Schenker Logistics profit up 18.2pc to US$207.2 million, sales up 3pc

DB Schenker posted an 18.2 per cent year-on-year pretax profit increase in the first half to EUR170 million (US$207.2 million), drawn on revenues of EUR7.7 billion, up 3.3 per cent.

"With the exception of the Americas and central regions, revenue growth has been reported in all regions. In the Americas, the decline was attributable to the restructuring of the US domestic business, with an impact of EUR200 million.

In the central region, revenues were roughly in line with the level reported for the first half of 2011 as a result of weak economic growth," a company statement said.

"The development in the business unit DB Schenker Logistics was overall positive in the first half of 2012 despite the difficult conditions," a company statement said. However, "mixed performances were reported for the individual lines of business".

First half tonnage transported by the company's European road freight business rose 0.5 per cent year on year. A decline in shipments in international land transport offset growth in parcel business and in national land transport. Revenue in contract logistics grew by 19.4 per cent.

The volume of ocean freight transported by its sea freight business and measured in TEU rose by 10.6 per cent in the first half of the year compared to the first half of 2011, on the back of a positive performance on the routes from Europe to Asia and intra-Asia services.

On the other hand, volume in air freight forwarding declined 7.9 per cent year on year. "This was due particularly to the development on the transatlantic and transpacific routes from and to North America, whereas services from Asia to Europe increased," the statement said.

DB Schenker Rail, which is independent of DB Schenker Logistics, saw revenues from the rail cargo business decline 0.5 per cent after exceptionals and foreign exchange. Pre-tax profit declined 58.6 per cent.