•  High freight rates drove the development – shipment volume declined, however.
•  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.

Demand in land transport dropped, driven by declines, particularly in system and parcel transport. Uncertainties regarding economic development, inflation and the effects of the war in Ukraine were the main drivers. Conversely, the volume of direct shipments increased.

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

• Revenues: Increase due in particular to generally higher sales prices. In contrast, demand development had a dampening effect. Adjusted for exchange rate effects, the increase was even more pronounced.
• Other operating income: Increase mainly due to higher income from the release of provisions.

Developments on the expenses side were characterized by price effects in the areas of direct, system and special transport. Compared with income, however, the increase was disproportionately low:

• Personnel expenses: Increase due to a higher number of employees. Adjusted for exchange rate effects, the increase was even greater.
• Other operating expenses: Increase due to reclassification of IT expenses within the business unit.
• Cost of materials: Slight increase, negative effects – mainly from price increases – were partly offset by positive exchange rate effects and declining demand.

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

• Considerable decline in demand due to weak market momentum.
•  Rising capacities and economy-related uncertainties characterize the development.
•  Significant decrease in freight rates on the main routes of ocean freight again to pre-Covid-19 level.
•  Air freight: implementation of projects to improve efficiency and stabilize profitability.
•  Ocean freight: business recovery in trade fairs and major projects, which were under pressure due to Covid-19.

Performance development saw a significant decline:

• Air freight: Negative effects, mainly due to higher inventories, weak market impulses owing to inflation, and the shift in transport demand back to ocean freight following the restrictions of recent years, could only be partially offset.
• Ocean freight: In line with market developments, volumes were also significantly below the level of the first half of 2022.

Economic development was significantly weaker: the adjusted operating profit figures weakened again after the extraordinarily high increases in previous years, but remained very much above the pre-Covid-19 level. Income decreased:

• Revenue: Significant decline, mainly due to the freight rate and performance development. Air freight trends from the end of the previous year continued. Rising capacities and declining demand led to a drop in the freight rate level, putting pressure on prices for new contracts. High capacities and declining demand also led to significantly lower freight rates in ocean freight. At the end of the first half of 2023, freight rates returned to pre-Covid-19 levels; in some cases, they were lower. Adjusted for exchange rate effects, the decrease in revenues was somewhat less pronounced.
• Other operating income: Increase at a low level, mainly as a result of increased income from the release of provisions in air freight.

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

• Cost of materials: Significant decline, mainly due to the development of freight rates and lower demand. Adjusted for exchange rate effects, the decrease was somewhat less pronounced.

In contrast, the increase in other expenses had a dampening effect:

• Other operating expenses: Increase due to reclassification of IT expenses within the business unit.
• Personnel expenses: The increase resulted from the employment of more qualified employees (higher complexity of the handling procedures due to rapidly changing conditions related to rate and bottleneck management). Negative exchange rate effects and a lower number of employees had a contrary impact on expenses.

The number of employees decreased as a result of business development.

•  Revenue development declined in a difficult market environment.
•  Operating profit figures improved.
•  Measures to improve productivity and profitability with positive contribution to result.

The disposal of MTS resulted in restrictions on comparability to the first half of 2022.

The development in contract logistics followed the overall market thanks to its diversified portfolio that covers different geographic regions and market sectors.

The economic development was very encouraging in a challenging market environment: adjusted profit figures rose, driven by a decrease in expenses. Income also fell, but to a lesser extent:

• Revenues: Significant decrease due to the sales of MTS and EVAG and the internal transfer of individual businesses in Germany. Adjusted for these effects, there was a slight increase, mainly as a result of business development in Europe. Adjusted for exchange rate effects, the decrease was less pronounced.
• Other operating income: Increase at a low level, mainly as a result of a one-off effect in connection with a lease.

Expenses development saw a decline:

• Cost of materials: Significant decrease due to the sale of MTS, the internal transfer of individual businesses and lower operating costs for the maintenance of warehouses. Adjusted for exchange rate effects, the decrease was somewhat less pronounced.
• Other operating expenses: Here, too, the decline was mainly driven by the sale of MTS and the internal transfer of individual businesses. Positive exchange rate effects also had a reducing effect on expenses.
• Personnel expenses: Decrease due to a significantly lower average number of employees.

The development of depreciation had a contrary effect:

• Depreciation: Increase as a result of the conclusion of lease contracts for storage capacity.

The number of employees declined significantly, partly as a result of the MTS sale.