop-off or pick-up points were available, he said.

Optimism about free trade and globalization
Appel also voiced his optimism with regard to the economic environment, saying that global trade would continue to grow despite many uncertainties. The new DHL Global Trade Barometer also underpinned this trend. "The future is global. Anything else is a misconception," said Appel. "If you build new barriers, you will not be successful in the long term. Walls are not the solution. We want to make tomorrow better than today. To achieve this, we need to grow together even more."

Speaking to shareholders, the CEO made reference to the positive effects of global trade for improving living conditions in many regions of the world. As the world's leading logistics company, Deutsche Post DHL Group was investing globally, he said. "And wherever we invest, we help to ensure that society develops and prosperity grows. Protectionism is the wrong path. No matter where it is or what form it takes."

Review of financial year 2017
Appel expressed his satisfaction with the record results of the past financial year. Thanks to strong performance in all four divisions, Deutsche Post DHL Group had lifted consolidated EBIT by 7.2 percent to EUR 3.74 billion. The Group's revenue was up 5.4 percent to EUR 60.4 billion. Appel thanked the Group's workforce, which numbers approximately 520,000 employees worldwide, for their commitment: "The key to our success is a strong team and the best workforce in the industry."

Dividend increase proposed
In light of the Group's strong business performance, the Board of Management and the Supervisory Board proposed a dividend increase of 10 cents (+9.5 percent) to EUR 1.15 per share to the Annual General Meeting. This would be the highest dividend since the company's IPO in 2000.

If approved by the shareholders, the Group would be paying out a total of EUR 1.4 billion. The distribution ratio would be 52 percent. With this the company remains within the target range of 40 percent to 60 percent defined by the Board of Management in 2010. The dividend will be paid on April 27, 2018.

Contributing to people and society
It was important for the Group to have good financial figures, but they were not the be-all and end-all, Appel told shareholders in Bonn. "We manage our business in a way that ensures we make a positive contribution to society," he said, adding that Deutsche Post DHL Group had achieved this again in the past year, as regular customer and employee surveys had shown. The Group had also made excellent progress in the area of climate protection, he said, pointing out that compared with 2007, the company had improved carbon efficiency in logistics by 32 percent. By 2050, our greenhouse gas emissions are expected to be reduced net to zero. To this end, Deutsche Post DHL Group had already got a variety of measures off the ground last year, Appel said. For example, the Group in collaboration with staff and cooperation partners had planted over a million trees. In addition, steps were taken to double production capacity for the StreetScooter, the electric delivery vehicle developed by the Group. The Group already had over 5,500 StreetScooters on the road in Germany, he commented. In the medium term, the company was planning to manufacture around 20,000 cars per year. "E-mobility has finally found its way into people's heads," Appel said. "The StreetScooter's current success is encouraging. It is now time to go up a gear."

Shaping the future of logistics
To accelerate the StreetScooter success story, the Group recently set up the new Board department Corporate Incubations headed by Jürgen Gerdes. This department would also be an incubator for other new innovative and forward-looking ideas, Appel said. New technologies made a lot of things possible. This included hitherto unknown forms of mobility, digital platforms and new processes. "We will invent the future of logistics today," said Appel. Until a successor for Gerdes as member of the Board of Management Post - eCommerce - Parcel had been found, he himself would be taking responsibility for this Board department, the CEO announced.

Changes in the composition of the Supervisory Board
The election of two new representatives to the company's Supervisory Board was also on the agenda of the shareholders' meeting. Dr Ulrich Schröder had stepped down from the Supervisory Board for health reasons. In addition, the term of office of the Supervisory Board chairman Prof. Dr Wulf von Schimmelmann will end as scheduled after today's Annual General Meeting. Speaking to shareholders, CEO Frank Appel praised the achievements of Prof. von Schimmelmann, who had been a member of the Supervisory Board since 2007 and its chairman since 2009: "Wulf von Schimmelmann always gave us major momentum with his steady hand, his vast experience and his pioneering spirit." Appel said that Deutsche Post DHL Group was now excellently positioned and delivered outstanding results. This was also thanks to Schimmelmann, he added.

