DHL revenue up 4.6%, profits improve in 1Q2010

DHL revenue up 4.6% - financial highlights for the three months ended 31-Mar-2010:

• Total operating revenue: EUR12,451 million, +4.6% year-on-year;
  • Mail: EUR3,446 million, -1.1%;
  • Express: EUR2,260 million, +9.0%;
  • Global Forwarding: EUR3,117 million, +13.5%;
• Total operating costs: EUR11,939 million, +0.6%;
• EBIT: EUR512 million, +1,796%;
  • Mail: EUR388 million, -4.7%;
  • Express: EUR110 million, compared to a loss of EUR392 million in the previous corresponding period;
  • Global Forwarding: EUR53 million, +17.8%;
• Underlying EBIT: EUR566 million, +81.4%;
• Net profit: EUR1,770 million, +86.7%;
• Air freight: 1.0 million tonnes, +34.2%;
• 2010 outlook:
  • Underlying EBIT: EUR1.6 billion to EUR1.9 billion;
    • Mail: EUR1.0 billion to EUR1.2 billion;
    • DHL divisions: EUR1.0 billion to EUR1.1 billion. [more]

DHL: "Provided that there is a moderate recovery in trade volumes, we continue to expect consolidated EBIT before non-recurring items to reach EUR1.6 billion to EUR1.9 billion in 2010. We now assume that we will be able to close the year as a whole at the upper end of this range. Deutsche Post and DHL should contribute nearly equally to this result. Our liquidity will remain strong despite restructuring expenses. Consolidated net profit is expected to continue to improve in line with our operating business," Company statement. Source: DHL, 11-May-2010.