DHL reports surge in profits in 2010, optimistic of recovery

DHL revenue up 11% - financial highlights for the 12 months ended 31-Dec-2010:

• Revenue: EUR51,481 million, +11.4% year-on-year;
  • Mail: EUR13,821 million, -0.7%;
  • Express: EUR11,111 million, +12.0%;
  • Global freight forwarding: EUR14,341 million, +27.6%;
  • Supply chain: EUR13,301 million, +9.2%;
• EBIT: EUR1835 million, +694%;
  • Mail: EUR1118 million, -19.0%;
  • Express: 497 million, compared with a loss of EUR790 million in p-c-p;
  • Global freight forwarding: EUR383 million, +120%;
  • Supply chain: EUR233 million, compared with a loss of EUR216 million in p-c-p;
• Underlying EBIT: EUR2205 million, +49.7%;
• Net profit: EUR2541 million, +295%;
• Total assets: EUR37,763 million, +8.7%;
• Cash and cash equivalents: Eur3415 million, +11.5%;
• Total liabilities: EUR27,067 million, +2.3%;
• 2011 forecast:
  • EBIT: EUR2.2 billion to EUR2.4 billion;
  • Mail: EUR1.0 billion to EUR1.1 billion. [more]

DHL: "For the current year, the group expects the global economy to continue to recover, a development that will continue to fuel revenue and earnings growth at the company's DHL divisions. The group also affirmed that the positive earnings trends will continue in future years - assuming a further recovery of the global economy," Company statement. Source: DHL, 10-Mar-2011.