Dr Günther Bräunig, CEO of KfW Bankengruppe, and Dr Mario Daberkow, a member of the Management Board of Volkswagen Financial Services AG, will be elected as new members of the Supervisory Board. At the first meeting in its new composition to take place after the Annual General Meeting, the Supervisory Board is expected to appoint Dr Nikolaus von Bomhard, the former chairman of the Board of Management of Münchener Rück AG, as the new Supervisory Board chairman from among its members.
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Posted at 22:30   パーマリンク

Kuehne + Nagel Group | First quarter 2018 [Forwarder]

A good start into 2018
Significant increase in EBIT and net profits
Seafreight increases EBIT with stable margins
Airfreight continues strong growth
Substantial increase in Overland results
Business expansion in Contract Logistics
Schindellegi / CH, April 24, 2018 – The Kuehne + Nagel Group recorded a successful start into 2018 with considerable increases in EBIT and earnings for the period. The company thus confirmed the growth momentum of the last two quarters 2017 in the first three months of the current business year.

Kuehne + Nagel Group
1st quarter 2018

1st quarter 2017


CHF million
Net turnover 4,862 4,299 +13.1%
Gross profit 1,843 1,648 +11.8%
Operational result (EBITDA) 289 257 +12.5%
EBIT 236 209 +12.9%
Earnings for the period 184 165 +11.5%

In a challenging market environment, Kuehne + Nagel increased volumes by 5.0 per cent, recording market share gains in specific customer groups. In the first quarter, the company handled 1.079 million (TEU), some 50,000 more than in the previous year’s period. Volume growth was only held back by the decline in exports of recycling material to China following changes to import terms. With rapid growth in intra-Asian transport operations and exports from Asia, margins overall increased slightly. EBIT grew by 4.3 per cent to CHF 97 million, with EBIT- to-gross-profit ratio (conversion rate) at an industry-leading level of 27.2 per cent.

Airfreight continued to build on its previous year’s outstanding performance, with solution-oriented, industry-specific offerings. Tonnage increased once again by more than 20 per cent to 422,000 tonnes, including the successful integration of two acquisitions. Particularly strong growth was recorded for exports from North America. EBIT rose by 12.5 per cent from the already very high level of the previous year, reaching CHF 81 million. The conversion rate remained high at 28.6 per cent due to effective cost controls and the further digitalisation of internal processes.

Kuehne + Nagel's overland business continues to deliver results on growth track. Net turnover increased by 16.4 per cent in the first quarter, while gross profit rose by 16.8 per cent. Key factors for this were the intermodal transport in North America which increased compared to the second half of 2017 and the continuing strong business performance in Europe. Once again, the drivers behind this growth were industry-specific solutions, particularly for the pharma industry. EBIT improved by CHF 17 million compared to the previous year’s period.

Contract Logistics
Due to a dynamic business performance, contract logistics grew twice as fast as the market. Double-digit increases in China and South-East Asia were crucial as well as significant business wins, in particular in the area of e-commerce fulfilment. Gross profit increased by 11.3 per cent compared to previous year’s period. The realignment of the production model at a business in the UK coupled with the costs of introducing innovative technologies and new systems led to an EBIT of CHF 34 million slightly down from the previous year.

Dr. Detlef Trefzger, CEO of Kuehne + Nagel International AG: “We have made a successful start into the business year and achieved clear increases in volume across all business units. Building on this growth combined with further productivity improvements we were able to considerably increase our results in the first quarter. At the start of the new year we implemented two new digital platforms globally, SeaExplorer and KN ESP, addressing specific customer requirements and creating significant efficiency gains. Another important milestone is the opening of two innovation centres where we we develop innovative solutions in contract logistics together with customers. We are determined to continue on this path.”

Posted at 22:24   パーマリンク


Panalpina improves profitability [Forwarder]

In the first three months of 2018, international freight forwarding and logistics company Panalpina improved profitability compared to the same period of last year. Panalpina reported an EBIT of CHF 24.4 million (YTD 2017: CHF 16.4 million) and a consolidated profit of CHF 16.6 million (YTD 2017: CHF 12.4 million).

“We’ve had an encouraging start into 2018. Profitability per transported unit increased in both Air and Ocean Freight,” says Panalpina CEO Stefan Karlen. “In Ocean Freight we still recorded a loss, but it has come down from the last quarter of 2017. Logistics contributed to the good overall performance with a solid EBIT result.”

