DHL parent suggests volumes decline is stabilising
Deutsche Post DHL, the world’s largest logistics provider, has indicated in a preview of its first-quarter results that it is seeing signs of stabilisation in its volume declines, despite predictable declines across all products and divisions compared with the last quarter of 2008.
The Germany-based giant is in something of a transitional phase at the moment, as it completes its restructuring and withdrawal from the US domestic market. Furthermore, its net profit this quarter will be considerably higher than the same period last year, as that financial result was positively impacted by the market valuation of the group’s put options on Postbank shares, DHL said.
On an underlying basis, DHL indicated that group earnings before interest and tax (EBIT) “declined by less than 50%” and also cited the supply chain corporate division as being the only unit to record an improvement in underlying EBIT compared to the previous period.
All in all, the company statement – which is after all only a preview – does not detail exactly where it sees its stabilisation in volume declines. But the full results, to be released on 6th May, will reveal all; even faintly positive results for the world’s biggest player are also likely to be a shot in the arm for the industry as a whole.