• Further increase in demand.
• Quality improvements with positive effects.
• Further increase in demand for the digital platforms Connect4land and Drive4Schenker.

Demand for land transport increased, driven by growth in di­­rect, system and special transport services. In contrast, declines in package transport had a dampening effect.

Economic development was weak. Operating profit figures dropped as a result of a noticeable increase in expenses. This outweighed the positive profit development.

• Revenues increased significantly, due in part to volume-related factors. Adjusted for exchange rates, the increase was somewhat less significant.
• Other operating income fell slightly as a result of lower state aid for Covid-19, primarily in Germany, Austria, France and Sweden.

Trends in expenses were driven by rising volumes in the cost-intensive areas of direct, system and special transport services. Compared to income, the increase was significantly stronger:

• The costs of materials increased noticeably in line with de­mand. Rising prices and exchange rate effects exacerbated this trend.
• Other operating expenses increased due to the reclassification of IT expenses within the business unit with no effect on income.
• Personnel expenses increased due to growth in volumes and exchange rates.

The number of employees increased significantly, partly due to growth in volumes.

• Strong recovery in demand for air freight.
• Capacity bottlenecks and pandemic-related uncertainties suppress growth in ocean freight.
• Significant increase in freight rates.
• Air freight: various measures implemented to ensure transport operations, standardization, and productivity improvements.
• Ocean freight: implementation of projects to improve efficiency and optimize organization worldwide.

The performance development differed for air and ocean freight.

• In air freight, the trend was very positive, with volumes rising above the pre-pandemic level, driven by higher demand for the transport of electronics, automotive and medical goods. A temporary, large-scale shift in transport demand from ocean freight had a supporting effect.
• For ocean freight, volumes were slightly below the low level of the previous year. Equipment and capacity shortages, alongside the tense market situation due to Covid-19, were only partially offset by volume growth in the Asia/Pacific region and temporary recovery trends.

The economic development was very encouraging: the adjusted profit figures improved due to the significant increase in income:

• Revenue increased significantly, mainly due to the growth in freight rates. Volume growth also had a very positive effect in air freight. Adjusted for exchange rates, the increase was even stronger.
• Other operating income was virtually unchanged. Volume and price trends in air and ocean freight offset each other almost entirely.

In terms of expenses, volume growth in air freight and the increase in freight rates had a notable impact:

• The costs of materials increased significantly, mainly as a result of higher volumes in air freight and higher freight rates. Exchange rate effects, in contrast, had an expense-reducing effect.
• Other operating expenses increased due to the reclassification of IT expenses within the business unit with no effect on income.
• Personnel expenses increased as a result of a higher number of employees, partly due to growth in volumes. Exchange rate effects, in contrast, had an expense-reducing effect.

The number of employees increased as a result of the in­crease in volumes. More complex work processes due to Covid-19 resulted in additional new hires in ocean freight.

• Significant recovery of business activities following stricter restrictions as a result of the Covid-19 pandemic.
• The growth drivers are Asia/Pacific and America – a lack of semiconductors is slowing development in Europe.
• Productivity improvement measures are being implemented.

The development in contract logistics followed overall market trends thanks to the business line’s geographically and sectorally diversified portfolio. There was also a slight increase in overall market share (primarily in the Asia/Pacific region and the Americas). Developments in Europe were slowed by the semiconductor shortage and the greater dependence on the automotive industry.

The economic development was somewhat better, despite the challenging market environment. Adjusted profit figures rose slightly, driven by income gains. In terms of revenues, the pre-pandemic level was exceeded by a significant margin:

• Revenues increased significantly again, driven by recovery effects following the tighter restrictions resulting from the Covid-19 pandemic. Trends in the automotive sector stabilized, although the ongoing semiconductor shortage acted as a brake on activity. The electronics and consumer sectors in particular developed positively. Adjusted for exchange rates, revenue increased even more sharply.
• In contrast, other operating income fell to a low level as a result of lower pandemic-related government benefits.

In terms of expenses, the recovery in demand was noticeable:

• The costs of materials increased in line with revenue development. Exchange rate effects, in contrast, had a partially expense-reducing effect.
• Other operating expenses increased due, among other things, to the reclassification of IT costs within the business unit with no effect on income, and as a result of business development. Exchange rate effects, in contrast, had a partially expense-reducing effect.
• Personnel expenses also increased as a result of business development. In addition, one-off bonus payments to operational employees increased expenses. Exchange rate effects, in contrast, had an expense-reducing effect.
• Depreciation increased significantly as a result of the con­clusion of leasing agreements for storage capacity.

The number of employees fell slightly, due in part to higher productivity and a tense labor market.