Panalpina Group: Results for the first quarter of 2018

(CHF million) YTD 2018 YTD 2017
Net forwarding revenue 1,414.3 1,277.2
Gross profit 370.7 332.7
EBITDA 64.4 27.1
EBIT 24.4 16.4
Consolidated profit 16.6 12.4
Higher EBIT and consolidated profit

In the first quarter of 2018, Panalpina’s gross profit increased 11% to CHF 370.7 million (YTD 2017: CHF 332.7 million), while total operating expenses stayed flat at CHF 306.3 million (YTD 2017: CHF 305.7 million). EBIT and consolidated profit increased year-on-year by 49% and 34% respectively. EBIT reached CHF 24.4 million compared to CHF 16.4 million a year before and the EBIT-to-gross-profit margin stood at 6.6%, up from 4.9% in 2017. The consolidated profit increased from CHF 12.4 million to CHF 16.6 million.

Air Freight

Panalpina’s Air Freight volumes increased 3% in the first quarter of 2018. Compared to the same period of last year, gross profit per ton increased 19% to CHF 739 (YTD 2017: 620), while overall gross profit increased to CHF 177.8 million (YTD 2017: CHF 144.7 million). EBIT in Air Freight increased from CHF 17.1 million to CHF 26.9 million. The EBIT-to-gross-profit margin came in at 15.1% compared to 11.8% a year before.

Ocean Freight

Panalpina’s Ocean Freight volumes decreased 4% year-on-year, mainly as the result of a discontinued high-volume contract, while gross profit per TEU increased 7% to CHF 303 (YTD 2017: CHF 282), bringing gross profit to CHF 108.9 million (YTD 2017: CHF 105.5 million). For the first quarter of 2018, Ocean Freight recorded an EBIT loss of CHF 5.8 million, compared to a loss of CHF 3.2 million a year before.


In Logistics, gross profit increased 2% to CHF 84.0 million year-on-year (YTD 2017: CHF 82.5 million). EBIT reached CHF 3.4 million for the first three months of 2018, compared to CHF 2.4 million for the same period of last year.


“Global air freight demand continues to be healthy and the carriers have begun to increase rates substantially. We will have to be very disciplined in passing these rate increases on as we head for a summer season that could be busier than usual again,” says Karlen. “In Ocean Freight, our immediate focus is clearly on improving profitability. In Logistics, we have made important investments that put us in a good position for top-line growth during the rest of the year.”

Posted at 12:08   パーマリンク


DHL Global Trade Barometer increases [Integrator]

Solid positive growth for global trade expected within three months
Prospects for Korean and US trade brightening, Germany moderating
Air trade outlook drops slightly, ocean trade gaining momentum

The positive outlook for world trade has continued to improve. The DHL Global Trade Barometer increased to 66 points in March from 64 points in January when the newly created index was initially published. With an index value clearly above 50, the DHL Global Trade Barometer continues to signal solid positive growth for global trade within the next three months. Furthermore, the increase indicates that growth is gaining momentum.

The overall good prospects are also reflected in the fact that the Trade Barometer points to an increase in trade activity for each of the seven constituent countries. Compared to the findings in January, the improved global index is mainly driven by an increasingly positive outlook for Korean and US trade. In contrast, the prospects for German trade eased after the strong peak seen in 2017. India continues to show the highest index value of all seven countries for the overall trade predictions, while the UK, after a modest decline since January, scores the same level as China at the lower end of the country ranking.

Index developments are slightly contrasting
Developments in air and ocean trade are slightly contrasting. The global air trade outlook drops slightly by -1 point compared to January, but remains very positive at 70. The outlook for global air trade is pushed downward, as particularly German and South Korean air trade growth is expected to slow down. On the upside, air trade growth in China and the US is expected to accelerate.

Meanwhile, the outlook for global ocean trade improved to 63 points in March from 60 points in January. This growth is also driven by the US and China, together with a strong increase in South Korea, offsetting a slightly reduced growth outlook for UK and German ocean trade.

Big amounts of data are evaluated with the help of artificial intelligence
Launched in January 2018, the DHL Global Trade Barometer is a new and unique early indicator for the current state and future development of global trade. It is based on large amounts of logistics data that are evaluated with the help of artificial intelligence. The indicator has been developed in cooperation between DHL, the world's leading logistics company, and IT service provider Accenture. It is published four times a year. The next release date is June 27, 2018.

Posted at 18:51   パーマリンク

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