GLOBAL FORWARDING, FREIGHT

Freight forwarding business overall satisfactory 

The GLOBAL FORWARDING, FREIGHT Division generated revenue of €7,874 million in the reporting period, a year-on-year decline of 25.5% (previous year: €10,568 million). The total was impaired by negative currency effects of €5 million. Revenue fell organically by 25.4% in the first three quarters.

In the Global Forwarding Business Unit, revenue declined by 27.5% year-on-year, from €7,841 million to €5,683 million. The decrease was 28.1% after adjustment for exchange rate gains of €42 million. As a result of the drop in air and ocean freight rates in the wake of the global recession, we were able to purchase lower-cost transport and limit the decrease in our gross profit, which fell 9.8% year-on-year from €1,637 million to €1,476 million. 

Volume declines in air and ocean freight level off 

Despite the fact that cumulative transport volumes in the first nine months of 2009 fell significantly short of the previous year, the third quarter saw volumes stabilise.

Air freight volumes (exports) in the reporting period were 21.0% below prior-year volumes. However, third-quarter volumes were up 8% on the second quarter and nearly 20% on the first quarter of 2009. The technology, manufacturing and mechanical engineering sectors continued to perform well below the prior year, whilst the life sciences and consumer goods sectors experienced improvements thanks to proactive selling. Our revenue in the reporting period fell year-on-year by 32.1% due to lower fuel surcharges and freight rates on numerous trade lanes. Our business in the Middle East and Africa remained robust. The slight recovery in the third quarter can be primarily traced back to our Asian business. 

Global Forwarding: revenue
€m
	9M 2008	9M 2009	+/– %	Q3 2008	Q3 2009	+/– %
Air freight	4,047	2,748	-32.1	1,487	973	-34.6
Ocean freight	2,494	1,829	-26.7	900	594	-34.0
Other	1,300	1,106	-14.9	513	344	-32.9
Total	7,841	5,683	-27.5	2,900	1,911	-34.1

Global Forwarding: volumes
thousands
		9M 2008	9M 2009	+/– %	Q3 2008	Q3 2009	+/– %
Air freight	tonnes	3,284	2,599	-20.9	1,091	976	-10.5
of which exports	tonnes	1,868	1,476	-21.0	623	533	-14.4
Ocean freight	TEU1)	2,128	1,928	-9.4	795	708	-10.9

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