• Increase in international transport services more than compensated by the decline in domestic transport services.
• High freight rates drove development.
• Quality improvements with positive effects.
• Further promoting digital transformation and optimizing the product and customer mix, the network and an even more sustainable product range.

¹⁾ Figures for 2021 or as of December 31, 2021 adjusted due to the intra-Group reallocation of the FLS business area.

In land transport, demand declined, driven by declines in parcel and system transport in particular after the previous year was marked by Covid-19-related catch-up effects. The decline in shipment figures for direct freight is largely due to the effect of the FLS transaction.

On the other hand, the economic development was very encouraging: the operating profit figures developed positively as a result of a disproportionate increase in income:

• Revenues: Increase due in particular to generally higher sales prices. Demand development had a dampening effect in the opposite direction. Adjusted for exchange rate effects, the increase was even more pronounced.
• Other operating income: Decline due, among other things, to lower income from the disposal of property, plant and equipment.

Developments on the expenses side were characterized by more cost-intensive processes in the areas of direct, system and special transport due to the Covid-19 pandemic. Compared with income, however, the increase was disproportionately low:

• Cost of materials: Slight increase, in particular higher prices and negative exchange rate effects were partially offset by declines in demand.
• Personnel expenses: Increase due to a higher number of employees.
• Other operating expenses: Increase due to reclassification of IT expenses within the business unit.

The number of employees increased significantly, due in part to the acquisition of USA Truck.

• Declines in demand in air freight due to weak market momentum.
• Capacity shortages and Covid-19-related uncertainties continue to shape development, in particular in ocean freight.
• Freight rates continued to be at a high level; significant weakening again at the end of the year.

Performance development declined:

• Air freight: Negative effects, mainly due to the war in Ukraine and the lockdowns in China, were not able to be compensated for.
• Ocean freight: As a result of market developments, volumes were also slightly below the previous year’s low level. Equipment and capacity shortages, alongside the tense market situation (especially in China) due to Covid-19, were only partially offset by volume growth on transpacific routes and between Asia and Europe.

On the other hand, the economic development was very encouraging: the operating profit figures improved due to the significant increase in income:

• Revenue: Significant increase, mainly due to the development of freight rates. Performance development had a dampening effect. In air freight, the trends of the previous year were boosted by capacity-limiting measures (in particular airspace closures and sanctions). At the end of 2022, however, rising capacity and lower demand led to a decline in freight rates, making it difficult to pass on higher prices to customers in some cases. Scarce capacity and high demand also led to significantly higher freight rates in ocean freight. At the end of 2022, however, freight rates were almost back to pre-Covid-19 levels as a result of declines in demand. Adjusted for exchange rates, the increase in revenues was weaker.
• Other operating income: Increase at a low level, partly as a result of higher effects from the release of provisions.

On the expenses side, the development of freight rates was particularly noticeable:

• Cost of materials: Increase mainly as a result of freight rate developments and due to exchange rates.
• Other operating expenses: Increase due to reclassification of IT expenses within the business unit.
• Personnel expenses: Personnel expenses increased as a result of a higher number of employees, partly due to performance-related factors, and also as a result of exchange rate effects.

The number of employees rose. More complex work processes brought about by Covid-19 resulted in additional new hires.

• New business performed better than expected, particularly in Asia/Pacific and America.
• Measures to improve productivity and profitability are currently being implemented.

The development in contract logistics followed the overall market thanks to its diversified portfolio that covers different geographic regions and market sectors. Development in Europe was positive despite restructuring measures and influences from the war in Ukraine.

The economic development was very encouraging in a challenging market environment: the operating profit figures rose, driven by above-average income gains in particular:

• Revenue: Sharp increase, driven by a continuing recovery after Covid-19 restrictions. Revenue development is due in particular to new business and additional volume in the Asia/Pacific and Europe regions. The electronics and consumer sectors in particular developed positively. Adjusted for exchange rate effects, the increase was less pronounced.
• Other operating income: Increase due in part to reversals from provisions at a low level.

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

• Personnel expenses: Increase as a result of business development. Exchange rate effects also had the effect of increasing expenses.
• Other operating expenses: This increase is due, among other things, to higher costs for temporary workers as a result of the increased business development, as well as higher IT expenses and energy costs. Exchange rate effects also had the effect of increasing expenses.
• Depreciation: Depreciation increased significantly as a result of the conclusion of lease contracts for storage capacity.

The development of the cost of materials partially offset this impact:

• Cost of materials: Decrease due to lower operating costs for the maintenance of warehouses. However, the performance-related increase in expenses for purchased freight forwarding services had a partially compensating effect. Adjusted for exchange rates, the decline was significantly higher.

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